We’re extremely excited to announce the general availability of one of Recurly’s top requested features, the Account Updater. This service automatically updates customer credit card information when it changes, without you having to take any action, and is offered as a free service through Recurly!
Why is this important? Over time your customer billing information on file may become outdated (for example, a lost or stolen card, or a change in expiration date), causing declines in subscription renewal payments. Unresolved, this can result in payment delays, lost revenue, or even customer churn. Recurly's Account Updater helps prevent this from happening. Free for all payment gateways Recurly supports, you'll rest assured that your customers' billing information is accurate.
How does it work? The service actively maintains up-to-date credit card information, critical to minimizing loss in revenue due to avoidable declined payments. Prior to subscription renewals or card expirations, Recurly validates account credit card information and automatically applies new card information if there are updates. For Mastercard® and Visa® credit cards, we’ll automatically apply the latest account credit card information when there’s an updated credit card number or expiration date. If the credit card account is closed, we’ll update the account to reflect invalid billing info so that you can take the appropriate actions with your customer.
To enable the service for your site, simply go to your Payment Gateways configuration page and click the Enable button under Account Updater. Please note, your site must be in production mode in order to enable the Account Updater.
Soon we'll be expanding the core Account Updater feature set to provide visibility into the customer accounts updated and help further enhance your business insights. Please stay tuned and share any feedback you have about this new service!
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The value of Recurly is that we no longer have to worry about the different aspects of subscription management. Instead, we can focus on things that are our core competency, like adding value to our service and expanding our offering. That’s been a huge win for us.