Simplify Recurring Payments
Declined recurring payments can be costly, time intensive, and damaging to the relationship between customer and cardholder.
Elavon’s Account Updater bypasses the manual labor by automatically updating accounts paid with either a Visa® or Mastercard® card, enabling customers to proceed with business-as-usual instead of manually resolving unexpectedly declined payments. Whether it’s an expiration date change or a new card number, changes in a cardholder’s information can have cascading impacts on all recurring payments tied to that card.
Account Updater Benefits
Updating Credit Cards And Supporting Cardholders
Most credit cards expire within three years, meaning that on average 3% of card-on-file payments are tied to expiring cards each month. Elavon’s Account Updater service enables customers to manage cardholder account information changes without having to reach out to the cardholder for updated card information, potentially risking the loss of current and future sales.
Cardholders benefit from an easy and convenient update of account information for future recurring payments. Additionally, cardholders avoid the hassle of having to provide updated information to every business and the potential for late fees or possible delay in service.
Benefits to Cardholder