Why Choose LumiPay for Telephone Payments?
Choosing the perfect phone payment solution is about finding the right balance for your company. Here are just a few features that you can benefit from with LumiPay:
Accept Payments round the clock with IVR Payments
There is a growing demand amongst customers for multiple secure payment and engagement options. This is expected of both large and smaller businesses.
Give your customers the purchasing power they want. Choose to integrate with your existing system or stand alone.
- Fully automated
Callers guided through payment process
Highly resilient, high capacity
Integrates with existing payment provider, IVR & CRM system
Professionally recorded voiceovers
IVR Payments is an automated system that enables customers to make payments. These include payments for bills, fees, and contributions over the telephone.
IVR means Interactive Voice Response which is a pre-recorded payment system to take payments over the phone automatically. The customer is being guided by the automated system through the payment process, allowing for a safe and easy way to take the customer’s payment details.
An IVR payment is processed similarly to any other Mail Order/Telephone Order (MOTO) payment.
Each business has dedicated a phone number for customers to ring to complete any transaction.
The client will
- Call the payment phone number
- Enter the reference number provided on the bill
- Then the amount owed will be confirmed
- The client enters their card details, including card number, expiry date and CVV
Card details are never stored by the telecom company or handled by any individual. This makes the transaction safer and more secure. IVR payment solutions are straightforward and a cheap option for taking payments compared to call centres.
IVR payment systems are most often provided by telecommunications companies. However, to process card payments, your business needs to have a merchant account. Merchant accounts can be attained by a merchant account provider which is a specialised bank that will approve merchant transactions. The bank will handle the transfer from the customer’s bank account to your business bank account.
To accept IVR payments, your payment gateway needs to enable this option. Secure IVR payment system work with the payment gateway enabling a business to remain PCI-compliant.
PCI protects the customer by ensuring that all companies that process, store, or transmit credit card information secure and protect their data. When it comes to phone payment solutions, obtaining PCI compliance and remaining compliant can be difficult as there are more risks involved compared to accepting transactions face-to-face.
IVR payments help to make sure that payment data never reaches your systems which increases the protection of your customers’ information.
Choosing an IVR company with high standards of compliance is vitally important when setting up a phone payment system.