Revenue Recovery Tools

Overview

2Checkout provides recurring-revenue-based businesses with a comprehensive suite of revenue recovery tools, as well as the expertise and guidance to tailor and fine-tune your strategy to achieve industry-high revenue loss prevention and revenue recapture rates. Use the Revenue Recovery Tools to fight involuntary churn and increase your long-term revenues by up to 20%.

Revenue Recovery Tools are a unique set of features of the 2Checkout platform that are used for recovering and collecting transactional revenues lost due to poor authorization rates and include, without limiting, the following :

Availability

• Basic revenue recovery tools are available by default for all types of plans (2Sell, 2Subscribe, 2Monetize).
• 2Recover add-on is available on demand for all types of plans (2Sell, 2Subscribe, 2Monetize).

Basic Revenue Recovery Tools

Basic revenue recovery tools are available for all accounts (2Sell, 2Subscribe, 2Monetize).

Account Updater

Account Updater is a key customer retention tool designed to support seamless updates of credit/debit card account information. 

What is Account Updater Service

Account Updater is a generic term for programs such as Visa's Account Updater or MasterCard Automatic Billing Updater that are offered by the credit card networks to automatically update subscription customer card data when cardholder information changes or goes out of date.

How Does an Account Updater Service Work

This service records changes to credit card account numbers and expiration dates due to mergers, portfolio flips (e.g., Visa to MasterCard), re-issued cards (from loss or security breach) account closures, and product upgrades.

Companies that participate in updater programs have several ways to check the information in their subscriber database: automated nightly updates that check any card you have processed in the past six months, requests for information on specific cards that have been declined and requests for information on a set of cards due for their next billing installment.

Basic Retry Logic

Basic Retry Logic involves the first two (2) renewal authorizations 2Checkout makes to recover expired subscriptions for which the renewal process failed.

2Recover Add-on 

The 2Recover add-on is available on-demand as part of the 2Recover add-on. Contact 2Checkout directly for more information. 2Recover add-on includes the basic revenue recovery tools plus: 

• 2Checkout Updater
• Advanced Retry Logic
• Hard Declines Notifications
• Advanced Authorization Report (new acquisition, auto-renewal, manual renewal) 

2Checkout Updater

2Checkout Updater is a key customer retention tool designed to support seamless updates of credit/debit card account information. 

Advanced retry logic

Advanced Retry Logic involves multiple renewal authorizations 2Checkout makes beyond those of Basic Retry Logic.

Hard Declines Notifications

Read more about hard decline notifications here.

Advanced Authorization  Report 

The advanced authorization report section in your Merchant Control Panel includes dedicated sections for each of the extra features in the 2Recover add-on, as well as the ability to display the report for new acquisitions and manual renewals. 

Self-service

Requirements

1. To request the activation of the 2Recover add-on, your account must meet the following criteria:

• Less than 1% chargeback rate over the last 3 months
• Have at least 10 active auto-renewing subscriptions
• Use a 2Sell, 2Subscribe, 2Monetize 2Checkout account

2. If your account meets the requirements above, you can click on Activate Advanced Options in your Merchant Control Panel.

3. Next, you'll be prompted with a message informing you that we will activate the module for your account in 48 hours.

4. As soon as we activate the module, you will receive an email notifying you about the activation.

2Recover Add-on Fees and Revenue

2Recover Add-on Incurred Fees

Commission (net amount, does not include taxes) for the recurring payments 2Checkout recovered when renewing subscriptions using the 2Recover add-on. 2Checkout does not charge fees for basic recovery tools. To calculate the recovered revenue fee, generate the report using the Attempt date selector.

2Checkout keeps the 2Recover add-on fees even in the eventuality of chargebacks or refunds.

Total Earnings from the 2Recover Add-on

Total recurring charges successfully recovered using the 2Recover add-on, reported according to authorization dates, when the 2Checkout system collects funds from your customers.

Invoice for 2recover add-on fees

2Checkout issues an invoice for the advanced recovery fees at the end of each month.