What is Account Updater and how can it help reduce declines?  

What is Account Updater and how can it help reduce declines?  

If you offer recurring payments, you can use the Account Updater to check for changes in your shoppers’ card details and ensure they are up to date. With recurring payments, a shopper uses the same card to make recurring payments over a period of time. But payments can stop when a shopper changes their card details or cancels a recurring payment agreement without contacting you.   

Out-of-date payment information can result in a loss of revenue, reduced customer satisfaction and an increase in declines. Account Updater allows your customers to continue using your service without interruption, benefiting your business and customers alike.  

What is Account Updater?  

The Account Updater automatically updates the subscription on your customers card data when the cardholder information changes or goes out of date. Say goodbye to monotonous admin tasks, losing sales due to declined payments or chasing details for expired or lost cards, giving you the freedom to do what you do best in the business. The Account Updater service checks for the following changes, so you do not have to:  

• A shopper’s card details have changed  
• A shopper has cancelled a card  
• A shopper has cancelled a recurring payment agreement through their card issuer  
• The card issuer has cancelled a shopper’s card account  

The Account Updater ensures your customers can continue using your service seamlessly and without any disruptions. It helps you minimise rejected transactions, reduce chargebacks, reduce unnecessary customer interaction, lowers staff and administration costs, and reduce costs of manually updating payment data. If your business depends on recurring payments and subscriptions, an Account Updater is crucial for consistent cash flow.  

Reducing card declines and failed payments  

Out-of-date payment information is one of the main reasons for card declines on recurring payments, causing unnecessary work for both your business and your customers. Not only is this frustrating, but it also affects your revenue and cash flow. 
By implementing the Account Updater, this reduces declines and failed payments, by ensuring your customer’s details are always up to date and payments can go through seamlessly.  

Overall, the Account Updater is the perfect solution for a seamless and hassle-free payment service for your customers. In a world where subscription services are more popular than ever, ensure your customers’ payments go through without a glitch.   

Visa Europe, Visa Inc and Mastercard are all supported by the Account Updater service. Please find out more about how Axcess can assist your business and your payment needs by contacting us today.