Business

2.5 Percent of All Card Declines Can be Recovered with No Integration Required

Adyen first to launch real time Mastercard account updater service globally

This OCT 26-27, 2018 — Comes an amazing Physician lineup of more than two dozen speakers on topics in Concierge Medicine that include: Latest Telehealth Trends; StartUp Insights; Pharmacogenomics (PGX); New Patient Marketing & Retention Tips and Strategies; and so much more! REGISTER NOW! http://www.ConciergeMedicineFORUM.com

AMSTERDAM – (June 4, 2018)Adyen, the payments platform of choice for many of the world’s leading companies, today announced its direct API integration with the Mastercard® Account Updater service. Qualified merchants processing with Adyen globally can now increase revenue from card-on-file payments by automatically updating Mastercard accounts in real time.

RELATED STORY | CONCIERGE MEDICINE
Have you OR Your Patients Hit ‘Subscription Overload?’

The direct API connection helps to prevent card declines due to account changes caused by expiration dates or new replacement card numbers, among other reasons. Microsoft and Twitter are among Adyen’s merchants using the Mastercard Account Updater service.

“The subscription economy is experiencing massive growth, with 100% increase year-over-year for the last five years[1]. Beyond digital services, Adyen is seeing a strong uptake in physical products like cosmetics, fashion and bicycles now offered as a subscription service. Payments are a critical touchpoint for ensuring uninterrupted service for customers and sustained revenue for merchants,” said Roelant Prins, chief commercial officer at Adyen. “Adyen, together with Mastercard’s Account  Updater, is focused on making the highest number of payments succeed by automatically updating card data at the point of transaction, preventing involuntary card declines due to expired or replaced cards.”

“Today’s consumers have their card information stored at multiple online stores and in the event the card gets replaced, it is an inconvenience to remember and update the card details at all the stores,” said Johan Gerber, executive vice president of security and decision products at Mastercard. “As the first payments platform to use our Account Updater API, Adyen is giving merchants a powerful tool to provide a better, seamless consumer shopping experience by automatically updating the details.”

Adyen’s use of the Mastercard Account Updater API can be activated instantly with no merchant integration required. Adyen also provides merchants extensive live performance data including authorization rate impact by issuing bank and decline code. For more information, please visit www.adyen.com.

About Adyen

Adyen is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers’ globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Netflix, Spotify, Casper, Bonobos and L’Oreal.

 


[1] McKinsey&Company, February 2018, “Thinking inside the subscription box: New research on e-commerce consumers”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s