The Credit Card Updater offers merchants the opportunity to reduce the decline and failure rates associated with recurring payment transactions. On average, 25% of all subscription billings fail each year due to expired or replaced credit cards, increasing unnecessary processing costs and customer attrition. Based on the merchant?s desired intervals, Credit Card Refresh automatically updates credit cards which are expiring or were replaced because they were lost or stolen. SparrowOne?s Data Vault safely stores the new information and ensures that future charges will be successful.
Your Results:
- No more manually updating customer?s card information due to a lost, expired, or stolen card.
- Decreased processing cost due to lower decline rates.
- Reduced customer turnover that is caused by clients not updating their card after a replacement.
- Reduce customer service agent?s exposure to confidential payment data.
Unique Features of Card Refresh:
- Ability to choose a designated date and recurrence schedule for a Card Refresh.
- Multi-tier rules that ensure the Card Refresher only updates cards that fit predefined requirements.
- Capability to limit the number of Card Refreshes as a means to control spending.
SparrowOne’s fee structure and management features will save most customers 25% to 50% on their monthly update charges.
Example
Recently we reviewed a client?s use of this option with Authorize.net and their migration over to SparrowOne. The cost and performance with SparrowOne made an immediate difference for their management of this important process.
SparrowOne vs Authorize.net
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Authorize.net | |
| Reporting: | ||
| Text Reporting |  |
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| Report Exporting | |
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| Graphical Performance Dashboard | |
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| User Defined Periods | |
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| Automated Email Report | |
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| Control and Management: | ||
| Monthly Run | |
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| Designate Date for Run | |
(2) |
| Multi-Tier Rules | |
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| Designate by Active or Inactive for ARB | |
Suspends always run |
| Designate Update Timing | |
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| Limit Number of Update Attempts | |
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| Cost Estimate Calculator | |
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(2) These are run on the 14th of the month only, per Authorize.net FAQ.