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In my last blog, I looked at pause and resume recording, a method of protecting call recording archives from sensitive card data.
An alternative solution is to remove the card data from agent interactions altogether, by using an automated Interactive Voice Response (IVR) payment system. There are both advantages and disadvantages to this approach.
A payment IVR guides customers through the payment process, prompting them to enter details such as the primary account number (PAN) and card validation code using their telephone keypad.
This may occur as a self-contained interaction. Alternatively, the caller is directed to a payment IVR after speaking to an agent.
The advantages
Taking customer payments through an IVR offers contact centers some significant benefits:
The disadvantages
The pitfalls of a poorly designed IVR hardly need description - we’ve all experienced the frustration of never-ending menus and ambiguous voice prompts.
In the case of a payment processing IVR, a badly designed system can lead to confusion, incorrect data entry, and untimately abandoned transactions, with customers unlikely to return.
A well designed (and tested) system alleviates these problems, but still raises a number of concerns, when compared to a live agent interaction:
Is IVR payment processing the answer for compliance?
IVR payment processing can go some way to reducing a contact center’s compliance burden. However, many IVR payment processing solutions still leave parts of the contact center infrastructure exposed to customer card data, meaning that compliance measures must be put in place.
An IVR solution does have negative implications for the customer experience and call outcomes, but, these may be balanced by the cost savings achieved by this type of solution. Ultimately, the decision between live agent or IVR payment processing is an individual one, determined by the requirements of each organization and brand.
A service used by confident, keen customers (think concert tickets) presents an ideal case for IVR payment processing. Conversely, a service dealing with less motivated or tech-savvy individuals may require the continuous presence of a customer service adviser to meet sales targets.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Eimear Oconnor COO at Form3 Financial Cloud
07 November
Karla Booe Chief Compliance Officer at Zeta Services Inc.
Kyrylo Reitor Chief Marketing Officer at International Fintech Business
06 November
Konstantin Rabin Head of Marketing at Kontomatik
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