Have you been alerting your customers of recently expired or soon expiring credit cards? Not notifying customers when their credit card has expired or is about to expire can result in declined payments and lost revenue for you. And of course, if you have to focus on reminding customers and chasing declined payments, that’s less time and resources you can put towards developing and growing your business.
How can you stay in the know about expiring and recently expired credit cards? ChargeOver provides you two helpful reports right in your Report Center! The Credit Cards Expiring Soon report will give you a list of credit cards being charged for subscriptions that will be expiring within the next month, so that you can remind your customers to update their payment method before their invoice due date comes around.
But of course, you can’t always prevent a customer’s payment method from expiring with no payment method updates to be found. For those cards that do expire, ChargeOver has your back with a built-in Recently Expired Credit Cards report that lists all of the customers with a payment method for their subscription that has recently expired.
With these two reports, it’s easy to keep tabs on which customers need to update their payment method and when payments decline due to credit card expiration! Of course, you knowing about expiring cards is only half the battle - your customers need to be in the know as well!
I know what you're thinking. "This is crazy! How am I going to contact all of these customers about their expiring credit cards and still have time to run my business, eat, sleep, and browse Reddit?"
Luckily, ChargeOver makes it easy to let your customers know when their payment method is about to expire. In fact, all it takes is a quick set-up in your Dunning & Reminders configuration for all of your customers to always be alerted when their credit card is about to expire or has expired without any extra work for you! ChargeOver will even send a secure link to your customers that allows them to update their payment method information right away! When you use ChargeOver’s Dunning & Reminders, the result is streamlined communication that motivates customers to take action in their side of the process, while you avoid spending time chasing payments or updating details.
So what are you waiting for? Click here to learn how to set up expiring credit card alerts in your account, keeping you and your customers in the loop and your recurring billing running smoothly!