Recently, we've seen the rapid adoption of card-on-file payment models in multiple areas of our merchant base.
From on-demand and sharing economy businesses, to mobile payments and subscription models that reduce PCI DSS scope, it's increasingly clear that card-on-file payments are key to many successful businesses.
Account Updater automatically checks for and updates account numbers and expiration dates for cards on file with your Automated Recurring Billing (ARB) subscriptions and Customer Information Manager (CIM) profiles. Using Account Updater can help you avoid interruptions to scheduled recurring payments and unnecessary declines resulting from cards with updated account numbers or expiration dates.
While card-on-file solutions can reduce customer friction, updating those cards when they expire or are re-issued can have the opposite effect and lead to lost sales or customers. With that in mind, we are pleased to release a new Account Updater feature that will automatically update consumers' card-on-file information for your merchants once a month.
The Account Updater service will be priced at $0.25 per card update.
Please enroll in Account Updater directly within your Authorize.Net Merchant Interface during activation of your account or after your Gateway is set up.
For additional details please click here.