ProPay, a TSYS® company, today announced the release of ProPay EnsureBill SM, 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. 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dates each year in order to keep accounts active and prevent account closure. 1 Merchants who continue to bill using out-of-date information bear higher rates of declined transactions and extra costs.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|
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|Simple account updates through seamless integration with ProPay’s payment processing platform|