Great Scott! Our calculations are correct, 1 in 12 card payments fail.
You could be losing $2M in uncollected revenue, due to failed payments
That means lost revenue, increased churn and more bad debt. Watch the video below to see how you can transform failures and optimise your payment strategy.
Reduce payment failures to:
Capture more revenue
Every year Enterprise businesses stand to lose over $2M in uncollected revenue due to payment failures.
Eliminate bad debt
On average, businesses with B2C revenue see 16-20% of their failed payments turn into bad debt, while B2B businesses see 11%-15% turn into bad debt.
Decrease churn
2 out of 3 businesses see their failed payments turn into churn more than 10% of the time, and churn also leads to higher chargeback rates.
8 steps to maximize return on your payment strategy
From the customer acquisition funnel to payment operations, learn how the 8 dimensions of recurring payments work together to make a successful payment strategy.
Use the payment dimension framework to grow your business quicker, and find hidden efficiencies within your payment operations.
Compare how different payment methods stack up when it comes to payment collection, and get important payment benchmarks to see how your business compares to the competition.
How GoCardless can help
Pull-based payment collection
GoCardless is built on BECS Direct Debit also known as bank debit. It's a pull-based, bank-to-bank payment method that allows businesses to pull payments directly from their customers’ bank accounts at the time invoices are due.
Reduce churn
30% of churn is involuntary and often due to failed payments. Maximize your payment success with GoCardless and retain loyal customers for longer.
Intelligent payment recovery
With GoCardless, 97% of payments will be collected successfully at the first attempt. With real-time reporting, you'll know instantly when a payment fails so you can take action.
Trusted by over 55,000 global businesses
GoCardless is used by over 55,000 businesses around the world, including global businesses like DocuSign, SurveyMonkey, Deputy, Siteminder and AON.
Tell failed payments to make like a tree and get out of here.
Speak with a payments expert to learn how GoCardless can help you leave failed payments in the past.