The payment solutions offered can be very useful when negotiating with defaulting customers. In addition to traditional payment methods, you can offer more flexible options, such as installment payments or digital wallets, for example.
How can recurring payments help combat default?
The recurring billing system is a great ally in reducing defaults. With this feature, you can automate billing, have a retry mechanism in case the first billing attempt fails, and program smart notifications to remind belgium mobile database customer of late payments, as well as possible problems with the chosen payment method.
This system is very common for paying for recurring products and services. However, even those who have a one-time payment system can consider migrating. This makes payment more flexible for the customer, who can pay in installments without using up their card limit. This convenience can prevent many cases of default.