Every business needs to make the process of taking card details over the telephone secure and efficient. Prommt is a payment request platform that will transform the way you secure and collect payments over the phone...
Sometimes workarounds don’t always work very well. That’s particularly the case when it comes to mail order/telephone order (MOTO). Let me explain what I mean.
Businesses in the regulated sector — personal finance or insurance companies, for example — may have to record customer contact calls. If the customer provides sensitive card details during the call, they have to find a way to pause or suppress recording for data security reasons.
Solutions are available, yet they come at a cost. That’s both in terms of budget and the time it takes to train staff, re-engineer processes, monitor the effectiveness of this and update it.
Large businesses running large customer contact centres may be able to absorb such costs. But for smaller or medium-sized businesses, it’s a different story. What’s more, it may not fit the way they trade either.
If a small business receives one-off orders from customers with whom they have no previous relationship, or if it receives repeat orders from regular customers who do not have an account, then paused call recordings and the clean desk policies of large contact centres may not be practical.
Up until now, the solution has been cash-on-delivery or simply turning away the business. If the business involves delivering goods or services, then having drivers carrying physical cash on their rounds may not be safe.
Payment on invoice has obvious cashflow implications as well as the potential for payment defaults and the admin costs required to chase late payment.
Prommt provides a better solution. Businesses can take orders from customers on the telephone and then send a secure, personalised payment link via email or SMS. Customers click on the link and enter their payment details to complete the sale via PXPs ANYpay secure payment gateway.
It’s quick, convenient and secure for customers, but it also helps reduce operating costs for businesses, who do not have to store, process or transmit sensitive card data, thereby reducing their data security risk and PCI scope.
It also helps move businesses from a cash-on-delivery to a pre-pay model. Businesses benefit from easy processing and timely payment. Card payments are authorised within seconds and businesses receive funds within their settlement time limits agreed with their acquirer (this could be as quick as same day), which helps improve cash flow.
PXP Financial has recently announced a new partnership with Prommt to enable secure pay-by-link or SMS payment. The new functionality is available to all PXP Financial customers now via the ANYpay gateway. This new service is also available with PXP’s own Acquiring services.
If you’d like to learn more about how PXP and Prommt can transform the way you request, collect and manage payments, book a demo today. Simply email sales@pxpfinancial.com or complete the form below.