Online payment has made life easier for a lot of people. It has improved customer satisfaction and boosts brand loyalty. However, for some reason, some customers are not comfortable with online payment. If online payment is convenient and efficient, the telephone payment system is even more efficient and effective.

How does phone payment system work and how can you take advantage of it for your business? Read on to learn more.

How Does Telephone Payment System Work?

Depending on the design, the telephone payment system can be designed to function without human intervention. Nowadays, some phone payment systems are built with artificial intelligence; this allows it to become more efficient and possibly learn from available data.

To make use of the system, the client will be required to provide the credit card information and the amount of transaction to the machine which is then processed without human intervention. This has the advantage of security because the machine does not store credit card information.  

This method of payment is mostly relevant for call centers, teleshopping, e-commerce sales, professional consultations, telephone sales, phone service providers, help centers, telemarketing, to mention a few.

Benefits of Telephone Payment Systems

A telephone payment system has several benefits. One of the most important benefits is security but there are a lot of other advantages.

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Security and Flexibility

Card payments are required to comply with the Payment Card Industry (PCI) Security standard. This ensures that the payment system is free from theft and data breaches. Since telephone payment systems are also required to comply with PCI standards, they are secure. Furthermore, a phone payment system does not require human intervention, this makes it much more secure.

Businesses that are really serious about customer satisfaction would consider providing various payment systems. Some businesses offer online payment solutions, bank payment and even cash on delivery. Adding a telephone payment solution to your payment solutions will further improve your customer satisfaction and loyalty.

Integration with other transaction systems

If you have more than one payment system, you definitely want to integrate and keep all your payment systems in one place. Interestingly, it is easy to integrate telephone payment systems with call center software and virtual PBX. This organizes your transactions and makes it easy for you to offer more efficient services. Not only this but also the payment outcomes or results from the automated phone payment system can be posted to your database which will mark the payment either as outstanding or completed. This integration is automated and helps you to keep tabs on the transaction processes.

Customization

Another interesting feature of the phone payment system is the ability to customize or personalize it to your requirements and needs. This includes everything from the language to the voice used by the system. By customizing the phone payment system, it will be easy for your customers to choose the option they want without getting lost in the process.

Cloud-based Features

Cloud-based systems and infrastructures are desirable nowadays because of the ease they offer. With cloud-based service, you don’t need to install any software on your device, you can access them on the fly. Telephone payment systems are cloud-based; this makes them not only efficient but also more reliable and available anywhere.

Work-load Reduction

Call centers spend a lot of time in handling transactions and payment processes. These processes can be improved and the workload could be reduced by employing an automated telephone payment system. Since the system does not involve any human interference, call center costs will also be dramatically reduced especially in the long run. This makes telephone payment systems not only efficient and reliable but also cost-effective.