IN BRIEF
The Automatic Card Updater is a feature that keeps stored credit card information up to date by automatically updating expired or replaced cards. This helps reduce failed payments, improves billing success rates, and minimizes the need for manual follow-up with customers.
Overview
Automatic Card Updater is a feature that automatically updates saved credit card information on file for cards that are expired or replaced with new card numbers. This ensures that you always have up-to-date details for credit cards on file. This is primarily useful for merchants that engage in recurring billing.
If you engage in this type of billing, it is inevitable that you receive some percentage of authorization failures each billing period due to changed account information. Normally, someone in your organization would then contact the cardholder to obtain updated information and re-submit the transaction. This ties up your resources, causes additional expenses, and runs the risk of the cardholder ending the service.
Important Notes:
- This feature is currently available to U.S. merchants only.
- This document applies only to customers using iClassPro Payment Services.
Accessing the Feature
The Automatic Card Updater is not a feature that is manually accessed within the system. It operates automatically once enabled for your account.
To learn more about enabling this feature or to request access, visit the iClassPro Payments page: https://payments.iclasspro.com/automatic-card-updater
Step-by-Step Functionality
The Automatic Card Updater works behind the scenes and does not require manual interaction. The process follows a consistent monthly cycle:
- The system checks for updated card information from card networks once per month.
- The update process is initiated on the 25th of each month.
- Updated card data is applied around the 1st of the following month.
- Only cards with payment activity within the last two years are eligible for updates.
- Each time card information is updated, an email is sent listing every update.
How This Helps Your Business
Using the Automatic Card Updater provides several operational and financial benefits:
- Increase revenue by improving approval rates and reducing declined transactions
- Decrease risk of customer cancellations due to failed payments
- Reduce time and labor spent manually updating customer payment information
- Improve customer experience and satisfaction
Reporting
The Account Updater Report (FIN-22) allows you to review all updates made by the Automatic Card Updater.
This report can be run at any time and provides a list of families whose stored payment information has been automatically updated within a specified date range.
Report Includes
- Family Name
- Last four digits of the card
- Expiration month and year
- Last updated date
For more information, see What is the Account Updater Report (FIN-22)?
Troubleshooting & FAQs
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Do I need to manually update cards when this feature is enabled?
- No. The Automatic Card Updater works automatically in the background and updates eligible cards without manual intervention.
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Will all cards be updated automatically?
- Only cards with payment activity within the last two years are eligible for automatic updates.
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When are updates applied?
- The system checks for updates on the 25th of each month and applies updates around the 1st of the following month.
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How will I know if a card was updated?
- An email notification is sent each time updates occur, listing all updated cards.
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Can I view a history of updates?
- Yes. Use the Account Updater Report (FIN-22) to view updates within a selected date range.