Decline Salvage By Verifi
Last Updated on September 28, 2023 by Corepay
If you’re a business owner that relies on recurring payments or subscription-based models, you know how frustrating it can be to deal with declined transactions. Lost revenue can pile up quickly, especially if you’re not equipped to handle the situation. That’s where decline salvage services come in.
These solutions save transaction information that has been declined due to lack of funds or credit and try again on a different day or with a different merchant account. By integrating with reliable partners, decline salvage services can preserve your business’s profits and reduce outstanding payments.
Not only can decline salvage services save you money, but they can also prevent involuntary customer churn and subscription renewal challenges. For example, Verifi’s decline salvage solution recaptures declined card transactions and boost lifetime value.
Preventing churn is critical for maximizing your return on investment, and decline salvage services can help you avoid the costly issue of involuntary churn.
In this article, we’ll dive deeper into decline salvage services, how they can help merchants, and why you might need one. We will also break down why we believe we’re a perfect fit for your business.
- Decline salvage services can help businesses recapture declined transactions and free up revenue.
- Protecting approval rates is crucial for success on initial and rebill transactions, and decline salvage services can help increase approval rates by 5-10% or more.
- Using decline salvage services may pose risks to a merchant identification (MID) reputation and should not be used with essential MIDs.
- Involuntary customer churn, caused by expired credit cards, can result in lost revenue. Still, services like Verifi’s Decline Salvage solution can help recapture declined transactions and prevent the problem of involuntary churn.
What Is Decline Salvage By Verifi?
Verifi’s Decline Salvage solution helps businesses recapture declined transactions and prevent involuntary customer churn, a common problem for subscription-based companies with recurring payments. With Decline Salvage, businesses can fix and avoid the issue of declined payments due to expired credit cards, insufficient funds, or technical errors.
The solution saves the declined transaction information and attempts to process it again on a different day or with a separate merchant account, freeing up business revenue.
In addition, Verifi’s Decline Salvage solution boosts lifetime value by recapturing declined card transactions. This solution puts an end to worrying about the impacts of involuntary churn on a business’s long-term revenue streams.
By fixing the problem of declined transactions, businesses can retain loyal customers who want to keep paying for their products and services, maximizing return on investment.
How Can Decline Salvage Help Merchants?
As a merchant struggling with recurring declined payments, you may wonder how to free up revenue and preserve your business profit.
By saving declined transaction information and retrying it on a different day or with a different merchant account, decline salvage can help you recoup revenue that would otherwise be lost. Decline salvage services benefit merchants in high-risk credit card processing or subscription/recurring billing.
With the help of decline salvage, you can improve your approval rates for initial and rebill transactions, leading to gains of 5-10% or more. Some clients have even reported seeing increases of 20-30%.
Do Merchants Need A Decline Salvage Service?
Merchants should seriously consider implementing a decline salvage solution to prevent lost revenue and maximize return on investment.
As mentioned, recurring billing or subscription-based businesses often face many declined payments due to a lack of funds or credit. This affects their cash flow and results in involuntary customer churn.
How Merchants Can Get A Decline Salvage Service
If you’re looking for decline salvage services, look no further than Corepay.
Corepay provides the best decline salvage services on the market, and our partners offer decline salvage services integrate directly with our payment gateway. This makes the process seamless and easy for merchants to implement into their business operations.
Don’t let declined transactions hurt your business’s revenue and reputation; contact Corepay today for a decline salvage solution.
Why Choose Corepay For Decline Salvage Services
Are you Looking for a solution to prevent lost revenue and retain loyal customers?
We understand the frustration of involuntary customer churn and work to prevent it by salvaging declined transactions and reducing decline rates for recurring card billings that average 25-30%.
Corepay’s decline salvage solution ensures businesses can focus on their core operations without worrying about lost revenue. We offer a streamlined process that helps merchants maximize their approval rates and minimize the impact of involuntary churn.
On top of decline salvage, we offer reliable and transparent payment processing for high-risk merchants that focuses on recurring billing models.
Please fill out the application below to find out how Corepay can help you with decline salvage.
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