Failed Payments
Hi guys, happy holidays!
I run a membership website, and I use Memberful & Stripe. I've been getting a lot of failed payments lately and was wondering if you guys had any tips/strategies on how to recover some of those failed payments?
I send a series of emails, and I recover about 30% of my failed payments, but I've been getting so many lately. I am losing too many subscribers. Usually the message I get from their account (when there is a failed payment) is "do not honor" but sometimes will get "insufficient funds" or "incorrect number".
It's part of the business. You can use service like ChurnBuster but if your client is not using your service or doesn't see value then they will not bother updating the card.
Also, it could be spammers testing fake or stolen cards.