Best Subscription / Recurring Billing Program
For the second time, FlexPay won the Best Subscription/Recurring Billing Solution category of the CNP Awards determined by an online vote of users. FlexPay’s Invisible Recovery platform solves one of the biggest pain points facing businesses with subscription and recurring billing models: failed credit card payments. By recovering failed payments, FlexPay’s solution increases revenue and customer LTV, and decreases customer churn.
FlexPay uses AI and machine learning trained on over 8 billion authorization records to create individualized failed payment recovery strategies for each declined payment. This solves for the hundreds of reasons a payment authorization request can be denied, and as it continues to learn, their system is constantly improving, adapting, and becoming even more effective.
In addition, their solution works behind the scenes, so customers never know there was a problem with their payment. This invisibility completely avoids the indirect churn created when subscription customers are made aware of the payment issue and avoids the negative customer experiences created when subscription businesses have to ask their customers to solve this problem.