Account Updater
Reduce card declines
and capture more sales
Automatically update card data with account updater
Losing out on sales due to expired or inaccurate card data?
You’re not alone.
A recent study noted that credit card declines were the single largest reason for customer churn among B2B subscription businesses, accounting for 20-40% of the churn and cancellations. Fortunately, Sola has the solution. Our Account Updater tool helps you keep card data current so you don’t miss out on sales.
Keep Recurring Revenue Flowing
Expired or inaccurate card data shouldn’t have to cut into your bottom line—or your busy schedule. Account Updater is a must-have for any business that depends on subscription, membership, or regularly-scheduled payments. Businesses love this tool because it allows them to:
- Decrease card declines as a result of expired or inactive card data.
- Eliminate manual work and a lot of hassle with automatic card data updates.
- Capture more sales and retain customers to ensure a steady stream of income.
No Monthly Cost or Sign-Up Fee!
With Account Updater, you only pay $.25 per card update—no fee to get started and no monthly fee. Don’t miss out on sales.
Account Updater is supported by Sola gateway integrations as well as transactions keyed in through the Sola Merchant Portal. Activate Account Updater by logging in to your Merchant Portal account.
How It Works
When a card is declined, Sola checks for updated information. Account Updater electronically obtains the correct expiration date or account number and automatically updates the customer’s account information for future transactions. The failed transaction will not be reprocessed automatically unless it is a recurring transaction set up in the Merchant Portal that has retry attempts enabled.
Frequently Asked Questions
Will Sola automatically retry the declined transaction once the new card data is obtained?
No, not unless you are processing recurring payments through the Sola Merchant Portal and you have enabled retry attempts. If you are processing recurring payments through a Sola integration for your software, you will need to manually process the payment.
How soon after the card is declined should I retry the transaction?
We recommend that merchants who are signed up for Sola Account Updater wait 3-5 days before retrying the card, as it may take several days for the correct information to be obtained.
Which card brands does Account Updater support?
Account Updater supports Visa, Discover, and Mastercard transactions; however, it does not support Amex transactions at this time. American Express offers its own version of this service. Please contact your American Express representative to learn more.
Does Account Updater work with recurring billing?
Yes, if you currently use the Sola Merchant Portal to process recurring transactions. When a card is declined, the system default is to retry the transaction once per day for five consecutive days for a total of five times. If we receive updated card information before the transaction is tried the 5th time, the system uses the updated information on the next attempt to process the transaction. If the updated information is received after the 5-day retry period, this information will be used for the following scheduled payment.
When Account Updater obtains updated card information, will it replace all of the cardholder’s existing payment methods in the Sola Merchant Portal?
No. When Account Updater is enabled, updated information will only be used on transactions that are made with the declined or expired card. This applies to future transactions using either actual card data or a Sola token.
Can I opt-in for both UpdateYourCard and Account Updater?
Yes. Note that once you’ve enrolled in both, UpdateYourCard will be utilized before Account Updater. In the event that a transaction is declined, the cardholder will first be contacted through UpdateYourCard, and if the transaction is still declined with the cardholder-provided data, Account Updater will go into effect to obtain the correct card information.
Does Account Updater work with tokens?
Yes. We recommend that you save the updated token once the card has been updated and the transaction is approved.
Sola’s proprietary tokenization system replaces customer payment card data with randomly-generated tokens. When processing a transaction, the token is transmitted to a secure environment in which the real data is stored. This system keeps sensitive payment information safe from hackers and simplifies PCI compliance.
Ready to get started?
