Whether you offer a monthly subscription service or use recurring payment solutions for your business, you know how frustrating it can be to see these transactions get declined. Account updater service reduces that stress and helps you stay in the black. No longer will you have to wait for customers to update their information, which could potentially lead to canceled services and subscriptions, and ultimately loss of customer relationships. You’ll save time and reduce costs by not having to hire collection services or staff to manually update account information, which also minimizes PCI scope by reducing staff contact with payment data. Most importantly, you’ll see an increase in revenue, as you receive payments on time from valid, accurate credit cards.
ACCOUNT UPDATER
KEEP YOUR RECURRING BILLING AND SUBSCRIPTION CUSTOMERS’ PAYMENT INFORMATION CURRENT AND REDUCE THE RISK OF LOSING REVENUE.
REDUCE DISRUPTIONS TO SERVICE AND ENSURE A SMOOTHER BILLING CYCLE WITH ACCOUNT UPDATER
Did you know 30% of credit cards experience some type of change annually? Cards may expire, become lost or stolen, be upgraded, or closed. If your business offers recurring billing, subscription services, or loyalty programs for your repeat customers, chances are their stored credit card information will change at some point in time for any of these reasons. Whatever the case, we can help you autoupdate this information and maintain a seamless payment experience for both you and your customers.
- Reduce the risk of lost revenue by automatically keeping payment information current
- Increase successful transactions and avoid fees for declined authorizations
- Improve customer retention by preventing disruptions to service or subscription cancellations
ACCOUNT UPDATER
Click here for a helpful infographic about Account Updater.
HOW DOES ACCOUNT UPDATER WORK?
Using Account Updater is a simple and smart way to increase your revenue, reduce costs, and retain customers. Free Merchant Terminal will work with you to determine a monthly schedule that fits with your recurring card payment cycles. Free Merchant Terminal submits the data to the card brands (Visa, Mastercard, and Discover) for verification against their databases. These databases are continuously updated by participating card issuers when cardholder information changes. Visa Account Updater, Mastercard Automatic Billing Updater, or Discover Account Updater then return a response back to Free Merchant Terminal with the credit card update, including account numbers, expiration dates, closed account notices, or brand migration between Visa and Mastercard to name a few. Free Merchant Terminal automatically updates the information within the gateway and provides you with a notification that changes have been made. The updater service works seamlessly behind the scenes, so there is no additional work on your part except reaping the benefits and growing your business.
ADDITIONAL BENEFITS OF USING ACCOUNT UPDATER
NEW TO RECURRING BILLING?
Have you considered automated billing services, but not sure where to start? Let us show you how to set up recurring payments with the credit card account updater service. Free Merchant Terminal’s automatic billing service will help you manage recurring payments. Your customers will thank you for simplifying the payment experience and so will your bank account as you see a steady cash flow from on-time payments.
How do Payment Gateways Work?
Learn more from our Infographic
SUCCESS STORIES
Free Merchant Terminal reviews and real-world case studies
SEEING IS BELIEVING
View tutorial videos — see our solutions in action
SEEING IS BELIEVING
View tutorial videos — see our solutions in action
