ProPay Aims At Decreasing Card Declines
TSYS company ProPay has announced the release of EnsureBill, a new service that allows merchants to streamline the maintenance process associated with the storage of customer data. The new system makes it easier to update customer information for recurring billing, auto-shipments, subscriptions and other functions.
An easy to miss but also easy to do way merchants manage to charge themselves additional fees due to decline transactions and disrupted billing due to nothing more interesting than account changes. Around 30 percent of cardholder accounts have some kind of change to account numbers or expiration dates each year.
“EnsureBill can have a significant impact on a company’s top and bottom lines,” said ProPay vice president of products Ryan Oakes, in a released statement. “Reducing card declines on monthly billing can lead to improved approval rates and reduce the time and cost associated with manually contacting customers to get updated payment card information. By delivering uninterrupted service, companies are likely to maintain revenues and improve customer retention.”
Customers additionally have an open view of transaction information, which makes potential issues easier to spot and rectify.
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