Account Updater is the perfect tool to stay on top of customer cards.
One of the biggest pain points for businesses is losing account access to expired cards. This happens all the time because it’s a natural part of owning a credit or debit card. For example, you have a customer, they set up recurring payments for their mortgage, car, debt, etc. then their card expires, and they miss their payment through no fault of their own. Well, this needs to be corrected, and it’s not always a cheap process for the business. You have to take time to find that customer’s information, reach out, and try to gather that data again. It’s a waste of time, money, and resources.
That’s why BillingTree’s Account Updater feature is the perfect solution to keep your revenue cycle flowing without inconveniencing your customers.
Eliminate Missed Recurring or Subscription Payments
Recent projections estimate that 30% of credit cards will experience some change annually, which can be caused by loss, expiration, or even a simple re-issuing.
This happens naturally over time and can have a dramatic impact on the way you do business. Interruptions like these can increase the time it takes you to process payments, create friction between you and customers, and eat away at your resources to track down the new card information. Not only that, but you may have to go back into your system and correct any errors that occurred as a result.
You can avoid the hassle of disruptions to payment plans or subscription payments with a tool that solves payment issues before they even start.
BillingTree’s Payrazr Account Updater works to eliminate all of those missed payments due to cards expiring, being canceled, or re-issued. The tool is automatic and gives your staff the chance to focus on more important things.
Account Updater eliminates the hassle of payment options, not being valid when you attempt a transaction. It’s a simple feature that puts a lot back into your business.
Extending the payment cycle is always costly. You want faster turnaround and more convenience for your customers.
The Account Updater feature is the perfect tool to help keep your business moving forward. Learn more about this feature or request a demo to get started today.