Payment Recovery

Smooth Payment Recovery

Recurring bills means that it is a payment of money for a product or service either before or after it is rendered depending on the agreement between the client and service provider. Since the invention of credit and debit cards, money is automatically wired to the said service provider as it becomes due but we all know that this may fail for one reason or the other. So then how do you go about recovering failed payments from your clients without brushing shoulders with them in the wrong way? Most of the time it is not their fault and they are not even aware that the payment failed. chargezoom will handle the payment recovery smoothly and still maintain good relations with your clients.

A Fully Automated Solution

Use of automated tools like Chargezoom in the recovery process is the best practice. Some of these practices include Dunning, account updater and automatic retries. Dunning is a process by which communication such as use of email is sent automatically to a client informing them of a failed payment. Account updater is actually an automated service offered by some credit card companies such as Visa, MasterCard, and Discover Cards. It monitors the activities of a customer’s credit card and makes automatic updates if necessary to ensure that recurring payments do not fail. Automatic retries is simply retrying failed credit card transactions.

Chargezoom tries to make this process easy, simple and fast automatically without having to spend hours conducting the accounting process manually. Another important aspect of this process is that the payment information is synced in real time.