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Nexio Launches Decline Recovery to Reduce Involuntary Churn
Monday, December 28, 2020
Decline Recovery helps businesses reduce subscription declines by up to 30% - 50%.
OREM, Utah, Dec. 20, 2020 /PRNewswire-PRWeb/ -- Nexio, a payment platform, is pleased to announce an additional Decline Recovery technology is now available to merchants. This feature is particularly useful for merchants who have subscription services or monthly billing. On average, 15%-30% of recurring credit card payments are declined, with some industries exceeding 30% decline rates. Decline Recovery allows soft decline transactions to be retried and put into a queue.
Nexio uses AI-Driven machine learning to figure out the best time, transit, and testing process to handle the soft decline transactions. First, our system analyzes the merchant's transactions to determine unique patterns. Then we run those patterns through the machine learning models to discover the best way to get increased approvals.
When the first transaction is saved from declining, the future transaction approval ratios increase. This process automatically runs behind the scenes. The customer will not see a difference in their transaction. This feature will help our merchants keep customers who may have been lost due to credit card declines. The recovery rates are between 30% - 50% of merchants declined transactions.
About Nexio:
Based in Orem, Utah, USA, Nexio is a highly advanced, extremely dependable payment hub. The main payment engine is a modular and scalable platform that enables integrated payment solutions to be deployed in domestic and international markets. This is accomplished by successfully decreasing fraud, securing multiple transaction types, leveraging tokenization solutions, and properly managing PCI and EMV compliance. Nexio integrates with solution providers in specific vertical markets.
The payment platform as a service (PaaS) was built with a modern technology stack in a modular and agile form so that it can integrate with legacy technologies as well as accommodate newer solutions that extend to the marketplace in innovative ways. The dashboard's ease of use and configurability quickly give CFO's and other business managers information they can act on to manage and change the business metrics and trends needing attention.
Media Contact
Megan Wintle, Nexio, +1 8016711031, mwintle@nexiohub.com
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SOURCE Nexio
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