Designed for needs of businesses that invoice customers on a regular basis, CenPOS Recurring Billing Systems delivers a comprehensive solution of flexible billing and payment acceptance options. Statistics show that by the year 2020, more than 80% of software vendors will change their business model from traditional license and maintenance to subscription.
Enjoy an enterprise system that automatically manages declined transactions and cascades payments to other forms of payment to improve collection rates. Whether amounts are consistent or variable, installment or recurring, payments are collected on schedule and reminders are sent when payments are missed.
Integrated into the CenPOS Enterprise Suite, payments made in person, over the phone, or via your website automatically update, ensuring that customers aren’t double billed or needlessly burdened with reminders. All activities are tracked and business data is delivered in real time to help you make better business decisions.
All credit cards on file are managed at the payment gateway level for PCI Compliance and designated a ‘token,’ or an alpha-numeric character set that replaces sensitive card data. Businesses have access to the token, but not the sensitive cardholder data, after it’s stored. With token management, users can update the credit card expiration date manually. No other fields can be modified.
Per rules of card acceptance, the actual expiration date must be used. There have been recurring billing software solutions on the market that simply change the expiration date for recurring transactions with expired cards, for example by changing the date by one year. This enabled transactions to go through with an authorization in some cases because the expiration date was not validated by the issuer. However, for chargeback rights, the expiration date must be provided by the Cardholder and must be correct.
With CenPOS Account Updater, the card updater service automates updating cards for recurring billing, easily reserving chargeback rights and keeping customer data up to date. Visa and MasterCard, have a card updater solution to benefit those making the payments, and the merchants who receive them, and CenPOS is proud to have Account Refresher for American Express card users as well.