Account updater bypasses the manual labour by automatically updating accounts paid with either Visa® or Mastercard®, enabling customers to proceed with business-as-usual instead of manually resolving unexpectedly declined payments. Whether it’s an expiration date change or a new card number, changes in a cardholder’s information can have cascading impacts on all recurring payments tied to that card information on file.
Most credit cards expire within three years, meaning that on average 3% of card-on-file payments are tied to expiring cards each month. Account updater service enables merchants to manage cardholder account information changes without having to reach out to the cardholder for updated card information, potentially risking the loss of current and future sales.
Your customers also benefit from easy and convenient updates of account information for future recurring payments, avoiding the hassle of having to provide updated information to every business and the potential for late fees or possible delay in service.
Benefits to cardholder
Cardholder satisfaction is enhanced through transparent and convenient account updates to all registered recurring payment or card-on-file cardholders. The automatic account updates prevent declined payments and late payment fees, further improving cardholder satisfaction.
Account updater provides uninterrupted service to cardholders, whose card-on-file information has been automatically updated. This makes the account update process systemic with little effort by the cardholder to maintain a seamless experience.
The right payment solution can help grow your business, set you apart from competitors and augment your brand.
We want to hear from you. If you are interested in setting up a new merchant account with us, please contact us through the form below and we'll call between the hours of 9:00 AM and 7:00 PM EST, Monday-Friday. If you require assistance with an existing account, please call our customer service line 24/7.
This contact form is for CA customers only. If you are looking for one of our other locations, please visit elavon.ca/country-selector.html to find your country or region.