Payment SIGNAL Intelligence
Retry failed payments at optimal times using real transaction data from other merchants. Reduce involuntary churn and recover more revenue.
When a payment fails without your customer being present you have a critical decision to make: when is the best time to reattempt successfully? You could set up basic retry logic over the next few days. You could pay for a "retry logic" product to attempt to deduce the optimal retry based on other businesses and other customers. You could give up and send the customer to collections.
All of these approaches lack one key factor: actual insights about your customer, their payment card, and how they use that card. But they all have the same problems: rising costs for every attempt, and the growing risk that you lose your customer entirely.
Modo's Payment SIGNAL Intelligence tells you when to retry based on real payment transaction data from other merchants, who recently sold something to your customer. If a payment card was declined for your $79 charge but successfully processed a $129 transaction elsewhere a few days later with your customer in person, you know your retry attempt is much (much) more likely to be successful. If a card was declined for suspected fraud but used in person near the cardholder's home the next day, you know the fraud flag was false.
This is opt-in data sharing across merchants. When you query a declined payment, you get intelligence on whether that payment method was recently used successfully, and can register to be notified when it is next used successfully. You retry at the right time instead of guessing.
Why this matters for recurring payments
Failed recurring payments cause involuntary churn. The standard retry approach of immediate / wait a day / wait a few more days / wait a week... burns retry attempts on some cards that won't work yet and waits too long on other cards that would work sooner.
Payment SIGNAL Intelligence notifies you when cards that declined for you, succeed elsewhere. Retry based on actual card activity instead of scheduled guesswork, reducing wasted attempts while recovering more revenue.
How it works
When a payment fails, send basic payment method data to Modo. Get back intelligence on recent successful use patterns. Retry when the data indicates the payment will succeed.
You pay per query. It costs less than blind retries and recovers more subscribers.