AI-Powered Speech Recognition Payments: A Strategy for Contact Centres
In an era defined by a drive for digital and increased demand for customer-centric experiences, your decisions can propel your contact centre operations forward or leave them lagging behind. Businesses are moving away from inadequate, clunky systems and technology to instead focus on pioneering innovations that streamline operations and enhance user experiences to cater to a diverse audience. One such innovative evolution is AI-powered speech recognition payments for contact centres. If you’re a Contact Centre Operations Director or Manager, here’s why this transformative solution should be part of your payments strategy.
Are your customer interactions meeting their expectations?
To help answer this question, we first need to understand the significance of the shift in customer standards:
- 89% of consumers are more likely to make another purchase after a positive customer service experience.
- Customers are two times more likely to share their bad customer service experiences than they are to talk about positive experiences.
How can Voice-Powered Payments elevate the customer journey?
1. Enhances the User Experience:
- Efficiency: A study has shown that more than 76% of all consumers still prefer the traditional medium of phone calls to reach customer support representatives. Traditional payment methods can sometimes lengthen call durations, causing frustration. With voice-enabled payments, transactions are more streamlined.
- Convenience: 78% of consumers have abandoned a transaction or not made an intended purchase because of a poor service experience. Simplifying payment methods with voice can counter such drop-offs.
2. Helps Boost Brand Reputation:
- Security: Consumers want to know that their payment data is secure. PCI Pal’s solutions are built with security at the centre, ensuring compliance with the PCI DSS.
- Innovation: As 68% of consumers are willing to spend more on companies that provide excellent customer service, integrating innovative solutions can enhance brand perception and loyalty.
3. Champions Inclusivity:
- Physical Disabilities: Around 13.3% of people in the UK and 25% of adults in the U.S. have a disability. Businesses can cater to this segment by integrating speech recognition payments, offering them a more accessible payment method.
- Visual Impairments & Hidden Disabilities: Voice payments reduce the reliance on screen readers and cater to conditions like dyslexia, making transactions smoother.
Addressing the Challenges
Introducing any new system can invariably present challenges. Points to consider include:
- Dialect Diversity: The AI must be sophisticated enough to understand various accents.
- Background Disturbances: The system should minimise the impact of external noise.
- Data Integrity: Maintaining data privacy is paramount.
By adding AI-powered speech recognition to your PCI compliant payment solutions, your contact centre can enhance the payment experience, upgrade CX, safeguard brand reputation, and prioritise inclusivity.