About the Report:

Subscription businesses work hard to attract customers—but payment declines can send them right out the door. In fact, more than a quarter of subscribers experienced a declined payment in the past year, and many either canceled or switched providers.

Optimizing Subscription Payments, a PYMNTS and FlexPay report, dives into insights from 2,200 U.S. consumers, revealing what subscription providers can do to reduce churn and keep customers engaged.

Key insights:

• 80% of U.S. consumer have at least one subscription 
• 27% of subscribers experienced a failed payment within the past year 
• 27% of consumers let their subscriptions end or switched to a competitor as a result of a declined payment