On average, 15% of card payments fail. Whether you’re a subscription business suffering from involuntary churn, or you’re experiencing high levels of bad debt when invoicing your customers, payment failures are a major contributor to the problem.
Payment failures sometimes feel like an inevitability, but they don’t have to be. Success+ collects, on average, 76% of payments that initially fail, allowing you to build a better payment experience for your customers.
Success+ is currently available for Bacs payments (GBP). Additional networks and currencies will be available to Success+ over the course of the year.
Intelligently adapt your payment recovery schedule to match what works best for each customer’s individual needs. 70% of businesses said Success+ improves their relationships with customers.
Success+ does all the heavy lifting, using machine learning to calculate the best time to retry a payment and tracking which payments have been successfully collected. 89% of businesses said Success+ saves them time.
With Success+, minimise both the lost revenue from failed payments and the cost required to attempt to recover those payments.
“Before, we would manually be chasing every failed payment in the same way. With GoCardless, we can avoid chasing and having those awkward conversations when we don’t need to – this lightens the workload for our collections team too.”
Ioannis Georgiou, Co-Founder, Lendwise
GoCardless is the only global network designed for recurring payments. GoCardless customers enjoy a payment success rate of 97.5% before using Success+.
GoCardless processes $13bn+ annually, and has been funded by prestigious investors including Google Ventures and Salesforce Ventures.
Our global data risk management programme is built to GDPR standards and applies privacy best practices to help protect and respect personal data.
GoCardless is regulated by the Financial Conduct Authority in the United Kingdom as an Authorised Payment Institution to collect payments across Europe.