The leading company in the field of automated bill payments, Repay Holdings Corporation, introduced REPAY Voice™, which is an Artificial Intelligence-powered IVR technology that is aimed at revolutionizing the telephone-based transaction process. This platform utilizes a virtual agent that can conduct natural conversation in order to provide a smooth human-like experience of paying bills for users.
The touch-tone IVR systems often experience the problem of high call abandonment rate and user dissatisfaction. The issue is solved with the help of an advanced large language model (LLM). The Virtual Agent understands voice commands, identifies the user, gets account details, and performs payments without the need to interact with numerical keypad menu.
Modernizing the Phone Payment Lifecycle
REPAY Voice streamlines call-based transactions through personalized, context-aware workflows:
Automatic Caller Recognition: Identifies incoming phone numbers immediately to expedite security protocols and identity verification.
Conversational Intent Processing: Allows customers to state their goals naturally, eliminating rigid numeric options or forced voice commands.
Contextual Account Retrieval: Fetches active account balances and stored payment methods instantly to speed up settlement.
Secure Transaction Execution: Confirms payment details verbally and completes transactions in real time, upholding strict data protection standards.
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“Traditional IVR can be a pain point for consumers and businesses,” said Matt Morrow, Executive Vice President, Consumer Payments at REPAY. “REPAY Voice replaces the ‘press 1 to pay’ experience with real conversation. When paying by phone is this easy, more calls end in payment. Businesses collect more, callers experience less friction, and call centers handle fewer repeat calls from frustrated customers.”
Driving Operational Efficiency Across High-Volume Industries
Engineered for sectors with heavy inbound phone traffic including consumer lending, utilities, government agencies, credit unions, banks, auto finance providers, and collection agencies REPAY Voice increases payment collection rates while lowering customer support overhead.
By handling routine payments and inquiries autonomously, the platform frees call center representatives to focus on complex service cases. Organizations can also tailor call flows and payment configurations to meet specific brand and compliance requirements.