IVR as known as Interactive Voice Response, it's a system that enables communications between the user and the company using the pre-prepared voice records without needed a live-communicated agent. We are already using the IVR system in almost all the phone calls to communicate with a company's customer service, to use the IVR the user who is calling by telephone passes by communicating with the content that is directed to them through the keys. For example, pressing 2 keys to connect to the customer representative is an argument of the IVR system. When the user presses the 2 key on the phone, it is transferred to the customer representative.

Nowadays thousands of companies use IVR system. It is preferable to be able to direct the user to the correct target, but also to enable the user to enter the desired information via the telephone. Of course, when a company is called along with all this, the phone does not ring. So the workforce is used efficiently. The user and the firm do not have time-consuming losses. With the development of technology, the most common integration of the IVR system is by credit card payments through an IVR solution.

IVRs may also be effective at speech recognition programs that enable people to communicate verbally using the computer in ways that solicit response. It can integrate different collection-specific tools, including automated revenue processing, payment exception management and mobile-friendly payment options. It can also be utilized to handle both inbound payments and outbound notifications.

Basically, an IVR may be the computer you talk with whenever you call your utility company to pay your electric bill.

How to Accept Credit Card with IVR?

The entire process of setting up a pathway on an IVR systems to follow in order to collect payments is now increasingly sophisticated. As various payment collection types are developed (check, multiple credit card types, ACH, etc.) these pathways must accommodate consumer demand. In order to take better care of your clients, an IVR pathway has to be thoroughly researched, taking into account the details of the client base as well as their needs. Otherwise, what is supposed to be described as a customer care tool become an inhibitor for their satisfaction.

For instance, not every customer knows where a security code/3 digit can be found on the credit card. If you are accepting credit card payments, you will most likely have to explain the place where the code is. However, it's in the same place for every single credit card brands except American Express. When crafting the pathway, it is very important to account for the difference in how a computer will describe the position of the security code/3 digit depending on what card your customer is using.

IVRs are powerful tools which will make a significant difference in how businesses operate and the way how they interact with their customer base. When used correctly, it may revolutionize the way how a business handles customer service calls, collects payments, and raises the satisfaction of their employees.