subject: Credit Card Processing That Uses IVR [print this page] Credit Card Processing That Uses IVR Credit Card Processing That Uses IVR
Have you heard of credit card processing that uses IVR lately? This news has swept the world of businessmen by storm. IVR or Interactive Voice Response is now utilized to accept payments using a smart phone. By providing the credit card information, payment methods have never been so easy, convenient, and fast.
IVR payment gateways are not only convenient; they are pretty smart, too. The only thing that makes the transaction a success is the five-digit personal identification card. Do you want to know the secret of it all? These gateways store the credit card information in their secured method and it only needs the personal identification pin. This makes every transaction faster since there is absolutely no need to enter so many credit card details again and again for each transaction.
Some people still prefer the old method of entering their credit card number, CVV number, and their expiry date. But for those who like fast transactions, this revolution in credit card payment may just be the next big thing.
Let us consider the advantages. With IVR in credit card processing, we no longer have to depend on computers and internet connections to be able to process credit card transactions. All you need is your mobile phone or telephone number. It doesn't even need an added identification, since your mobile number already serves as identification.
In certain areas wherein internet connection is very slow, or in some cases, absent, the IVR is of great help. For businesses in rural areas and developing countries, for instance, businessmen no longer have to invest in expensive computers and internet connections just to do business. All they need is an inexpensive phone.
Just like any other thing in this world, there certainly are some disadvantages in using IVR for credit card processing. The most important drawback that developers of this technology should consider is the security. The only security you seem to be getting is the five-digit PIN, but that doesn't seem to suffice. But for small businesses, credit card processing that uses IVR is the start of something big for their businesses.
