Interactive voice response, or IVR, is an automated business phone system feature that interacts with callers and gathers information by giving them choices from a menu. It then performs actions based on the answers the caller has given through the telephone keypad or voice response.
Using an IVR is a common occurrence, and having the ability to make a payment through this automated channel can make life significantly easier for everyone. Removing the need to talk to a human not only improves efficiencies for the organization, but can remove a lot of stress for the customer, improving the chances of them making a payment.
An Example of Payment IVR
James can call an 0800 number provided on his bill. He will hear instructions to enter his 6-digit account number to verify his identity, it will then read out the outstanding balance. He can then select a payment method, such as debit card, and enter the details securely using his telephone keypad. Not only that, but he can do this at any time, 24/7 and doesn’t have to wait to speak to an agent.
Here’s our top 5 reasons to choose a Payment IVR for your organisation:
1. The service pays for itself, a clear return on investment
Payment IVR has the ability to function automatically, 24/7, 365 days a year. Your customers might want to pay their bill at any time, day or night. Having this payment service available drastically increases your payments received during times when staff are unable to take calls. It also helps with overseas payments and holiday periods, putting a never-ending limit on when you’re able to process payments. If you have regular payment volumes every month, the additional revenue and time saved, will quickly offset the cost of the service. Higher volume equals quicker return on investment.
2. Not talking to another person can be a good thing sometimes
In addition to not having to wait in a call queue to speak to someone, some customers will be calling to pay off a debt, a fine, or reconcile their account. A bit of discretion is appreciated, as it can be quite an uncomfortable experience, and not something you’d want to discuss with a stranger over the phone. Giving people the option to make a payment over an IVR, will encourage people to make regular payments, as it will remove the need to discuss their debt any further.
Also, consider the attitude of your customers and the nature of the payment. You could be reducing the likelihood of staff facing angry or abusive callers, frustrated about having to make a payment in the first place.
3. It’s fully customisable to be in line with your current brand
You need to make sure your customers are 100% confident that they’ve reached the right place, and paying the right organization. Our Payment IVR’s are fully customizable to be in line with your current brand. Instructions and payment options are read out in a clear and professional way, with no monotone voices or unclear garbled recordings in a busy office. If you’ve sent an “Outstanding Bill” with an “Account ID” unique to each customer, you need the Payment IVR to say exactly the same thing. With professional voice artist recordings that are chosen by you, we’ll ensure that there’s no confusion or frustration when someone calls to pay.
4. Protect valuable customer data and lower your risk of a data breach, with PCI-DSS compliance Level 1
If you accept, process, store or transmit card data, then PCI DSS is applicable to your organization. Cardholder data is continuously at risk of theft from hackers that are on the lookout for a way to exploit weaknesses. The Payment IVR will remove the tones generated when a customer enters their card details on their telephone keypad, protecting them from anyone with the malicious intent to intercept the call and decipher the data.
5. Automate everything and reduce the amount of manual intervention
The Payment IVR service has a number of integration methods, including API, allowing connection with hundreds of different platforms and back office systems. This can drastically reduce the steps needed to collect payments (and chance of human error), as well as removing a lot of manual tasks in order to update customer records. This has proven to improve the overall functionality of payment collection and data management.
