When your business has a lot of frequent, repeating transactions and payments, you have to make sure that these payments aren’t unnecessarily interrupted — payment disruptions not only affect you, but also affect your customer. Consequently, many businesses decide to keep their cards on store to avoid this problem.

Keep your card’s info up-to-date

When saving the cards on behalf of your customers, you have to make sure their details are always updated — even if the card is lost, stolen or expired. With that in mind, the card schemes provide Account Updater services that let businesses and acquirers replace invalid card numbers with new ones automatically.

PayXpert Account Updater

PayXpert Account Updater functions in real-time to guarantee your stored card records are valid. Our platform connects you to Visa and Mastercard Account Updaters, saving you the hassle of having to formally enrol with the card schemes and validate compliance, which is managed by us. With PayXpert’s technology, no matter if the transaction happens today or two years from now, you are always sure the card data is up-to-date.

Automatic retries

Payments frequently fail because of an outage or downtime in the patchwork network of legacy systems that constitute the traditional payment flow. To limit the impact, retrying payments that fail because of technical reasons works very well.

Tweak your billing strategy

There is not much you can do if your customer has insufficient funds. But you might be able to increase the odds of a successful payment if you bill your customers at the right time of the month.

The graph below shows the refusals due to insufficient funds in different countries. For example, the UK sees a spike in refusals toward the end of the month, just before payday.

Process subscription and recurring payments with PayXpert

PayXpert offers integrations to the most significant subscription management systems. You’ll benefit from a range of features like PayXpert Account Updater and Auto Retries.

Guide | Recurring payments with PayXpert

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