What are Telephone Merchant Accounts

Merchant Services Q&AWhat are Telephone Merchant Accounts
Bankim Chandra Staff asked 3 months ago
1 Answers
Bankim Chandra Staff answered 3 months ago

Let us Quickly Understand What Are Telephone Merchant Accounts and IVR Merchant Accounts.

As the name suggests a telephone merchant account allows merchants to accept payments of the phone. There are few type of options that are available
Accepting Payments Over Phone Call manually. For this you will need a telephone Merchant Account With MOTO Facility. Here Moto Stands for Mail Order Telephone Order. This kind of solution is generally used at large inbound call centers where customers call and make payments. However getting access to this solution is no easy job. With massive amount of hand burning experience with acquirers it is hard to get approved for a MOTO Telephone Merchant Account. To get this account the merchant must have a very good profile. Excellent organisations with clear and truthful business model may get access to the same in some nations. As of now our payment provider partners in USA, Canada and The European Union Provide This solution.

Advantages Of Moto Telephone Merchant Accounts

  • Since this solution is not for all merchants bust for select with excellent profile qualifying merchants can negotiate for better rates
  • Can help merchants process huge number of inbound transactions
  • Merchants can monitor sales over merchant panel
  • Fully PCI Compliant Solution helps merchants reduce risk
  • Presently Our Partners Providers offer this solution In USA, Canada and The European Union/UK.

The second option is IVR Telephone Merchant Account. This solution is lot easy to get and is secure for merchants and card holders. IVR stands for interactive Voice response System. The PCI Compliant IVR Payment Provider will offer a special dial in number to the merchant. This number is hosted at the gateways tech infrastructure and the gateway provider is responsible for the PCI Compliance. When customers call in to make payments the operators can transfer the call to pay-in number . The card holder will listen to instructions and then make payments. Immediately after the payments the card holder and the merchant get the notification email and sms.

Advantages of IVR Telephone Payment System 

  1. Modern IVR Payment System work tirelessly. Merchant can literally collect payments all the time round the clock. Even on national holiday.
  2. Real time Reporting. With these solutions merchants get access to merchant panel and they can easily monitor all transactions.
  3. This also helps businesses reduce cost as it will result in less man hours required in the customer care team. Merchants can use the resources at some other spot and grow even bigger.
  4. System on auto Pilot. This is true. If you know how to setup web business on autopilot then you will be able to understand better. With customers calling and paying over the phone you hardly need any team members for that department.
  5. Some key industries that use IVR Telephone payment system are Public Sector, Insurance, Adult, Medical Hospitals, Government Agencies. Basically wherever the business is of Pull Mode this solution can have a wonder full significance.

At Quadrapay we have the skills to assist merchants with Robust IVR Telephone Payment System in UK, Canada, US and The European Union/EEA.