Failed payments are a concern for every business, as they can lead to unintentional customer churn – and 11-15% of uncollected funds turning into bad debt.
With Success+, you can intelligently manage late payments, ensuring they’re retried automatically on the best day for each customer.
Collect up to 70% of failed payments while creating a smoother experience for customers and better cash flow for your business.
70%
Average recovery rate of failed payments
Results were measured in a timed experiment during the launch of this product. Actual performance may vary, depending on your specific attributes and the types of customers you have
Why use Success+?
Put your customers first
Save your customers from awkward conversations by collecting failed payments automatically on the best day for them. 70% of businesses said Success+ improves their relationships with customers.
Reduce your admin burden
Success+ does all the heavy lifting, automatically retrying payments up to three times and with visibility of which payments have been successfully collected. 89% of businesses said Success+ saves them time.
Increase your revenue
With Success+, efficiently recover more revenue, so fewer payments are written off as bad debt or involuntary churn. Increase your payment success rate to 99.1%.
“The impact was immediate — we’ve seen payment failures drop from 3.6% to 0.48% in three months. This 7.5x improvement in failed payments collected is huge for a fast-growing company like Plum — and helps ensure a seamless experience for our customers.”
