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Submit a Profile Maintenance ticket in CoPilot to request access to the Card Account Updater service
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The Partner Admin team will provide a partner addendum for you to sign
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Sign and return the addendum - Card Account Updater will be enabled and you will be notified in the ticket comments that you can begin selling the service
Overview
The Card Account Updater (CAU) service is a game changer for merchants that use the Virtual Terminal's recurring billing and/or store customer profiles in CardPointe. With this new offering, out-of-date debit/credit card information (card number, expiration date, etc.) is updated to avoid recurring payment interruptions by reducing the frequency of declines. The best part? Updates are done behind the scenes with no customer intervention.
Benefits
Card Account Updater reduces the number of declined or late payments resulting from outdated card information by automatically retrieving the new card details from Visa, Mastercard, and Discover when a new card is issued to your customers.
Card Account Updater is the perfect solution for merchants that offer auto-pay for recurring billing; It reduces the risk of late and declined payments for merchants and helps to prevent service disruptions for customers.
Using Card Account Updater to automatically retrieve new card data can help your business to:
- Stabilize and maintain cashflow by reducing late and declined payments
- Reduce involuntary churn caused by expired cards or new account numbers
- Reduce efforts and costs associated with merchant outreach due to outdated payment information
- Improve customer satisfaction by avoiding interruptions in products and services as a result of nonpayment
How It Works
Card Account Updater is an optional feature that must be enabled for your merchant account. Once enabled, all of your stored customer payment accounts are monitored on a continual basis to determine if the saved card data has become obsolete.
Some of the most common reasons that cause a customer's card data to become obsolete include:
- A new card is issued due to suspected or confirmed fraud
- A replacement card is issued with an updated expiration date
- The account transitions to a different class or tier of card that requires a change in account number
When the Card Account Updater service receives updated card information from Visa, Mastercard, or Discover, your stored customer payment information is automatically updated with the new details, and can be used for any individual payments made using the CardPointe Virtual Terminal, or used for any upcoming scheduled payments that are part of a billing plan.
You can view card updates in CardPointe, on the Reporting > Card Updates tab. The Updater History table displays detailed information on all card account updates that occurred within the past year. See the CardPointe Web App User's Guide for more information.
Pricing
Merchant Cost
- Monthly Fee: $10.00
- Per Update Fee: $0.40 (this value will default to $0.50 in CoPilot, but can be adjusted)
While these fees appear as default values in CoPilot, agents are free to adjust the merchant costs as they see fit.
Note: Agents are not allowed to charge merchants less than the agent costs listed below.
Agent Cost
- One-time Setup Fee: $250.00 billed through residuals the first time a card is updated
- Monthly Fee: $10.00 + 50% rev share above the buy rate
- Per Update Fee: $0.25 + 50% rev share above the buy rate
A 'Per Update Fee' is charged for each credit card that receives updated information from the card brands. If a card is checked for expired information but not updated, this fee will not be applied at the agent or merchant level.
Registration
Agent Registration
To become eligible to sell Card Account Updater, please follow the below steps:
Merchant Registration
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New Merchants via the Digital Application: Select the Account Updater add-on during the application process - merchants will sign off on the add-on via the digital application
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Existing Merchants or Paper Applicants: Submit a signed paper addendum in the Add-Ons section of the merchant's Account Details
CAU Status
View the Status field of the CardPointe Account Updater add-on within the merchant account, which displays one of the following:
