Optimizing Subscription Payments
Churn-Driving Payment Declines Are Subscription Providers’ Top Threat
More than one-quarter of subscribers faced declined payments within the past year, leading many to either abandon their services or switch to competitors. Optimizing Subscription Payments, a PYMNTS and FlexPay collaboration, surveyed 2,200 U.S. consumers to examine the steps subscription providers can take to keep a lid on churn and keep customers engaged for the long haul.
Inside the September Report
- 80 percent: Share of U.S. consumers who have at least one subscription
- 27 percent: Portion of subscribers who experienced a declined payment within the past year
- 27 percent: Share of consumers affected by declined payments who let their subscriptions end or switched to competitors as a result
