Donor payment account information changes for many reasons: card expirations, lost or stolen cards, and when credit card issuers buy and sell their portfolios of accounts. When that happens, your limited staff can spend hours tracking down donors and updating accounts manually. It also creates a risk of losing donations entirely.
DonorPerfect’s new service, Account Updater, is a simple, cost-effective solution for managing and maintaining up-to-date donor credit card account information. It can pinpoint when your donors’ Visa, MasterCard, or Discover account information changes and update it automatically – before you lose out on donations. In fact, nonprofits who use DonorPerfect’s Account Updater have seen as much as a 31% increase in successful monthly giving collection.
How Does It Work?
The SafeSave Gateway securely accesses information from Visa, Mastercard and Discover* to update your donor’s vaulted card information once each month. These updates are automatically reflected in your DonorPerfect System on the following day.
Once processed, you’ll receive an Account Updater Email Notification Report describing which records have been updated and what about the record was updated (e.g., updated card number, expiration date, etc.). You should review this report for account updates and if desired, verify them on the Donor’s Account tab. Once you have current account information in DonorPerfect, navigate to Monthly Giving and process any previously attempted failed transactions with the updated accounts.
Sounds Perfect! How Do I Sign Up?
Are you ready to save time, and process more recurring gifts without any extra administrative work? Don’t wait until you lose another donor. Visit this form to sign up. Simply enter the contact information for who should receive the Account Updater Email Notification report, and you’ll be ready to go!
The Account Updater service is for clients that already use our payment processing services. If you aren’t sure if you use payment processing and want to sign up or just have question, please email us at firstname.lastname@example.org.
*Note: Approximately 85% of U.S. issued credit cards are eligible for Account Updater. American Express credit cards are not included in this service. For our Canadian clients, Account Updater will be available by June 2017.
The post The Easiest Way to Get a 31% Increase in Monthly Giving Collections. appeared first on DonorPerfect.