Recurly’s Account Updater Fights Churn in the Background

Failed transactions are an everyday part of e-commerce. As a merchant, the last thing you want to see is the error message ‘card declined.’ On average, B2C and B2B can expect a failed transaction rate of approximately 11.5%. One of the most common decline reasons is outdated card information. That’s an enormous amount of revenue left on the table for such an easy issue to fix. 

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Improve Transaction Success With Recurly’s Account Updater

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.

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Recurly’s Account Updater Service Increases Revenue, Reduces Churn

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.

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How Much Revenue Could You Recover by Using Recurly? Find out!

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Churn Recovered Revenue Account Updater

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.

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Reduce Churn and Increase Revenue: Enable Recurly’s Account Updater Service Now!

“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.

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