Transaction Recycling is a feature of the Recurring Payments engine. Transaction Recycling will help your business recover initially declined recurring payments.
Getting paid faster and without interruption is a topic that gets the attention of all business operators.
In today’s business environment, subscription and recurring payment models are being used more often. For different reasons, authorization attempts are not always successful. Making an additional attempt to authorize a card payment can result in more profits. Making an additional attempt automatically can save money and will allow your revenue stream to continue.
In Transaction Recycling the merchant will receive either a “hard decline” or a “soft decline”.
With a “hard decline” there is little chance of recovering the funds for reasons such as “account closed” or “card stolen”. These accounts will not be active again and in this case there is no point in running these declines through the credit card transaction recycling process.
With a “soft decline” the most common reason is “insufficient funds”. In the case of soft declines there is a good chance of collecting money from the customer.
If your customer gets a “decline” at the normal billing period, our solution will continue to work the transaction based on internal rules for up to 15 days to receive an approval. This procedure happens without merchant or client intervention. Approvals received by our Transaction Recycling engine reduce customer service costs and decrease cancelled service requests resulting continued revenue and higher profits for you.
To receive more information on how our payment processing solutions can help your business increase sales and reduce risk contact an Elite representative at 877-330-3313 or firstname.lastname@example.org