My business runs on monthly recurring billing of $19.95. The bain of our existance, one of our biggest business problems, is credit card declines.
This quarter, I want to understand how the best companies handle this.
In an email from Discover, I read this morning:
Account Updater Service. You and your Merchant Processor may participate in our optional new Account Updater Service, which will enable you to receive periodic electronic files with changes to the Card Accounts that our records indicate participate in Recurring Payments Plans with you. Enrollment information is available from your Relationship Manager or at DiscoverNetwork.com.
WOW, that's exciting - enable you to receive periodic electronic files with changes to the Card Accounts that our records indicate participate in Recurring Payments Plans with you - Does that mean what I think it means? Will they tell us about credit cards that have been updated? Does Visa & Mastercharge have the same thing?
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