Failed payments are a concern for every business. Customers can unintentionally churn when their payments fail and 11-15% of uncollected funds turn into bad debt.
Although not all customers are unwilling to pay, complex and manual collections processes give every customer the same payment recovery experience.
Success+ intelligently manages your late payments. Automatically collecting 70% of failed payments on the day best suited to your customers. Creating a smoother experience for them and better cash flow for you.
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 Success+?
Put your customers first
Save your customers from awkward conversations by collecting failed payments on the day that’s best for them. 70% of businesses said Success+ improves their relationships with customers.
Save time and stress
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+, you recover more revenue efficiently so fewer payments are written-off as bad debt or involuntary churn. Success+ increases 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.”
