VCC Live unveils Recurring Payment for VCC Live PayReading Time: 2 minutes
VCC Live Pay is undoubtedly one of VCC Live’s best features, and now this feature has become even better.
In 2016 we introduced VCC Live Pay, a new, effortless way to arrange payments. It allows clients to complete card payments during a phone call. Until today, this service was only possible for one-time payments. Now, however, we bring VCC Live Pay’s latest innovation: the Recurring Payment feature. For the first time, as well as being able to arrange one-off payments, VCC Live Pay can also now handle recurring transactions.
Since releasing VCC Live Pay last year, our customers have reported that they have been achieving remarkable results, with up to 30% percent of their customers being interested in making payments during a phone call. With Recurring Payments, we hope we can go even further. We believe this feature provides the fastest solution for arranging monthly payments, such as insurance-, subscription- and utility-fees, as well as debt collection and donations. And it is also the most effective way of making payments as, just with other online payment methods, it has no cost for our client’s customers.
Using the Recurring Payment feature is simple. Firstly the customer and operator need to agree on the fixed amount. Then the customer needs to provide their debit card details, using their phone’s keypads. Once all details have been confirmed, the operator can initiate the recurring transaction request. If the transaction is successful, it is confirmed instantaneously and from this point on VCC Live’s system debits the funds from the customer’s card each month. If the system’s attempt to carry out the transaction is unsuccessful, it can immediately connect an operator to the customer to re-confirm correct payment details. Alternatively, it can notify the customer via text message.
While the Recurring Payment feature is simple to use, it is the result of extensive research and development. We explored various options in order to find out how we could further improve our service, and to provide an even better payment solution. We quickly discovered that there was a high demand for a method that could make arranging monthly payments effortless. Our Recurring Payment feature satisfies this demand by reducing the need for user input – our system integrates with our financial partner’s payment gateway during the automated payment process.
Of course, with a payment service like this, security is extremely important, and as such VCC Live Pay is PCI DSS (bank card security), ISO 27001 (information security) and ISO 22301 (business continuity management) certified. The details required for each payment are directly transferred to our financial partner, and data is not shared with the operator or disclosed in any way during the process. Even DTMFs (dual-tone multi frequency) are filtered when the client uses their phone’s keypad to enter credit or debit card details, so that they also cannot be decoded.