Failed Payment Revenue Recovery Calculator Demonstrates Impact on Lifetime Value
Customer churn from failed credit card payments makes a serious dent in the bottom line of your subscription business. Even if you’re using some sort of payment recovery, you’re still leaving enormous amounts of money behind. Outbound calling, emailing or texting, and using the pre-packaged payment recovery feature on your billing system just aren’t enough. […]
Failed Payment Recovery: The Cost of Waiting
April 9, 2021 by: Alex Moisley Failed Payment Recovery: The Cost of Waiting One of the most important metrics for evaluating your recovery solution’s success is understanding your current failed payment recovery rate. This is how many failed credit cards you are already reclaiming. We refer to your ‘current recovery rate’ as your ‘baseline.’ Your […]
On-Demand Recovery
February 24, 2021 by: Nick De Guise On-Demand Recovery: What is it? We offer On-Demand Recovery for customers to test our failed payment recovery solution before completing an integration with our API. On-Demand Recovery involves the customer sharing a file that contains a history of declines for our solution to process and recover the failed transactions. We saw a need for this as our team received requests from clients that […]
Stripe: How to Access Your Stripe Secret Key
Stripe Customers – thanks for choosing us as your failed payment recovery solution. Our team is so excited that you’ve decided to move forward with us. To set up your FlexPay account and begin decline salvage, our team needs access to your Stripe Secret Key. This key enables real time recovery for your payment failures. […]
Stripe: Understanding Your Failed Payment Metrics
February 9, 2021 by: Alex Moisley How Do I Make Sense of Stripe’s Payment Failure Reports and Metrics? With over one million customers, Stripe is a complete payments platform. Their platform makes it easy for merchants to process online payments. Unfortunately, helping you understand your failed payments and decline recovery metrics is not Stripe’s strong […]
Subscription Businesses: Should You Focus on Acquisition or Churn
February 5, 2021 by: Trevor Murphy Grow Revenue and Reduce Churn For all subscription businesses, there are two constants: battling acquisition costs and battling churn. Your success or failure with these falls above the gross margin line, and so they scale with your business and constitute among the most important places to put your time, […]
Gateway Response Codes – Part II: How to Handle Common Response Codes
January 22, 2021 by: Jeffrey Pauletto Heads up! Before you dig into the most common response codes, we recommend taking a look at Part I of this article series. The first article goes into more detail on what these codes are and the five categories. How to Handle Common Response Codes As we noted in […]
Gateway Response Codes – Part I: How They Work
January 22, 2021 by: Jeffrey Pauletto Gateway response codes are multi-digit codes identifying whether a transaction is declined or approved. These codes will indicate what action needs to be taken, if any, to retry the transaction. Why are response codes difficult to handle? Handling the response codes you get from your gateway may sound easy […]
Forced Deposits: What Are They and Why Should You Avoid This Practice
January 19, 2021 by: Alex Moisley What Are Forced Deposits? Forced Deposits (also known as Forced Capture) is the idea that if a recurring or multi-pay payment declines, you can try a Pre-Authorization (commonly referred to as PreAuth) for a lower amount. If the PreAuth approves, you can reuse the PreAuth code multiple times to capture the full amount […]
Common Questions When Looking For a Payment Recovery Solution
Your Questions Answered When you first start looking for a solution to help you recover declined and failed transactions, you usually have some questions around chargebacks, how the solution works, integrations, and so on. We’ve compiled a list of the common questions to help you understand our solution and evaluate if it meets your needs […]
