If you’re an e-commerce business, two of the most dreaded words you’ll hear are “card declined.” When a credit (or debit) card is declined, the sale can’t go through and you don’t earn that revenue. If you’re a subscription business processing a recurring payment, a declined card can also result in involuntary subscriber churn.Continue Reading
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What do you think caused 5.5 million people in Britain to cancel their credit cards last year? If you guessed fraud, you’d be right. Those 5.5 million people comprise a full 12% of the population—one million higher than last year and evidence that cybercrime has gotten worse in that country and people are taking action to protect themselves.Continue Reading
Subscription-based businesses strive to do many things: delight their customers, further their mission, grow and expand. Subscription businesses work hard for their revenue, much of which is paid via credit cards, which present a risk—the risk of failed transactions which are the enemy of growth due to the churn they cause.Continue Reading
“Card declined”—two words that subscription businesses hate to hear. Credit card declines result in the loss of revenue and increased churn, impacting your bottom line. Some number of declines are unavoidable, and as discussed in a recent blog post, some payment events—such as the widespread issuing of new EMV cards in the United States this year—can also result in increases in both failed payments and card-not-present fraud.Continue Reading