We have recently released a feature that automatically updates customer cards stored on file which have expired.
For merchants who accept recurring payments, maintaining accurate customer payment card data is one of the greatest and most costly concerns facing merchants today. When transactions on these accounts fail, cardholders can be inconvenienced and may terminate their relationship, potentially resulting in lost revenue, lost sales and jeopardized customer loyalty.
Benefits of EnsureBill for merchants using memberships
- Maintain cash flow
- Reduce membership decline charges
- Reduce customer churn
- Maintain customer loyalty due to convenience
Benefits for consumers enrolled in memberships
- Avoid membership interruptions
- Avoid the hassle of contacting customers to update expired cards.
- Increase customer satisfaction
EnsureBill can be added by MyTime to your payment processing account by emailing firstname.lastname@example.org. There is a fee for this feature of $5/mo per MID (subject to change).
*NOTE EnsureBill will not update lost or stolen cards, the service only applies to expired cards.