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Nexio Launches Decline Recovery to Reduce Involuntary Churn
Share Article OREM, Utah (PRWEB) December 20, 2020 Nexio, a payment platform, is pleased to announce an additional Decline Recovery technology is now available to merchants. This feature is particularly useful for merchants who have subscription services or monthly billing. On average, 15%-30% of recurring credit card payments are declined, with some industries exceeding 30% decline rates. Decline Recovery allows soft decline transactions to be retried and put into a queue.
Nexio uses AI-Driven machine learning to figure out the best time, transit, and testing process to handle the soft decline transactions. First, our system analyzes the merchant’s transactions to determine unique patterns. Then we run those patterns through the machine learning models to discover the best way to get increased approvals.