PayU India Launches Interactive Voice Response (IVR) Payment Facility
IVR systems provide over-the-phone payment processing which is highly beneficial for both merchants and customers. While customers can conveniently pay by phone, companies can cost-effectively acquire new customers, beyond the online strata.
Explaining the flow of payment through IVR system, co-founder and country head Nitin Gupta says, “When a customer is ready to make the payment via telephone, the telesales executive informs him that he can complete the payment process through an interactive voice response feature. After the customer’s consent, the executive connects him with PayU’s IVR payment facility. At this juncture, the call is controlled by an automated interactive voice response system. This gives the customer, a much needed security to transact comfortably. Once the customer confirms the transaction amount and his phone number, he can proceed to enter the credit card information. The payment process gets over as soon as the customer punches in the one time password (OTP) procured from the card issuing bank. PayU sends an immediate SMS alert to the customer regarding the transaction details, while the telesales executive can view the same details under the billing tab available on the merchant dashboard.”
In developing countries like India, where internet and PC penetration are comparatively low, PayU’s IVR payment facility will help the merchants to grow as owning phone is more affordable than owning a PC and internet connection. Also, internet connection may not be available all places all the time. This surely is a good move by PayU.