Great news, you’ve added an IVR payment solution to accept payments from your customers by phone or text. Not only does this provide for an excellent experience for your customers, but it can be a significant benefit to your bottom line. But simply “turning on” payments by phone isn’t enough. Whether you’ve deployed our Compass […]
Blog Posts About Compass Pay
With COVID-19 affecting the economy, companies are looking for ways to maintain cash flow and keep customers paying for services. One of the more popular methods is through the devices customers carry with them everywhere – their mobile phones. IVR payments allow customers to make voice payments 24 hours a day, seven days a week, 365 […]
The Coronavirus pandemic causing the COVID-19 disease has thrown many businesses into a new state of abundant caution. The most common response is to transition most or all employees to a work-from-home status. Yesterday we covered the necessary evolution of CX strategies in a post-COVID-19 world, today, let’s look at what some companies can do […]
Recently I had the distinct pleasure of helping out by working with the local food bank to prepare boxes of non-perishables for local families in need. You know, those folks unable to hoard toilet paper and pasta. It was safe; the fire department provided gowns, masks, and everything else we needed. While there, I had […]
When talking with people about payments by phone with the Compass Payments Suite is, “What does the call flow look like?” So it makes sense to illustrate how a complete IVR payment call flow works. The process falls into four primary stages: Identify Caller: this is where we confirm the customer and retrieve the account […]
We recently had the opportunity to engage in one of our favorite “deep dives” for an electronic billing platform for public utilities. In this case, we not only needed to think about their customers, but also the customers of their customers. Reduce PCI Risk Their customers required a new payment channel, automated payments by phone. […]
The terms and acronyms for electronic bill presentment and payment platforms have evolved into a wild array of names. Where once simply “eBilling” dominated, that morphed into EBPP (Electronic Billing Presentment & Payment), and then Instant Payment Networks, with Subscription Lifecycle Management, Revenue Control Management, and sometimes merely SaaS Billing. No matter what you’re calling […]
January is consumer finance month here at the IVR Technology Group blog. Each month, we’ll focus on a different topic that is essential to our customers. Some of our posts included a customer story on solving long hold times at the contact center of a consumer finance company, the coming PCI DSS 4.0 update, reviewing […]
What you’re about to read is a true story, with a major national retailer you all know. The other day, my wife needed to call the retailer’s call center to make changes to our membership details. Typically, not a big deal. It turned into a moderately big deal, thanks to a poor customer experience. The […]
To address the ever-evolving risks to the credit card payment ecosystem, the Payment Card Industry Security Standards Council has been preparing the next major update to the PCI DSS standard. The PCI DSS framework is 15-years old, and a lot has happened in the payments industry since the first standard. PCI DSS v.4.0 addresses the […]
People are on the go more than ever, and yet the one consistent is the smartphone in their hands, pockets, or mounted on the dashboard of their car. And, they use this device to communicate in many different ways – voice, text, email, chat, social, and more. So, how does an IVR system grow revenue? […]
As businesses close the book on traditional paper-based transactions (pun intended), the decision to move to an Electronic Bill Presentment and Payment (EBPP) provider is not one to make hastily. Although this move is typically predicated upon the directives of the CFO and the Finance team, there are typically 3 important guidelines one should be […]
It’s crazy how much technology is changing day by day and with that change comes the payment evolution. At first, it was paying by cash, then check, then phone, then text to pay! So what are the latest trends when it comes to payments?
The payments industry is set to see dramatic changes in 2018. The emergence of new technologies & consumer payment trends will push many businesses to reflect on their own PCI-DSS liability, including what’s at stake for them if a breach occurs.
Your customers don’t have to buy stamps or wait in line to pay their utility bill. Utility payments are processed within minutes, and your customers can check their balances to be sure their accounts are up to date.
Is your business PCI compliant or complacent? While it’s true that data breaches happen regularly to larger businesses, the impact on SMBs can be worse than you’d think.