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Irvine, CA, United States, 2014/07/15 - Update XP seamlessly and automatically updates card-on-file account information in a secure environment, increasing revenue and customer retention - MeritusPayment.com. LSE AIM: OPAY
Meritus Payment Solutions, a leader in global payment solutions, today announces the launch of their account updater solution, Update XP. Meritus’ PCI compliant global payment platform, Payment XP, has partnered with major credit card companies to electronically exchange up-to-date card account information. This enables recurring and subscription-based merchants to automatically maintain an accurate and current customer database.
“For businesses who process recurring-based transactions, keeping up to date card information can be especially challenging”, says Alan Kleinman, Principal of Meritus Payment Solutions. “According to MasterCard, 30 percent of all recurring transactions typically decline due to expired card information or account changes.” Kleinman states,“Update XP allows merchants to access and recover revenue that would typically decline, empowering them to maximize their sales.”
Update XP minimizes the costs associated with manually update payment data, while providing a seamless and transparent payment experience for both the merchant and their customers. Update XP also works in conjunction with Meritus’ tokenized platform to ensure an encrypted and secure environment, eliminating concern of data vulnerability.
You can integrate Update XP through Meritus’ global payment platform, Payment XP
About Meritus Payment Solutions
Meritus Payment Solutions (merituspayment.com) is the trusted global payments partner. With a client-first mentality, Meritus provides Global Payment Solutions that include mobile, credit and debit cards, gift and loyalty cards, fraud management, Automated Clearing House (ACH) and more. Proprietary products such as payment platform, Payment XP, Recurring Billing Manager, Fraud XP and Chargeback Management System, allow companies to conduct business wherever it takes them. Built on a foundation of excellence, Meritus strives to shape the payment processing industry.