TC CardCurrent™ eases the challenges of maintaining current customer payment card data when processing recurring and installment transactions.
SANTA ANA, California, November 1, 2016 — TrustCommerce®, known for its leadership in providing secure payment processing solutions, is pleased to announce the availability of TC CardCurrent™. An account updating product, TC CardCurrent helps merchants keep accurate customer payment card data on file when accepting repeat, recurring, and installment payments. For merchants who tokenize their clients’ card information for future transactions, whether it be repeat business, recurring or installment payments, this should result in fewer declines when customers’ card information changes due to theft, loss, or expiration.
Contacting customers whose credit or debit cards have expired or declined can be time consuming for staff. Oftentimes, it results in lost business because a customer will close their account or consider alternatives rather than update their information. At a minimum, it can cause a payment delay. TC CardCurrent solves these challenges by updating payment card information behind-the-scenes, without the need to contact customers. In addition, it increases customer convenience by eliminating the need for a customer to contact merchants regarding failed transactions due to outdated information. Further, with the increase in cyber threats and stolen card data, cardholders are issued replacement cards more frequently. Using TC CardCurrent, these changes will not impact your business or your customer, increasing retention and sales.
“TC CardCurrent is a solid solution for further addressing the advanced needs of recurring billing merchants while securing revenue and allowing customers a more continuous relationship with our valued merchants,” said Rob Caulfield, Chief Executive Officer of TrustCommerce.
TC CardCurrent is easy to set up and use. Here is how it works: The solution allows businesses to refresh stored cardholder data proactively by receiving updates to card-on-file account data. Regardless of when the billing cycle takes place, card numbers and expiration dates will be current. This enables charges to go through seamlessly even after a card has expired or is lost or stolen. Up-to-date billing information will be provided monthly. Overall reduced costs, fewer declines, happier and loyal customers are a few of the benefits.
TC CardCurrent is a perfect complement to TC Citadel®, which provides businesses the ability to safely and securely process payments without the need to store cardholder payment information. Merchants exchange payment card information for TrustCommerce issued Billing IDs. BillingIDs are tokens that are not based on the Primary Account Number (PAN) data, cannot be reversed engineered and can be stored in plain text. TC Citadel can accommodate the following payment types:
- Recurring: Automated charges at regular intervals.
- Installment: Automated installments, charged at regular intervals, for some period or against some balance.
- Deferred: Automated charge at some date in the future.
- Repeat Business: Store cardholder data for those regular clients that do business with you.