There is no doubt that payment through Virtual Terminal by card over the phone is an easy way to make and receive payments.

 To make virtual payment more efficient and secure, IVR Technology Group, a provider of intelligent voice response solutions and Fundtech (News - Alert), a company in global transaction banking solutions, have signed a strategic alliance that will expand the functionality of ITG’s IVR Pay-by-Phone (News - Alert) virtual terminal.  Fundtech’s major product includes regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products.

According to a press release, this alliance will helps users transform any push button telephone into their own virtual payment processing terminal by utilizing Fundtech’s TotalTransact credit card gateway technology. It works with Fundtech’s Total Transact credit card gateway.

Technically equipped with ACH capability with credit card processing, the IVR Pay-by-Phone gateway offers a complete payment solution. It is quite beneficial for businesses as it offers them the ability to certify in accordance with PCI (News - Alert)-DSS (Payment Card Industry Data Security Standard) that the system does not store, process, or transmit payment card data over the VoIP network.

Melanie Hanna, Newton Medical’s Patient Services director said, “We are always looking for ways to improve the experience people have with our hospital. Our patients now have a fast and convenient way to pay their medical bills by using the ITG-Fundtech solution.”

Additionally, the users of the IVR Pay-by-Phone virtual terminal will be able to pay bills via credit/debit card or eCheck, and have the transaction processed and completed in real-time.

Danne Buchanan, Fundtech’s EVP explains, “Our partnership with ITG provides a valuable convenience to end-users, and therefore helps the merchants who use it to be the preferred provider.”

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

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