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
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In many communities, finding a babysitter or nanny is hard. Sittercity realized the challenges parents and others faced and launched a website to solve the problem, providing parents with a better, more effective way to find childcare. Founded in 2001, the service—which is accessed via a monthly subscription fee—has connected millions of families across the U.S. with qualified babysitters and nannies.Continue Reading
Credit cards are an extremely convenient way to pay for online purchases. However, subscription businesses can face challenges in successfully completing recurring payments via credit cards. This is because after the initial payment at signup, various factors can cause the recurring payments to fail. The most effective way to repair the transaction—and thereby “recover” this revenue which would have otherwise been lost—is to employ automated tools and processes.Continue Reading
Here’s a really useful blog post from our friends at Price Intelligently, titled “How to Turn a SaaS Company Around in 90 Days.” While it’s written with a SaaS audience in mind, the concepts are solidly applicable to nearly any subscription business.Continue Reading
Recurly is pleased to announce the release of new research which examines some key metrics for credit cards vs. debit cards. In particular, we focus on how much revenue can be recovered from failed transactions for each card type. Repairing failed transactions is an important aspect of mitigating involuntary churn which can and regularly does occur when a recurring payment is declined. Our research shows the significant revenue that Recurly can recover from failed payments, from both credit and debit cards.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
A few months ago, we discussed the methodology behind the revenue that Recurly recovers for you each month. We heard from many of you who enthusiastically wanted to learn more about this valuable behind-the-scenes feature. Starting today, you'll now see your Recovered Revenue right in your monthly invoice to see just how much money Recurly has helped you gain in the last month.
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