Why are payment retries necessary?
Posted: Sun Apr 20, 2025 8:16 am
Retrying is necessary to avoid lost sales and combat defaulting customers, which boosts profitability. But it is also essential to optimize sales team time and improve the customer experience, as a quick fix for reversible failures.
How do payment retries work?
So that you understand how retries work, we will explain the main elements involved in the transaction.
Checkout: where the customer starts the process by providing payment russia mobile database during the online purchase, after selecting the desired products or services.
Sub-acquirer: Acts as an intermediary between the acquirer and sellers, helping with payment acceptance, often providing customized solutions.
Acquirer: Facilitates the connection between the seller and the payment system, authorizing and processing transactions, ensuring the transfer of funds to the seller.
Brand: Represents the brand associated with the payment method (such as Visa, MasterCard), establishes the rules of the system and facilitates communication between banks, acquirers and sub-acquirers.
Bank: Issues and manages payment methods, performs fund verification and acts in the financial settlement of transactions between acquirers and merchants.
How do payment retries work?
So that you understand how retries work, we will explain the main elements involved in the transaction.
Checkout: where the customer starts the process by providing payment russia mobile database during the online purchase, after selecting the desired products or services.
Sub-acquirer: Acts as an intermediary between the acquirer and sellers, helping with payment acceptance, often providing customized solutions.
Acquirer: Facilitates the connection between the seller and the payment system, authorizing and processing transactions, ensuring the transfer of funds to the seller.
Brand: Represents the brand associated with the payment method (such as Visa, MasterCard), establishes the rules of the system and facilitates communication between banks, acquirers and sub-acquirers.
Bank: Issues and manages payment methods, performs fund verification and acts in the financial settlement of transactions between acquirers and merchants.