INTERACTIVE VOICE RESPONSE SYSTEMS

The Interactive Voice response system, simply called as the IVR, is a modern technology that assists in detecting voice inputs and keypad tomes input. It is one of the most importantly used components in the field of telecommunications. It is basically just a system which can respond to pre-recorded voice inputs and audio tones, and then provide the caller or listener with a further set of instructions that they need to follow. These systems are used to be able to control many functions in which the user interface is adaptable to break down of its core components, so that the IVR can recognise the inputs.

In today’s times, the interactive voice response system is a well defined alternative to the process of processing check cards, credit cards, and checks as well, through a simple touch tone telephone. Checks especially are handled using the ACH software, which is automatic check handling software.

The IVR payment service of today is one enabling merchants who own existing accounts with the payment gateways, to be able to process their customers payments in the mobile system environment, as well as to pay bills via the simple touch tone phone using the touch-tone software program. The technology creates an integration between the transaction processors of the service, along with the already loaded payment gateway, via the touch tone programs, and thus avoiding the requirement for another wireless connection. There is also no need for a wireless connection laptop or any other system. The simple features of the software lets the merchant access all data, users access notes, payment reports and payment gateways all at the touch of one single button.

Advantages of an Interactive Voice Response System: -

·         Real time responses – the IVR relieves the merchant and processor from having to note down the customers card details, invalid authorisation problems, etc. This is due to the superb real time nature of the entire process, giving you a mobile environment feeling. The transactions are submitted real time, enabling real time processing of the output as well.

·         No need for a laptop – for merchants who don’t have wireless laptops and for those who do not wish to carry this luggage around, the IVR is very helpful, as it gives them the freedom to use the same features using a their touch tone telephones.

·         Tracking sales from multiple users – merchants can assign individual PIN numbers to their users, making it possible to keep track of their transactions whenever they make one, and giving the ability to manage the access network safely and securely.

·         Customer’s convenience – using the IVR service, the customers will be able to make their bill payments without ever having to need access to the internet. They can simply call in to the IVR number of their merchants directly, give in their card details, and the transaction is processed immediately by the acquiring bank. This is made easier with the unique PIN number given to each customer.

·         Instant alerts on transactions – as soon as the customer makes a payment on the IVR using the touch tone system; the merchant will receive an alert message as to their account status, thus enabling them to keep track of all their customers’ records effectively.

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