Customer credit card data changes and changes frequently. Card expirations, data breaches, and fraud detection are all situations that can result in credit card data changing without a merchant realizing it.
If you don't have the latest customer data in your system, your payments may fail, resulting in a dissatisfying customer experience for everyone involved.
Qualpay Account Updater automatically updates outdated customer card data and any related tokens. It will share the updates with you to enable you to show the right information to your customers, of course, not the full payment details. With this feature, you no longer need to contact customers to update their card information directly.
Expired customer credit card data is particularly problematic when it comes to automatic payment plans. This can include utility bills and subscription services like Netflix.
Many customers simply forget to update their information. But the Qualpay Account Updater takes care of this issue. This means fewer missed payments, no late fees, and no need to turn off a service until the payment is collected.
Our Account Updater technology takes advantage of a service provided by the card brands to see where customer information may have been changed or altered. Key product features include:
Add it all up, and our Account Updater will identify changes in credit card numbers and expiration dates. Then, it automatically updates the old information to reflect the new in your customer file.
Qualpay Account Updater is ideal for merchants operating in businesses where regular and recurring payments are common, as well as when you support a customer account and stored payment details for bill payments, including:
Whether a card can be updated using the Qualpay Account Updater depends on the customer's issuing bank. The good news is that most banks support this automated functionality. Better still, the Qualpay Account Updater supports all four major card types.
Contact us today to learn more about how Qualpay's Account Updater works. If you are not yet a Qualpay customer, take our Savings Challenge for a personalized rate analysis.