Interactive voice response (IVR) is a cloud-based, real-time, computer-operated phone system that allows customers to perform bill payment and account management activities over the phone and without the assistance of a live representative.
Through voice prompts and keypad inputs, customers can hear their bill balance and payment due dates, confirm amounts, and make payments by credit/debit cards and eChecks. By allowing customers to self-serve, IVR payments have proven effective in reducing delinquencies and call center volumes, as well as improving operational efficiencies.