By a combination of factors you have no control over, your business has been deemed a high-risk merchant. Are you doomed to experience a sub-par payment process until the end of time? Manually processing payments until your fingers become calloused and weary? The answer is a resounding NO! It may take some effort on your end to find the right payment partner to create efficient processes, but the work will pay off! Read on to learn more about two noteworthy and automated high-risk payment solutions you should consider.
Integrated Voice Response
An Integrated Voice Response – IVR for short – payment option is an excellent way for your customers to make payments via phone without speaking with a live person. The technology can be used with a landline or mobile phone and operates by either the pressing of telephone keys or speech recognition. As a result, the prompts received from your customer triggers a response from the system and payment information and authorization is obtained and immediately processed. This progressive high-risk payment solution is packed with smart features and benefits:
- Payment compliance is certainly critical for many high-risk merchants to maintain. By creating automatic and standardized prompts, you remove any human error in the payment collecting process and ensure all required language is correctly relayed every time.
- Always on, an IVR payment system is never bound to your office hours. Allowing for customer self-service of payments increases their satisfaction and reduces your headache of dealing with late payments received.
- Systems are easy to set-up, maintain, and a cost-effective solution to reduce staff hours spent processing payments manually. Multi-language systems ensure your entire customer-base is quickly and automatically serviced – no hold time!
An overwhelming majority of businesses today have a website – what some don’t realize is you can accept payments on your URL even if you’re not an internet-based business! Turn your site into a 24/7/365 revenue-generating machine by integrating a simple web payment form. High-risk merchants such as collections, consumer finance, and travel agencies can all benefit from this efficient payment solution. Key benefits of an online payment page include:
- Convenience and ease of use for your customers. A satisfied customer is a happy customer – give them the ability to pay when they want, without the hassle of holding on the line or mailing in a snail mail paper check.
- Experience enhanced efficiencies with a fully automated payment platform. No more mistakenly keying in a payment incorrectly or processing twice on accident.
- Receive instant authorizations and automatic email delivery of receipts customized to your business brand.
Hopefully, you’ve gained some introductory knowledge on two affordable and indispensable high-risk payments solutions. Ready to pull the trigger, but don’t know where to start? Never fear – Payment Savvy is here!! 😊 For over a decade we’ve helped high-risk merchants like yourself gain affordable and innovative payment processing. We offer proven and scalable solutions. Our clients choose us for a variety of reasons including:
- Level 1 PCI Compliant Payment Gateway
- Open API Platform
- Acceptance of all card types – Visa, Mastercard, Discover, and American Express
- Electronic ACH check payments
- Data encryption and tokenization
- Custom built payment programs
- NO contracts
- Real-time reporting
The list goes on and on! We’d love to speak with you about your high-merchant needs and look forward to helping your business be the best it can be! Click here to drop us a line, and we’ll be in touch!