Subscription business models rely on cards-on-file for payment but over time these card details on file may become “stale” due to expiry date changes, card number changes and other reasons. If a recurring payment is declined due to card-on-file changes, you will need to contact your customer to get the updated card details. SmartBill Pro reduces the need to chase down card details and helps reduce lost revenue because the integrated card update capability will provide updated card details in order to improve payment processing.
Recurring transactions often take three separate steps (card updates, authorization, and submission) to process. American Express SmartBill Pro combines all three steps into one solution which can help optimize your recurring payment processing.
Rather than sending each individual transactions for processing, with SmartBill Pro you use a batch file to send multiple or mass transactions all at once – again improving efficiency for subscription and card-on-file businesses.