Customer Defined Retry Logic
One of the most costly aspects of running a SaaS, member-based or Not-for-Profit organisation is the cost of failed payment management. We’ve seen extreme cases where it’s been cheaper to write payments off as bad debts, rather than chase, such is the cost.
We’d like to solve that problem for you.
Paydock helps with our automatic retry (dunning) feature. We’ve received a lot great feedback on this, however, one of the most common feature requests we get is:
“Great, but can I set the number of retries, and the gap between them?”
We’re pleased to announce that as of today, yes you can. Paydock customers are able to define how they want Paydock to manage their dunning processes for them, removing significant cost, better managing the customer experience and assisting with cashflow by reducing the period which a payment remains outstanding for.
The two settings Paydock customers can manage now are:
- the number of retries on a soft failed payment
- the time between those retries
You could specify Paydock to perform 2 retries, each 48hrs apart, for example.
This is available today under the My Company link. See screenshot below.
This is available today on all gateways and payment types which we manage recurring payments for.
We hope you enjoy this new feature and find it of great use in removing payments pain and increasing your bottom line.
To payments freedom.
All of us here at Paydock
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