Why Payment Processing IVR System becomes Popular among Business

Why Payment Processing IVR System becomes Popular among Business

In today’s mobile-driven age, establishing a telephone-payment system is the need of the hour. Companies can facilitate their customers to pay their bills using mobile phones through payment processing IVR (Interactive Voice Response) solution. Apart from payment in a secure manner, such solution is also useful for the hotel, ticket, and appointment booking. Sectors like banking and finance, insurance, hospitality, and healthcare can get the most from custom IVR solution.  It can streamline the operation and decrease overhead. Companies can reduce payment-processing expenses significantly with the help of IVR payment processing system.


When it comes to conducting personal or professional dealings in an automated manner, the IVR system lends a helping hand. Companies have started embracing this technology for introducing a virtual receptionist to welcome callers and access them to relevant employees. On applying this system for a payment purpose, it processes the client’s information and generates the codes of confirmation automatically.


Today, nearly 50 percent of bills are paid online and the number is increasing every year. However, this method is largely dependent on the Internet and limited or interrupted access can cause several troubles for the customers. There, IVR option remains handy as the customers can make payments through their phones. Following are some of the noteworthy reasons why payment processing IVR system gains ground among businesses around the world:


Reduction in security concerns: IVR system enables customers to get rid of entering financial details online or giving the same to the strangers working at the call center. In a way, the custom IVR solution can reduce the security concerns significantly and enhance the consumer confidence. The private data is encrypted and tokenized for providing additional security and that results in fewer occurrences of a security breach.


Resource optimization: It is cumbersome for the companies to assign a dedicated staff for providing payment-related information and streamlining the entire process while keeping the customer’s data handy every time. The IVR payment processing system can take care of all these aspects and enable companies to use their resources wisely in more productive work.


Customer engagement: The IVR system is based on a self-help concept. It supports multiple languages to address a wide customer base at once. The customers can choose their language and comfortably interact with the system while paying bills. In a way, the custom IVR solution can give an opportunity to give a better experience to the customers. It eventually increases the customer’s satisfaction.


Real-time access to the account: Enterprises can check the real-time transaction details and other account-related information with the help of tailored IVR system. From tracking to managing a data regarding the customer’s payment, the tailored IVR solution can address all the aspects efficiently.

Competitive edge: Increased customer satisfaction through offering the customers the advantage of an IVR system can give a competitive edge to the companies. Customers can get the account information as per their convenience on the move. As a result, they will remain more satisfied and confident with the payment model, which impacts on the business in a positive manner.


In brief, payment security, flexibility, and scalability of the system are making the IVR solution a preferred choice among the enterprises.


We, at AsteriskService, offer comprehensive IVR payment solutions that include all payment channels and offer a centralized reporting with high flexibility and customization.

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