Meritus Payments Solutions announced yesterday that it launched Update XP, its new account updater solution, according to a company release. In partnership with its global payment platform Payment XP, major credit card companies can electronically exchange up-to-date card account information.
Meritus Payments Solutions announced yesterday that it launched Update XP, its new account updater solution, according to a company release. In partnership with its global payment platform Payment XP, major credit card companies can electronically exchange up-to-date card account information. This makes it easy for “recurring and subscription-based merchants to automatically maintain an accurate and current customer database.”
“For businesses that process recurring-based transactions, keeping up-to-date card information can be especially challenging,” says Alan Kleinman, Principal of Meritus Payment Solutions, in the relase. “According to MasterCard, 30 percent of all recurring transactions typically decline due to expired card information or account changes.”
He added, “Update XP allows merchants to access and recover revenue that would typically decline, empowering them to maximize their sales.”
Through Meritus’ global, secure platform Payment XP, merchants can integrate Update XP, minimizing costs that play into manually updating payment data to allow the merchant and their customers a seamless payment experience.
For more on the launch of Update XP, check out the video below.
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