30% of your churn is involuntary, stemming from failed payments. With GoCardless, maximise payment success and retain your customers for longer.
30% of your churn is involuntary
Churn is a concern for every subscription business. Every subscriber that churns is a source of recurring revenue lost, and acquiring a new customer is up to 25x more expensive than retaining an existing one. 30% of that churn is involuntary, typically caused by failed credit and debit card payments. It occurs when a card is lost or stolen, it expires, or the customer’s bank rejects the payment.
We’ve had less than a dozen payment failures since we started using GoCardless eight months ago, which is really impressive.
Patrick Hughes, (Former) Assistant Corporate Controller, Autotask
Pull-based payment collection
GoCardless is built on bank debit, a pull-based, bank-to-bank payment method that allows businesses to pull payments directly from their customers’ bank accounts.
Low payment failure rates
With GoCardless, around 97.5% 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.
Sit back and let Success+ retry payments on the optimal day to collect from each customer. Recover up to 76% of any payments that do fail with Success+.
Optimise your payments with Success+
Success+ does all the heavy lifting, calculating the best time to retry a payment and tracking which payments have been successfully collected. 89% of businesses said Success+ saves them time.
Fully-customisable payment pages
Provide your customers with a seamless, on-brand, and high-converting payment experience right from the start of their relationship with your business.
We have a payment failure rate of only 0.4%, and many of those are rectified instantly upon retrying the payment.
Damian Clements, Finance Director, Yorkshire Energy
"Getting everything live was totally painless"
The British Journal of Photography is a renowned photography magazine with subscribers based all over the world. Using GoCardless, BJOP has been able to increase renewal rate from 60 to 90%, and transform its online offering into an end-to-end subscription model.