- Soft fails or Decline response: A payment capture attempt that failed but may indicate that an additional attempt may succeed such as when the customer has insufficient funds. The classification of the type of fail is performed according to the error code returned by the payment provider and follows industry standards and recommendations.
- Hard fails or Reject response: A payment capture attempt that failed and indicates that additional attempts will subsequently fail such as when the account has been terminated. The classification of the type of fail is performed according to the error code returned by the payment provider. Hard fails will not be resubmitted for capture.
Billing Retry Logic
Based on Vindicia’s payment expertise, and drawing insights from our vast data and knowledge around payment success, Vindicia Subscribe offers high caliber retry logic to increase the rates of successful payments.
Depending on the relevant vertical, around 15% of payment transactions fail. These failures reduce your revenue, and more significantly, they cause customer lose, reducing the customer life-time value for the subscription plan.
Subscribe Retry logic recovers up to 20-30% of these failed transactions automatically – without needing to contact and inconvenience the customer – thereby reducing churn and increasing long term revenue for the merchant.
Subscribe uses machine learning as well as savvy business rules to empower retry mechanisms and optimize billing windows. Additionally, Subscribe supports the full customer lifecycle providing retention methods such as multiple billing methods, multiple payment methods, free-trial offer logic, grace periods to allow for missed payment resolution, pausing and resuming subscription options, or billing plan by customer type or affiliate.
Subscribe’s handling of failed payment transactions includes handling of: