Great Scott! Our calculations are correct, 1 in 12 card payments fail.
You could be losing $1M 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 your payment failures and optimize your payment strategy.
Reduce payment failures to:
Capture more revenue
Every year Enterprise businesses stand to lose over $1M 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.
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 bank debit (also known as ACH debit), a pull-based, bank-to-bank payment method that allows businesses to pull payments directly from their customers’ bank accounts.
30% of churn is involuntary, stemming from failed payments. Maximize your payment success with GoCardless and retain loyal customers for longer.
Intelligent payment recovery
With GoCardless, more than 97% of payments will be collected successfully at the first time of asking. With real-time reporting, know instantly when a payment does fail 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 enterprises like DocuSign, LogMeIn, 8x8, Box and SurveyMonkey.
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 improve your payments.