Recurring payments are the lifeline of many businesses. No matter the billing cycle, the convenience of recurring payments offers predictability, steady cash-flow, and satisfied customers — until the data changes. Whether from reissued, canceled, or stolen cards, data changes can be a challenge to track and update. Businesses that don’t maintain up-to-date records may pay the price with lost revenue, declines, and unhappy customers.
To meet the challenge,
Direct Connect offers the Card Account Updater, a service that refreshes card numbers, expiration dates and other account data. The information is securely updated, ensuring that only the latest data is used during each billing. This can result in increased revenue and efficiency for the business owner, and uninterrupted service for customers.
Card data changes due to numerous situations:
- Expiration date changes
- Issuer brand change
- Portfolio sales
- Card upgrades
- Reissued cards due to data breaches or fraud
- Lost or stolen cards
- Closed account status
Card Account Updater benefits:
- Increase cash flow by reducing declines and card processing fees
- Reduce recurring revenue interruptions without the need to contact cardholder
- Improve operating efficiency by providing automatic updates for Visa®, MasterCard®, and Discover® accounts