Between the business regulations, HR concerns, and TCPA rules directing your internal policies and procedures, it’s hard to believe there is more your call center should think about. However, taking payments means there are multiple payment processing compliance rules your business must follow too.
Keeping all of your regulations straight is time consuming. That’s why many call centers have begun to leverage technology like PDCflow’s FLOW Technology to help them manage compliance and improve payment processes.
What is FLOW Technology?
Components of FLOW Technology
Sometimes taking a payment is a simple process. Other times, interacting with a consumer means sending and receiving documents, requiring signature authorizations and more. Taking all of these actions and still keeping payment processing compliance top-of-mind can be time consuming.
By using FLOW, businesses can combine multiple actions into a single request, cutting down on time and simplifying the process for consumers and staff. This communication method also follows many common types of compliance, making training and monitoring processes easier for management.
With FLOW, businesses can:
- Request credit card and ACH payments - Send payment requests while on the phone with a consumer to guarantee a completed payment. You can also send reminders with a payment link to capture more payments from consumers that prefer to interact through email and text, rather than a phone call.
- Send documents - Send documents in a quick, secure process. Instead of mailing or faxing, your business can use FLOW to ensure the fast document delivery that only the intended party can access.
- Request legal wet signatures - Send contracts, payment authorizations for recurring billing schedules, or other documents that require a signature. Because FLOW produces a legal wet signature, any document you send can be signed electronically.
- Request photos - FLOW allows photo uploads for businesses that require copies of documents or ask for photo ID during a transaction.
- Send FLOWs through text message, email or chat - Cater to consumers by using the channels they prefer most. FLOWs can be sent through email or text message. You can even share a link through your company’s customer service chat feature.
FLOW and Payment Processing Compliance
FLOW’s features were designed with more than just consumer ease in mind. The software is a convenient way to follow many common types of payment compliance.
- Payment Card Industry (PCI) Compliance - Adhere to the payment card industry’s data security standards with minimum effort from staff. Using FLOW takes call centers out of PCI compliance scope, whether they are in an office or work remotely at home.
- Payment Security and Risk Prevention - FLOW Technology offers tokenization and encryption and is PCI and HIPAA certified to reduce your company’s risk and provide enhanced payment security to consumers.
- Dual Authentication - Reduce fraud and meet compliance requirements by requiring dual authentication for consumers to access FLOWs. The shared secret you provide ensures only the right party can access the communications you send.
- Chargeback prevention - FLOW offers customizable receipt text and automatic receipts sent to consumers, so they better remember their purchases. FLOW also offers audit trail reports which allow your business to prove the right party made their payment intentionally through geolocation, date/time stamp and more.
- Regulation E - Fulfill your ACH recurring and one-time payment compliance through FLOW. The software’s features offer all EFTA requirements a business must follow when carrying out electronic funds transfers.
Benefits of FLOW
FLOW Technology features add up to major benefits for companies, agents and consumers. Management saves time adhering to payment processing compliance and training staff on system use. Agents spend less time with consumers, maximizing the interactions they have per shift while simplifying their compliance responsibilities.
Consumers who complete authorizations, payments and other actions through FLOWs spend less time with agents, are not as likely to become confused and overwhelmed by the actions they’re asked to take.
- Improved consumer experience - PDCflow’s software uses the digital channels consumers prefer. FLOW is also more secure than other forms of communication, giving customers peace of mind. Keep their payment data private and make them feel secure by offering a portal that doesn’t redirect them to a webpage they don’t trust.
- Agents close more accounts - Call Agents can stay in control of the conversation. Ending a call before a consumer pays is taking it on faith the transaction will be completed. By using FLOWs, agents can complete all the actions they must while still on the phone with the consumer, ensuring payment before the collection call ends.
- Managers save time and money - Reducing the manual work that goes into payment compliance speeds up daily processes. Adopting a more convenient communication software also decreases the time managers and training departments spend on getting new employees up to speed.
- Legal Wet Signature - FLOW’s digital signature is considered legal, just as a traditional ink signature written on paper – with the added benefit of delivery and completion in minutes, no matter where your consumers are located. There is no need to be face-to-face while documents are being signed or wait for them to be sent back by mail.
- Flexibility - Unlimited templates and the ability to choose any FLOW components you require means you can design a process that fits your business needs.
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- ABOUT THE AUTHOR -
Hannah Huerta, Marketing Specialist
Hannah Huerta is a Marketing Specialist at PDCflow. She creates content for the accounts receivable and payment industry.
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