Understanding What it Means to be a High-Risk Merchant
Has the payment service provider you want to use for your subscription business deemed you to be a high-risk merchant? What does that mean and what can you do about it? You may be upset by their decision but being identified this way doesn’t mean you won’t be able to conduct business. Being a high-risk […]
Understanding Declines and Failed Payments
Every subscription business shares one enormous problem: failed payments. Failed payments are decline decisions on credit card authorization requests. But even though the problem is common, many businesses need help understanding declines and failed payments. According to Visa’s own data, an average of 24% of subscription credit card payments are declined by the card authorization […]
Updated Mastercard Merchant Standards for Subscription Billing Merchants Effective September 22, 2022
Here is an overview of the updated Mastercard merchant standards for subscription billing merchants that came into effect September 22, 2022. These apply to recurring payment transactions/subscription billing for the delivery of physical products or digital goods, but do not apply to payments for utilities, telecommunications, insurance policies, or existing debt. 1.) Merchants must disclose […]
Recent Increases to Interchange Rates
There were recent increases to interchange rates in April that may affect your subscription or SaaS business. Here are the key rate changes you should be aware of. Changes to Visa The most notable changes for Visa include the Visa Product 1 CNP consumer and consumer rewards, signature, and signature prefer cards, where fees went […]
Give Me a Break! The Easiest Method for Increasing Subscription Customer Retention
Inflation has gone up substantially in the past few months and with it comes higher prices and job insecurity — not exactly the ideal environment for extra consumer spending, even if your subscription product or service is typically well-loved and needed. People are tightening their economic belts and that could mean more churn and reduced […]
The Best Ways to Recover Failed Payments and Save Customers
When you’re running a subscription or SaaS business with recurring payments, having some payments fail each month is to be expected. There’s a huge problem in the payment ecosystem because card-issuing banks decline many legitimate transactions in their attempts to prevent fraud. It’s painful, but true. This leaves subscription businesses scrambling to figure out the […]
I Feel Good! How to Create Positive Feelings About Your Subscription Business
When it comes right down to it, your subscription business is all about relationships. And just like any relationship, there are ups and downs, especially the longer you’ve had a customer. Of course, you want to do anything possible to prevent your customers from breaking up with you. Nobody wants a customer to churn. So […]
Survey Says! Using Customer Feedback to Improve Your Business
Are you looking for ways to improve your subscription business? Using customer feedback is one of the simplest things you can do to make positive change, increase customer satisfaction, and create revenue growth. Some companies may shy away from asking for feedback because they think it only means negative criticism. This isn’t necessarily true. Feedback, […]
Customer Lifetime Value and the Value of Recovery
Consistent revenue growth and profitability are key components of any subscription business but losing customers because of failed credit card payments is a huge barrier. For every new customer you bring in, you could be losing dozens more. Measuring your lost revenue isn’t simply a matter of considering one month’s payment, however. You also need […]
6 Proven Customer Retention Tips for Subscription Businesses
Getting customers is the hard part, right? Now you can just sit back and watch the subscription dollars roll in. Not so fast. While customer acquisition isn’t easy, you can’t relax and forget about your customers after they’ve signed up. If you’re not paying attention to their needs and delivering on your promises, there are […]
