Reduce Involuntary Churn
Maximize approval rates and provide a seamless experience for customer growth.
What is Involuntary Churn & Why should I Care?
Involuntary churn is a significant issue. Declined transactions, regardless of the reason, cost more than just the payment amount. They jeopardize your customer relationships, which is detrimental for both parties.
Causes of Involuntary Churn
Expired Credit Cards
Customers often forget to update their payment information when their credit cards expire.
Insufficient Funds
Customers may temporarily lack the necessary balance to cover the subscription cost.
Lost or Stolen Cards
When customers cancel their cards due to loss or theft, it can inadvertently affect their subscriptions.
Payment Processing Errors
Technical issues during the payment process can lead to failed transactions.
Fraud Suspicion
Banks may decline transactions flagged as potentially fraudulent, even if they are legitimate.
Outdated Billing Information
Customers may not update their billing information when they move or change banks.
Keep Your Customers
Preventing Involuntary Churn with Decline Management Methods
Account updaters keep billing info current
Protect your business from fraud-related losses by proactively blocking transactions from specific BINs associated with high-risk factors.
Dunning handles the problem before customers have to
Effective recovery processes not only recapture lost revenue but also improve customer retention rates. Reducing involuntary churn by addressing payment issues helps maintain a stable customer base, which is crucial for long-term growth.
Automated dunning emails keep consumers informed
Automated dunning emails keep customers aware of billing issues with quick, clear notifications, helping them resolve problems fast and reducing unnecessary churn.
Flexible subscriptions make it easier for consumers to pay
For subscription-based businesses, recovering declined payments can lead to a substantial increase in monthly recurring revenue (MRR).
A good payment interface makes updating information painless
For subscription-based businesses, recovering declined payments can lead to a substantial increase in monthly recurring revenue (MRR). Investing in decline recovery processes is cost-effective compared to acquiring new customers.