Credit Card Account Updater
Keep Your Customers’ Credit Card Data Updated Automatically
No More Out of Date Payment Info
If your business offers subscription services or recurring payments, one of the biggest stumbling blocks to collecting payments is when a transaction is declined due to out of date payment information. Wind River solves this problem for you by automatically updating your stored credit and debit card data.
Examples of the type of card data that is kept up to date include:
- Expiration date changes
- Card upgrades
- Account number updates
- Reissued cards
- Lost or Stolen Cards
More Than Just Convenience
Besides eliminating the need to manually update your customers’ payment info, Credit Card Account Updater includes several other important benefits.
Decreased Payment Disruptions – Out-of-date payment information causes disruptions that lead to payment delays at best or lost sales/closed accounts at worst when customers are forced to consider alternative services.
Reduced Collection Costs – Collecting payments on accounts that have expired card information is a troublesome and costly process. Credit Card Account Updater can eliminate or reduce your need to put accounts in collection status.
Increased Productivity – Free your staff up for more important tasks by allowing them to spend less time reaching out to customers for updated payment information or manually collecting payments.
How it Works
Businesses that process a lot of recurring monthly payments (membership organizations, health clubs, self-storage, periodicals and other subscriptions, etc.) can save time, effort and potentially reduce customer attrition by updating card information automatically without customer contact.
The process is simple. Your customers’ payment information is stored securely. Credit Card Account Updater will review that payment information on a monthly cadence. If any changes are recognized, the updated information will be securely transferred back to you and ready for the customer’s next scheduled transaction. This way, regardless of when the billing cycle takes place, card numbers and expiration dates will be current, thus enabling charges to go through seamlessly.
Save Resource Time
Automatically updating credit card data will enable you to eliminate the hours upon hours your staff spends chasing down customers for updated information. One Wind River customer was able to reduce the time it spent resolving declines due to inaccurate card data by 60 percent!
Ready to Protect Your Subscription Services and Recurring Payments?
Recurring subscription services are highly convenient for both you and your customers. When that service is disrupted because of a declined payment due to an out-of-date expiration date, your customers can be become frustrated – and that frustration can lead them to research alternative services. With Credit Card Account Updater, you eliminate that possibility before it’s even a concern. Contact us today!
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