Recurring payments are slated to grow to $1.5 trillion by 2025, reflecting the rise in consumer subscription purchasing driven by COVID and the convenience of monthly and yearly automatic billing. While a lucrative and dependable source of revenue from companies, maintaining credit and debit cards on file can be complex, costly and time consuming since cards frequently expire or are reissued. Bluefin’s Account Updater, powered by CardSync, seamlessly retrieves updated card information from card issuers when a customer’s card is expired, lost or reissued, with no action required on the merchant or consumer’s end.
Bluefin has partnered with industry leader CardSync to provide our clients an automated service that retrieves updated card information on all Card Brands from participating Card Issuers worldwide. Account Updater is fully integrated with Bluefin’s PayConex™ payment gateway to update card information from Visa, Mastercard, Discover and American Express, facilitating a faster turnaround in payments and a seamless customer experience.
Key Benefits
Maximize Revenue
Avoid interruptions in recurring / subscription payments that can result in cancelled orders or services and get more accurate cash flow reporting.
Decrease Costs
Increase authorizations and reduce declines, while eliminating costs associated with contacting customers for new information.
Simple Implementation
Fully integrated and managed within PayConex recurring billing and APIs; control and customize the frequency of when card updates take place to suit business needs.
Improve Customer Satisfaction
Prevent service disruption, protect product continuity and increase client satisfaction by maintaining accurate card-on-file information.
Transparent Pricing
Pay only for successful updates on credit and debit card data, regardless of the number of inquiries that are sent.
Reduce PCI Liability
Eliminate the need for employees to record and manually update cardholder data, ensuring qualification for the PCI SAQ-A.
Savings Calculator
Our solution is fully integrated and managed within our PayConex recurring billing tool and APIs.
Answer two questions about your recurring transactions to see the amount of savings Account Updater can bring to your organization.
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On average, 30% of cards-on-file will be declined during a calendar year. Savings are calculated based on maintaining accurate card information with no interruption to billing. Additional savings can be expected from staff efficiencies and a decrease in overhead.
Get Account Updater Through PayConex
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