Payment retry scheduling
Payment retry scheduling automates the resubmission of failed transactions. This feature allows merchants to configure specific retry logic based on decline codes, transaction history, and customer segments. It is designed to recover revenue without requiring manual intervention, improving overall transaction success rates for recurring payments and subscriptions.
What you get.
- Automated resubmission of failed transactions based on predefined rules.
- Customizable retry intervals and frequency for different decline types.
- Algorithmic scheduling that learns from past transaction outcomes.
- Integration with various acquirers to optimise retry pathways.
- Detailed reporting on retry success rates and recovered revenue.
- Prevention of customer churn due to preventable payment failures.
Common questions.
How does payment retry scheduling improve revenue?
By automatically reattempting failed payments, the system captures revenue that would otherwise be lost. It targets soft declines and temporary issues, ensuring more transactions are successfully processed over time without direct customer involvement.
Can I customise the retry logic for different customer groups?
Yes, Cardflo allows for granular customisation of retry schedules. You can define distinct rules for different customer segments, product types, or subscription plans, optimising recovery efforts based on specific business needs and risk profiles.
What types of declines are addressed by retry scheduling?
Payment retry scheduling primarily addresses soft declines caused by temporary issues like insufficient funds, technical errors, or issuer-side problems. Hard declines, which indicate permanent issues, are typically not retried through this automated process.
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