Summary

Account Updater is a powerful feature that automatically updates expiration dates and other information for tokenized payments before the cards expire. Expired cards is one of the top reasons recurring payments fail and without a feature like this, the merchant is forced to have someone on their team outbound call or email until the card is updated. That is a costly investment that is completely automated with this feature at no extra cost.

Availability

Available to all brands that have Tokenization enabled.

Tokenization

<aside> 💡 Note: There is no additional cost or fee to the merchant and it’s automatically enabled as soon as they tokenize any card. Only works with tokenized cards.

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Processor

Brand	Available
Adyen	✅
Stripe	✅

Operation

Account updater provides a better overall customer and merchant experience by saving our merchants the hassle and money of having to call or email their customers to get updated card information when a card is close to expiring or a scheduled charge fails.

Consumers are increasingly apprehensive about providing card details online due to the amount of fraud happening today, so streamlining the process without having to collect additional card details is extremely helpful.
This keeps the merchant totally PCI compliant so no more having to write down credit card information, or input it into a computer where potential malware, viruses, or hackers can potentially access the personal information, causing a data breach and loss of customer trust and potential legal implications.
When merchants outbound call or email to collect updated card information, there is always a percentage of customers that forgot they were getting billed for that good or service and request to cancel. By updating it automatically, that lost revenue is saved.

<aside> 💡 Note: Once enabled, it works in the background, requiring no manual intervention from the merchant.

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Additional Information

We collaborate with card networks (like Visa and Mastercard) to get real-time updates on card changes so the moment card information is changed or is about to expire, it gets updated automatically. The only exception to this is when a card is reported lost/stolen and is shut down (this helps prevent thieves from tokenizing cards to reuse them).