M I N I M I Z E C R E D I T C A R D D E C L I N E S U S I N G T H E C R E D I T C A R D R E C U R R I N G I N D I C A T O R
PAYMENT INTEGRATION SOLUTIONS FOR SOFTWARE APPLICATION PARTNERS Payment collection is immensely important for subscription/recurring billing merchants. Unfortunately, in today’s environment credit card decline rates present a massive challenge. Fraud, reissued cards, EMV cards as well lost and stolen cards present multiple problems for billers. Source: www.agilepayments.com
30%
30% OF ALL CREDIT CARDS ARE REISSUED EACH YEAR
50% 30%
ON AVERAGE, 15% OF RECURRING CREDIT CARD PAYMENTS DECLINE, WITH SOME INDUSTRIES EXCEEDING 30%
1.5 billion
1.5 BILLION EMV CHIP CARDS ISSUED IN 2015-6
5%
5% LIKELY SUCCESS RATES IN OBTAINING NEW INFO FROM CUSTOMER ON 1ST ATTEMPT AFTER DECLINE
Every merchant faces these problems. Billing platform providers, as well as the merchants themselves, must look at all potential causes and look to mitigate the collective impact. One area often overlooked is making use of the Recurring Indicator. The Recurring Indicator informs the credit card issuing bank that the transaction being sent is part of a regular billing. Visit for more at http://www.agilepayments.com