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February 4, 2022

Top 5 Tips to Hacker-Proof Your IVR Payment System

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Top 5 Tips to Hacker-Proof Your IVR Payment System

An IVR payment system allows companies to offer customers an alternative way to make a payment, especially when they may not feel comfortable giving their credit card or bank information to an agent over the phone. Despite this extra layer of security, many consumers are still hesitant to divulge their financial information over the phone using IVR. Contact centers can reassure their customers that their private data is safe by providing transparency into the security initiatives the business takes to ensure that their IVR is hacker-proof. 

What is an IVR payment system?

Before delving into the security aspect of IVR, let’s go over what an IVR payment system is. An IVR payment system uses Integrated Voice Response technology to handle inbound or outbound customer calls. The main purpose of this IVR setup is to accept payment. An IVR payment system could allow customers to pay by credit card or debit card. Many also accept bank routing and account numbers over the phone as a form of payment from customers.

A secure IVR payment system is non-negotiable

When a customer initiates the IVR payment process, they must first verify their identity through personal information only known to them, such as a PIN number or passcode. Only then will they have access to information about their account and the ability to make payments. However, in the past, it hasn’t been uncommon for wrongdoers to gain access to sensitive information through scams using IVR and hacking techniques such as “voice phishing.”

It isn't uncommon for IVR payment systems to be hacked using voice phishing scams.

One bank’s customers were the victims of such a scam. After many of the bank’s customers received a text message saying that they needed to reactivate their debit cards, the scammers also sent a phone number that led to a phone line with IVR. Along with that phone number provided, the customers also received instructions to input their debit card information and PIN number into the IVR when prompted so they could “unlock” their cards. As customers called to “reactivate” their debit cards, the hackers were able to steal 250 credit card numbers. 

In other instances, hackers have repeatedly gained access to financial information through IVR with techniques such as information harvesting (guessing PINs and account numbers). Some will use tone manipulation to attempt to crash the IVR software. Stories like this make it difficult for customers to feel comfortable giving their payment information over the phone. You can reassure your customers that their data is 100% safe with your company’s IVR system by following these 5 tips to hacker-proof your IVR system:

  1. Set up several layers of verification through your IVR system. When a customer calls in to access their accounts, you can have the IVR verify more than just their name and address. Set up specific security questions during initial account setup to reduce the risk of unauthorized users gaining access to accounts. IVR systems with AI advanced voice recognition can be configured to grant access only after a customer provides the right answers to their security questions. 
  1. Implement multi-factor authorization into your IVR. This extra layer of security sends customers a code either through text or email before allowing access to their accounts via IVR. They must then verify this unique, one-time code before moving further. The chances that a hacker would also have access to a victim’s email are less likely to happen, which makes MFA a preferred security measure of choice. 
  1. Ensure that your IVR system is PCI-DSS certified to meet security standards, and displays strict adherence to compliance laws and regulations such as HIPAA, FISMA, or FedRamp. Staying up to date on security standard certifications and thorough adoption of their associated protocol is critical to the safety of consumer information. As technology advances, so do the techniques that hackers use to steal data. Updated standards make sure that providers are aware of new security vulnerabilities every time. 
  1. Configure your IVR software to prevent it from recording credit, debit, or bank account numbers. This feature can recognize when a customer is about to provide sensitive data and automatically starts and stops recording as needed. 

Inform your customers about the measures your company takes to prevent fraud. For example, you can periodically remind them that your company will never send them a text or email asking them to input their credit or debit card numbers into an IVR system. If they ever get a strange request like this, they will know they need to check with your company first.

Which are the best IVR payment systems?

Taking care to implement these 5 tips will help your company keep its customers’ sensitive information safe from IVR system hackers. Protecting sensitive customer data should be at the top of every small business and companies’ priority list. The consequences of stolen financial information can quickly become very expensive. 

Many large public companies have been victims of cyber hackers. As a result, they’ve faced multi-million dollar lawsuits filed by consumers whose information was compromised through those cyber attacks on companies’ networks.

At LiveVox, we take security and compliance seriously. We stay on top of the most advanced technology updates to ensure that our services provide the utmost protection for sensitive data. With over 20 years of experience in the industry, LiveVox is PCI-DSS and SOC 2 certified. We can confidently put business owners at ease. Consider evaluating your current IVR security strategy and reach out to us so that a LiveVox representative can help answer questions you may have.

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About LiveVox

LiveVox (Nasdaq: LVOX) is a next generation contact center platform that powers more than 14 billion omnichannel interactions a year. By seamlessly unifying blended omnichannel communications, CRM, AI, and WEM capabilities, the Company’s technology delivers exceptional agent and customer experiences, while helping to mitigate compliance risk. With 20 years of cloud experience and expertise, LiveVox’s CCaaS 2.0 platform is at the forefront of cloud contact center innovation. The Company has more than 650 global employees and is headquartered in San Francisco, with offices in Atlanta; Columbus; Denver; New York City; St. Louis; Medellin, Colombia; and Bangalore, India. To stay up to date with everything LiveVox, follow us at @LiveVox or visit livevox.com.

To stay up to date with everything LiveVox, follow us at @LiveVox, visit www.livevox.com or call one of our specialists at (844) 207-6663.

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