Merchant Account:
IVR payment systems are most often provided by telecommunications companies. However, to process card payments, your business needs to have a merchant account. Merchant accounts can be attained by a merchant account provider which is a specialised bank that will approve merchant transactions. The bank will handle the transfer from the customer’s bank account to your business bank account.
Payment Gateway:
To accept IVR payments, your payment gateway needs to enable this option. Secure IVR payment system work with the payment gateway enabling a business to remain PCI-compliant.