ProPay® Releases Account Updater Service
New service helps merchants increase revenues by reducing card declines
LEHI, Utah & COLUMBUS, Ga.--(BUSINESS WIRE)--ProPay, a TSYS® company, today announced the release of ProPay EnsureBillSM, a service for merchants who accept recurring payments. Helping to streamline the process of maintaining and updating stored customer payment card information, it updates customer information for recurring billing, auto-shipments, subscriptions and other functions.
“Reducing card declines on monthly billing can lead to improved approval rates and reduce the time and cost associated with manually contacting customers to get updated payment card information. By delivering uninterrupted service, companies are likely to maintain revenues and improve customer retention.”
Typically, 30 percent of cardholder accounts undergo changes to account numbers or expiration dates each year in order to keep accounts active and prevent account closure.1 Merchants who continue to bill using out-of-date information bear higher rates of declined transactions and extra costs.
"EnsureBill can have a significant impact on a company’s top and bottom lines,” said Ryan Oakes, vice president of Products, ProPay. “Reducing card declines on monthly billing can lead to improved approval rates and reduce the time and cost associated with manually contacting customers to get updated payment card information. By delivering uninterrupted service, companies are likely to maintain revenues and improve customer retention."
|Benefits of ProPay EnsureBill|
|Benefits for Merchants||Benefits for Customers|
|Simple account updates through seamless integration with ProPay’s payment processing platform|
Since 1997, ProPay has provided simple, secure and affordable payment solutions for organizations ranging from the small, home-based entrepreneur to multi-billion-dollar enterprises. ProPay is a leading provider of complete end-to-end payment security solutions designed to significantly reduce the client organization’s risk of having sensitive payment data compromised. ProPay is the recipient of the prestigious 2010 ETA ISO of the Year award. ProPay is a wholly owned subsidiary of TSYS (NYSE: TSS) and is a leader in payment data security. For information, visit www.propay.com or call 888.227.9856.
At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief "People-Centered Payments®." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.