• Taking credit card information over the phone seems like a simple process. However, it can be complex for the business taking the information (which must follow safety standards and have a system to input the card data and access the proper bank) and dangerous for the card user. Many credit card schemes are based on phone conversations, which makes it difficult to ascertain identities. However, the growth of phone credit card exchanges has led to some advantages.
  
  

Speed

• Today the speed of voice transactions is met or even surpassed by that of online transactions, but giving credit card information out over the phone is still faster than the traditional method of sending an invoice with the product itself -- especially for the business. There are also many places that do not have access to online systems but can readily give information out over the phone, making the process much more simple for them.
  
  

Security Changes

• Security is a concern when giving credit card information out over the phone -- it is very difficult to ascertain who is on either end, respectively. However, this does have one advantage: it has lead to a reexamination of the credit card system and what can be done to improve security. Now factors like the security code on the back of the card help prevent credit card information theft and misuse.
  
  

Small Business Opportunities

• Small businesses may not be able to create online systems for people to use their credit cards, but many can create simple credit services with an intermediary or software program at less expense. This allows small businesses to accept credit cards at a distance without resorting to complex scalable architecture in payable websites.
  
  

Integration

• Taking credit card information by telephone is just one way that options are expanding to include multiple service options for customers. With the combination of online abilities and phone abilities in many devices, businesses are increasingly able to offer customers a choice between accessing online components or talking to a service person ready to deal with financial data. This choice adds value to many business services.