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How Do IVR Payments Work? The Basics

IVR Payments (Interactive Voice Response) is a technology that allows customers to make payments for bills, fees, and contributions over the telephone by interacting with an automated system. This is how it works:

  1. You can direct customers to your IVR Payment line 24/7 and this can be done in multiple ways (this will link to video)
  2. Customers are greeted and guided through a series of prompts
  3. Customers enter their payment reference number, which can be an invoice #, an account #, a policy #, etc.
  4. You can enable a look-up which interacts with your business database to validate the information entered by your customer and present them with the balance on their account or the amount of an invoice
  5. When the customer is ready to pay they simply enter their credit card information which is authorized in real-time by connecting to your credit card processor
  6. Your customer receives a verbal confirmation of payment and if they choose to can also receive a text message to their mobile phone with a written confirmation
  7. The transaction shows up on your merchant account on-line portal (provided by your credit card processor) in real-time.
  8. When integrated with your billing and accounting systems payment transactions can be posted directly to your business in real-time

There are two types of IVR Payments. Self-Service and Agent Assisted. The differences between the two are explained below:

IVR Payments - Self-Service:

Your customers call into your Company’s existing phone number and select Payments from your front end phone menu. Your phone system will transfer the call to the Cloud based IVR Payments system, which is branded and configured to your specifications. Your customers can make a payment using their Credit Card, in a PCI Compliant environment with transactions being posted in real-time to your credit card processor.

IVR Payments - Agent Assisted

While your customer service agent is speaking to a customer, your Agents can transfer your customers to the IVR Payment Platform. Your agent then exit the call, ensuring the handling of your client’s Credit Card Information will be removed from the hands of your Live Agents, leaving your customers confident that their information is safe and secure.

IVR Payments delivers many benefits to your customers and business alike. These include:

  • Your customers can pay 24/7 outside your regular office hours
  • Increase Profitability by reducing labor costs
  • Improve your invoice to cash time by giving the customers the option of paying at a time of their convenience
  • Reduces stress on your staff and make operations more efficient and responsive by not having to devote time to handling payment-related calls
  • Comply with industry security requirements (PCI and HIPAA)
  • You can handle many concurrent calls without ever missing a payment