06 May 2009: Secure payments specialist The Logic Group is today announcing a complementary enhancement to its Secure Payments Service that will enable businesses to dramatically reduce their customer service costs by automatically keeping card data stored for recurring transactions up to date. Available from May 6th, the Account Updater Service (AUS) will provide relief to businesses concerned about the detrimental effects of failed transactions.
The Account Updater Service is designed to maintain card information and provide notification of payment cancellation requests removing the need for merchants to update cardholder information manually.
Recurring card transactions are used by any business with a requirement to process additional payments against card details that have already been obtained from a previous transaction. This presents a number of challenges, whilst complying with PCI DSS mandates.
“In today’s economic climate businesses can ill-afford the impact that failed transactions can have on the bottom line combined with the arduous task of renewing payment information,” comments Paul Russell, Solutions Marketing Manager, The Logic Group. “The potential costs to business are significant not least in terms of the negative effect on the customer experience. However by using the Secure Payments Service businesses can lessen the burden of PCI DSS compliance and scheme mandates whilst ensuring recurring transactions are processed appropriately.”
From a consumer perspective the system provides an efficient alternative to Direct Debit, allowing businesses that rely on recurring transactions to simply apply charges to the same card, and allows consumers to efficiently stop their recurring transactions or enable service continuity if their account information changes.
The AUS enhancement will be added to the existing Secure Payments Service. As a managed solution it negates the need for businesses to store or handle sensitive card data, helping organisations work towards PCI DSS compliance through the use of unique tokens that replace these details.
For more information about the Secure Payments Service and the AUS enhancement or to find out more about the challenges businesses face in managing payments securely and efficiently while aligning with PCI DSS compliance please contact Octopus or visit The Logic Group website www.the-logic-group-com