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the ecommerce minute: decline management

sticky.io

Updated:  

June 10, 2024

Episode four of The Ecommerce Minute: Quick Tips for Online Sellers explains decline management, including why payment declines happen and how to prevent them from affecting your bottom line.

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Episode 4: Decline Management

Today, we're going to be talking about decline management. Decline management is the process of handling and managing declined transactions. This can happen for a variety of reasons, such as insufficient funds, expired credit cards or suspected fraud.

A declined transaction can be a frustrating experience for customers, and it can result in lost revenue for many ecommerce businesses. That's why effective decline management is crucial. So, what can you do to manage your declines and salvage as many transactions as possible? Optimizing payment processing settings using fraud prevention tools.

Offering alternative payment methods and communicating with customers are both very effective strategies. By offering alternative payment methods such as PayPal, Apple Pay or even Google Pay, you can increase the chances of a transaction being completed successfully. And if a transaction still declines, using an automated retry system can increase the chances of the transaction being approved.

So remember, effective decline management is important for maintaining customer satisfaction, maximizing revenue, preventing fraud and ensuring compliance with industry regulations and standards. sticky.io is committed to helping you manage your business, including optimizing your dunning strategies with industry leading tools and data to back it up.

So, contact us anytime to learn more. Thanks for watching and stay tuned to the next episode of the Ecommerce Minute.

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