When a recurring payment fails, we’ll jump in with a backup payment method to prevent involuntary churn.
Recurly has both proactive and reactive strategies to reduce the risk of payment failure—adding a backup payment method is one more strategy to combat involuntary churn.
Best-in-class dunning and an effective means to ensure successful payments on every invoice are critical capabilities. Recurly is an invaluable tool for us in these efforts, providing key information and tools to our sales team.Read case study
A backup payment method is a designated payment method Recurly will automatically use in the event the primary payment method fails when billing for a subscription or one-time charge.
For any invoices that have a decline and a backup payment method can be used, Recurly will automatically attempt to collect with the backup payment method.
There are over 2,000 reasons a credit card transaction can fail and recurring transaction decline rates have remained steady in 2022, hovering around 6.0% for credit cards, 13.0% for debit cards, and 7.0% for APMs according to our State of Subscription research. Recurly has both proactive and reactive strategies to reduce the risk of payment failure, and adding a backup payment method is one more strategy to combat involuntary churn.
Having a backup payment method can prevent any interruption to the subscription and keeps your relationship with your subscribers on good terms.