Card Account Updater

Card Account Updater is a service offered by major card networks to automatically update card-on-file details. Card Account Updater ensures that merchants always have the latest card information (like updated card numbers and expiration dates) for their customers. This service helps maintain seamless recurring billing and card-on-file transactions without needing the customer to manually update their card details. For merchants, this can result in higher authorization rates and improved customer satisfaction.

Unlike traditional methods of handling card updates, where merchants rely on customers to provide new card details, Card Account Updater automatically updates the card information directly from the card issuer. This proactive approach introduces an additional layer of convenience and security for both merchants and customers. Should a card be updated due to expiration, replacement, or re-issuance, Card Account Updater ensures that the merchant receives the updated details promptly, minimizing the risk of transaction declines.

How Card Account Updater Works

Update Process: The Card Account Updater process begins when a customer's card is updated by the card issuer due to reasons like expiration, replacement, or re-issuance. The card issuer sends the updated card details to the card network. The card network then forwards these updates to the merchant through the Card Account Updater service. The merchant's payment system receives these updates and automatically replaces the old card details with the new ones, ensuring continuous service for the customer without interruption.

Processing payments with Card Account Updater: During a transaction, the merchant uses the updated card details provided by the Card Account Updater service. These details are sent to the payment gateway or card network for processing. The transaction proceeds as usual with the most current card information, ensuring a higher likelihood of successful authorization and reducing the risk of declines due to outdated card data.

Benefits of using Card Account Updater

Using Card Account Updater to manage card details offers several advantages over relying on customers to update their information:

• Improved authorization rate — Since Card Account Updater ensures that merchants always have the most current card details, transactions are less likely to be declined due to outdated information. This leads to a higher authorization rate and a smoother customer experience, as legitimate transactions are processed without interruptions.

• Seamless customer experience — Customers no longer need to manually update their card details for recurring payments or card-on-file transactions. Card Account Updater automates this process, reducing friction and enhancing the overall customer experience. This is particularly beneficial for subscription-based services, where continuous service is crucial.

• Reduced operational overhead — By automating the card update process, Card Account Updater eliminates the need for merchants to manually contact customers for updated card information. This reduces the administrative burden on the merchant's staff and allows them to focus on more critical business operations.

• Improved customer retention — By ensuring that recurring payments are processed without interruption, Card Account Updater helps maintain customer satisfaction and loyalty. Customers are less likely to experience service disruptions, leading to higher retention rates.

How to start using Card Account Updater

Evervault provides a set of easy-to-use APIs designed to let you integrate Card Account Updater in minutes without having to interact directly with the card networks. To assist you in getting started, we've prepared a series of quick start guides. These guides are designed to walk you through each step of the Card Account Updater integration process, ensuring a smooth and efficient setup.