Mastercard has recently released new requirements for free trial conversions.Continue Reading
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As noted in a previous blog post, there are different ways to get information out of Recurly, and each option has different pros and cons depending on the specific objective. Using the right tool for the task at hand ensures an efficient use of resources and an improved experience for both you and your customers.
For example, webhooks are a very effective means to obtain information. A webhook is an HTTP callback that occurs when something happens. It’s a simple, automated event-notification system. A web application that has implemented webhooks will POST a message to a designated URL to trigger additional events or notifications.
Many merchants are concerned about their transaction decline rates and want to ensure that the rates are within what is normal for their industry or segment. Their concerns can be amplified by seeing large blocks of declined transactions, multiple attempts to collect on a single invoice, and numerous customer updates to billing information. It's important to note that with subscription billing, declines are normal. For most customers, a decline rate of 5-14% of monthly transactions for business-to-business (B2B) and 6-18% for business-to-consumer (B2C) is about right—but that number will vary greatly depending on the composition of a user base.Continue Reading
In subscription billing, you get paid over time, not up front - so having a stable payment method is crucial. However, credit cards and debit cards, the leading payment methods for subscription billing, often suffer payment declines. Card declines cost you revenue and are a leading cause of customer churn.Continue Reading
Recurly software uses card updates and automatic retries to recover revenue without intervention by merchants or customers. Recurly recovers an average of 7% of your customer revenue with automatic card updates and automatic retries.Continue Reading
For many merchants, the #1 feature of Recurly software is the ability to recover revenue and stop churn that would otherwise be lost to credit card declines.Continue Reading
As I described last week, Recurly generates outstanding amounts of recovered revenue for our merchant customers. Account Updater is a key part of this capability. Recurly added Account Updater last May.Continue Reading
Have you seen a lot of discussion on this site about recovered revenue? Recovered revenue is revenue that Recurly “saves” by automatically fixing credit card declines. How do we do it? That’s the subject of a series of blog posts I’ll be writing over the next few weeks.Continue Reading
Tired of chasing down customers for failed payments? Have spreadsheets tracking declines and email communications and promises to pay? Take advantage of Recurly's dunning management to save time, worry, and money! Dunning (or Delinquent User Notification) is a period of time in which a user's payment has failed and both communication attempts and automated retries occur to recapture their revenue and keep them as an active subscriber. On average 13% of recurring transactions fail, and this process handles the recapture without your staff involvement. Many merchants use the default Recurly dunning settings, but did you know this highly customizable area of Recurly can help maximize your recovered revenue? In this blog post, we’ll discuss your various configuration options and how they can help different business models.Continue Reading