Payment IVR

As well as any regulatory obligations that you are required to comply with, there are clear benefits of automating your payment processing:

What are the benefits of a payment IVR?

  • Payments can be made at any time of the day, not just during office hours
  • Card payment transactions are secure
  • Some customers prefer to pay by phone/without human interaction
  • Calls can always be transferred to a live agent on request
  • Reduced call handling costs: why pay someone to do the job that a computer can do?
  • Reduced call traffic and call wait times
  • Optional payment confirmation SMS to customer
  • Fixed cost per transaction
  • Real-time payment processing and reporting, on-demand reporting
  • Daily reports for all calls, payments made, failed payments and exit points.

What is the Difference payment IVR?

In simple terms, a payment IVR allows the caller to make a payment by phone at any time of the day and without the need for human interaction.

The Difference payment IVR allows you to process payments in a number of ways:

  1. Your agents can transfer calls to the IVR platform at the point in the conversation when they need to take payment. The caller uses their telephone keypad to enter their card details. This solution is highly effective at removing the agent threat from the transaction, but for good customer service, many organisations prefer to keep the caller on the line while the customer is taken through the payment process.
  2. Your agents can guide the caller through the payment process.  The caller is asked to enter their card details manually through their telephone keypad. The agent doesn’t see or hear cardholder data and the customer stays on the phone with the caller while they are processing their payment. Minimal agent intervention is needed and the system hides card entries on the agent screen and blocks the DTMF tones from being recorded
  3. The IVR processes payments and handles balance enquiries without the need for live agents, significantly reducing operational costs, freeing your resource from high volume, routine transactions whilst offering your customers a service that is conveniently available to them 24 hours a day with no queuing or wait time.

You can mix and match the above options as required.  For example, one Difference client always has option 3 available via its main switchboard, uses option 2 in its debt collection team during contact centre opening hours and switches over to option 3 for this team during closure.

Your solution can be seamlessly integrated with your existing systems to allow real-time checks of information such as references and outstanding balances. Real-time data-feeds back into your systems are also available as soon as a payment is made.

How does a payment IVR work? The payment IVR guides the caller through the payment process. The caller keys in all the data requested. Confirmation is given back to the user to ensure all information and data keyed is correct. If all verification checks are successful, the transaction is completed. The caller can opt to receive a confirmation SMS and your business receives a transaction report. At any time during the payment process the caller can opt to be transferred to an agent. Call transfer logic is used for error and exception handling.

You can offer payment processing as a self-contained interaction or callers can be directed to a payment IVR after having spoken to an agent, with the caller coming back to for call closure as appropriate. Alternatively, with the Difference dialler platform’s conferencing technology, you can offer the customer for the agent to be present on a call during an automated IVR payment – the customer goes through the call flow and at the point of payment the card details are input as DTMF tones via the customer’s keypad. Since there is no manual intervention while entering card details, the service is secure and PCI compliant.

Why self-service channels?

A 24 hour self-service payment service is a very effective way to offer a broader,  better service to your customers whilst minimising staff costs.  It has also been shown to improve collection returns.

Call centre agents can account for 70% of the expenditure in call centres.  Using automation frees up the most expensive cost of collections – your staff –  to deal with the more complex cases.  This two-pronged approach can drive down the cost of collections and increase the returns.

Self service enables you to extend opening hours without the need to extend your staffing budget by employing more staff or paying for more hours.

Some studies show that over half of customers prefer automated self-service and see it as less intrusive than dealing with humans.

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