Archives for October 2013

Visa Account Updater & MasterCard’s Automatic Billing Updater

Visa and MasterCard recently released similar products: Visa’s Account Updater (VAU) and MasterCard’s Automatic Billing Updater. These products enable the electronic exchange of updated account information among participating merchants, acquirers and Visa/MasterCard card issuers.

By automatically maintaining the accuracy of customer account data, these products prevent disruptions due to account changes. They extend the life of online and offline automatic payment arrangements by helping to secure these ongoing, revenue-generating relationships, all while helping to lock in revenue, reducing processing costs, maintaining service continuity, and strengthening cardholder satisfaction.

Merchant Benefits

• Simplifies and secures account-on-file transactions

• Increases authorization approvals

• Helps increase sales and retain customers

• Reduces the costs associated with contacting customers to obtain updated information

• Cuts customer service expenses by preventing interruption of payment relationship

• Reduces opportunity for service cancellation

Cardholder Benefits

• Offers a seamless account update process

• Provides uninterrupted service from participating merchants

• Reduces negative experiences caused by declines

 

Visa Account Updater

BCMS Check 180

 

MasterCard Automatic Billing Updater

BCMS Check 180

Read more about the Visa Account Updater and the MasterCard Automatic Billing Updater to learn how they work.

For additional details and how you can enroll, please contact BCMS at (877) 861-8008.