Vindicia Helps Subscription Providers Keep a Bird in the Hand
Jun 19, 2012 | By Xconomy
Cloud commerce is here to stay.
The advent of subscription-billed digital delivery has brought massive, recurring revenues to the Publishing and Content industries, as well as makers of consumer and enterprise software. So if you asked software companies, media giants, and game publishers whether they’d prefer to go back to the days when they sold their wares on physical media in shrink-wrapped boxes, you’d get a resounding no.
But this new economy comes with its own headaches. One of the biggest is customer retention. Whenever a recurring subscription is tied to a credit card account, there’s a certain amount of falloff when renewal time comes around. Sometimes it’s because the customer has decided not to renew, but often it’s simply because the credit card number on their account has changed and the merchant doesn’t have the updated one. Or it could be because the credit limit on the customer’s card has been temporarily exceeded, so the charge is denied…