If you’re a merchant with recurring billing for auto-ship or subscription programs, you know the frustration and expense of hunting down updated customer information when a card is declined due to out-of-date credentials.
With Account Updater, credit cards on file are automatically updated when the consumer gets a new card. This means fewer transaction rejections from expired cards, outdated card numbers, and incorrect security codes.
Tokens associated with customer payment information are stored securely in the Nexio Vault
Nexio solicits the card networks daily for token updates
Card networks return updated card data for applicable cards
Tokens are updated within Nexio’s secure vault
Customer friction and declines are reduced, resulting in an increase in revenue and overall customer satisfaction.
Increase revenue with more authorization approvals and fewer declines
Fewer checkout delays due to declined cards or out-of-date credentials
Reduce costs associated with contacting customers for valid payment information
Increase retention rate and minimize the risk of cancellations
Seamlessly integrate with Nexio’s tokenization technology for maximum data protection