Automated IVR Credit Card

Since 900 numbers cannot be dialed from cell phones, it is becoming increasingly important that information providers also offer an automated credit card option for their programs as well.

With an automated credit card program, consumers dial a toll free 800 number and then enter their credit card details via touch tone phone. Advanced Telecom Services’ sophisticated IVR credit card processing system obtains the credit card details and then queries the bank to see if the consumer is using a legitimate credit card and that he or she has an adequate balance available on it.

All credit card transactions go through a thorough “scrubbing” process to verify the legitimacy of the proposed transaction. Such scrubbing eliminates recently known stolen credit cards and those with a poor payment history and thus does not allow such calls to access the program.

It is important to note that an automated IVR credit card is a higher risk transaction for banks.  Therefore, the return on such high risk banking transactions is less than what a retail store would be able to obtain, given that there is no physical presentation and signature associated with the transaction.

The company maintains both a retail bank account and a secondary bank account for high risk transactions such as psychic phone calls or those callers with questionable payment histories. While the high risk account does cost more, it adds an additional layer of protection against fraud and continuing banking ability should a large charge back occur.

Advanced Telecom Services offers three types of credit card processing:

• PAYGO – Pay as You Go transactions. The consumer is initially approved for a set amount ($50 for instance) and then at the end of the transaction, the payment amount is adjusted based on the total minutes that the consumer has spent in the program.
• BLOCK OF TIME – With Block of Time, the consumer purchases a pre-paid amount of minutes on the IVR service. The consumer receives a unique PIN and password to access those minutes in the future. When remaining minutes get low, the IVR system announces such to the consumer and encourages him to add additional minutes. Usually, there are discounts given for larger purchases of minutes.
• PRODUCT ORDERING – In some instances, an automated system works better and is significantly cheaper than live operators for ordering of products. An automated program works best when there is not a large amount of differing products; for instance, an extensive array of colors and sizes for clothing. It works great for charitable donations!

Today, it is imperative that you satisfy the entirety of your market and adding an automated credit card program is part of that requirement. Advanced Telecom Services can design the best automated credit card processing program for your specific needs.

Financials – Automated Credit Card

• Initial Investment = $1500
• Monthly Banking Access = $150
• Call Processing = .10/minute
• 800 Number = .05/minute
• Revenue Share = 80%
• Banking Fees = .30/Charge Fee + .15/Authorization Fee

Call us at 1-610-688-6000 (U.S.) or 1-416-800-2490 (Canada). Or, complete and submit the Contact Us form today.