IVR Technology Group will use Fundtech's Total Transact credit card gateway technology to add payment services to its Pay-by-Phone virtual terminal.
IVR Pay-by-Phone gateway combines ACH capability with credit card processing. The system does not store, process or transmit payment card data over the VoIP network. IVR Technology, based in Buffalo, N.Y., provides customized interactive voice response and SMS text messaging services through a suite of phone automation services.
By working with Fundtech's Total Transact credit card technology, users of the IVR Pay-by-Phone virtual terminal will be able to pay bills via credit and debit cards or eCheck and have the transaction processed in real time, Fundtech said Monday.
Fundtech was acquired by GTCR, a private equity firm based in Chicago, in 2011. It provides transaction banking products to banks and corporations worldwide.