Budget insight voxpay

Payment initiation by wire transfer: Voxpay integrates our API

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Voxpay reinvents remote payments by offering secure and omnichannel payment solutions. Customer relationship centers, collection agencies, e-merchants, tourism companies, and accounting departments use them to simplify and secure their collection and billing processes. In response to the popularity of instant transfer payments made possible by payment initiation (PIS), Voxpay has decided to integrate our API and Pay solutions.

Franck Mechineau, CEO and co-founder of Voxpay, explains the success of his services, the benefits of payment initiation, and why he chose to collaborate with us.

What issues does Voxpay address?

Originally, our core business was to offer telephony services to companies. In order to meet customer needs, we developed a secure and omnichannel remote payment solution. Whether one is using voice commands, an Interactive Voice Server (IVS), or sending payment links, Voxpay solutions were designed to facilitate the user experience.

Our primary objective is to overcome the obstacles characteristic of existing telephone payment methods, namely:

  • The security of banking data, which is most often not respected. Payment by phone is mostly done through a telephonist who asks the end customer for their bank details to enter into a virtual payment terminal. Cameras and a control protocol were implemented in our clients’ call centers to ensure data security. Unfortunately, these controls have become impossible to perform with the generalization of remote work.
  • The fluidity of the purchasing journey, which is not always offered and often inefficient. Another operating mode is the use of an IVR (Interactive Voice Response), where the end customer interacts with a bot to enter one’s data. The risk of a breakdown in communication here is higher, and the customer experience less fluid.

As such, companies were looking for solutions that combined security, fluidity, and performance. Voxpay solutions are adapted to the latest consumer habits and allow retailers to promote click & collect and call & collect, secure reservations for a restaurant or a hotel, and target and manage  collection campaigns. With as many use cases as there are customer needs, our solutions are PCI/DSS Level 1 certified and meet the requirements of the PSD2.

With Voxpay Live, an agent-assisted payment solution, the end customer is invited to enter one’s credit card data without any channel break into one’s phone during the call. The communication between agent and customer is maintained and continuous. Furthermore, the data is encrypted so that agents cannot access bank details, and they do not pass through the company’s information system. The widespread use of remote work has allowed many companies to maintain a combination of security and efficiency.

Why did you integrate wire transfer? 

With the arrival of the PSD2, our customers have shown a keen interest in payment initiation, which allows them to initiate a transfer order. It was therefore natural to offer them this solution and provide an additional payment method adapted to their needs, thanks to the Budget Insight Pay solution.

This type of transfer revolutionizes the daily life of our customers because:

  • It solves the problem of credit card limits, which is often encountered by players in the luxury, automotive, and travel sectors with high average purchase baskets;
  • It eliminates the need to enter an IBAN, which makes the process more fluid;
  • It allows merchants to eliminate commission fees on credit card payments;
  • It offers instantaneous receipt of funds, which facilitates cash management;
  • The transfer is irrevocable, significantly limiting the risk of unpaid bills. 

What is the payment by wire transfer journey?

Payments by transfer can be made during communication via sending multi-channel payment links (SMS, email, Whatsapp, chat, QR code). End customers receive the link and have to click on it to open their web browser. After entering their email address, they choose their bank and are automatically redirected to the bank’s server for authentication and confirmation of the transfer. 

Merchants wishing to initiate payments by bank transfer are enrolled with Voxpay, where nothing could be simpler. We collect the name of the company and its manager, its address and status, along with the merchant’s IBAN.

After completing various verifications, the merchant gains access to a platform where they can manage requests directly.

Why choose us?

We chose Budget Insight for 4 main reasons:

  • Its banking coverage in France
  • The quality of its technical support and the follow-up in the implementation of the project
  • The automation of merchant enrolment saves a considerable amount of time and provides an efficient customer response

We’re also interested in its plans to extend coverage to other European countries (such as the UK, Spain, Italy, and Portugal) so we can offer our payment by transfer services to customers outside of France. 

Let’s reinvent financial services together!

Want to offer an efficient payment method to your customers?

 
 

 

 

New call-to-action
 
 

 

Why choose Budget Insight?

  • Open Banking pioneer & Open Finance expert since 2012
  • European coverage
  • ACPR approved
  • Guarantees of security and PSD2 compliance
  • In-house risk and compliance department

About Voxpay

Voxpay offers secure and omnichannel remote payment solutions (voice, text message, chat, e-mail). All solutions are PCI/DSS Level 1 certified.

Through seamless communication, Voxpay allows customers to complete payment card transactions over the phone without revealing bank details to the other party.

Using Voxpay’s tools streamlines the collection and billing processes.