TC CardCurrent™ Is a New Account Updater Service that Assists Businesses with Keeping Clients’ Payment Information Up-to-Date.
If maintaining client payment card information is a challenge, take a look at TC CardCurrent™. This new service, helps make this task easier. An account updating product, TC CardCurrent helps merchants keep accurate customer payment card data on file when accepting repeat, recurring, and installment payments. For merchants who tokenize their clients’ card information for future transactions, this should result in fewer declines when customers’ card information changes due to theft, loss, or expiration.
What Are the Key Benefits?
Some of the important benefits of this service include:
- Decreased payment disruptions, leading to increased customer retention
- Convenient automated updates of critical account information
- Provides visibility into stored account data, allowing for more effective retention management
When customer credit or debit cards expire or are declined, it can be time consuming for staff to reach out to request new card numbers. Oftentimes, it can result in lost business because a customer will close their account or consider alternatives rather than update their information. At a minimum, it can cause a payment delay. TC CardCurrent solves these challenges by updating payment card information behind-the-scenes, without the need to contact customers.
How Does It Work?
TC CardCurrent is easy to set up and use. The solution allows businesses to refresh stored cardholder data proactively by receiving updates to card-on-file account data. Up-to-date billing information will be provided monthly. Regardless of when the billing cycle takes place, card numbers and expiration dates will be current enabling charges to go through seamlessly.
TC CardCurrent is a perfect complement to TC Citadel®, which provides businesses the ability to safely and securely process payments without the need to store cardholder payment information. Merchants exchange payment card information for TrustCommerce issued Billing IDs. BillingIDs are tokens that are not based on the Primary Account Number (PAN) data, cannot be reversed engineered and can be stored in plain text.
To learn more, contact a Solutions Consultant today.