Account Updater automatically updates expired or renewed customer card information, helping merchants keep payment data current without manual intervention. This service minimizes disruptions caused by outdated payment information.

For example, when a card's expiration date changes, Stax Account Updater will update the payment method in our system. The event and update are relayed in our Payment Method API to include what was changed, why, and the date.

Note: Updates cannot be performed if accounts/cards are closed due to fraud or customer action.

Why is Account Updater Valuable?

Outdated payment information often results in declined transactions, requiring customers to update their cards manually. This process can lead to:

• Customer Churn: Customers may abandon services if updating payment details becomes inconvenient.
• Dunning Costs: Billing teams must invest time and resources in contacting customers to update payment details.

Account Updater Benefits:

• Enables seamless service continuation for customers.
• Reduces workload for billing clerks.
• Improves revenue retention for subscription services and recurring payment merchants.

How Does Account Updater Work?

• Verification Frequency: Account Updater runs bi-monthly (15th and 30th).
• Update Process: When card issuers provide updated information (e.g., new expiration dates), Stax automatically updates the payment method. This information is reflected in the Payment Method API, detailing:
  • Changes made.
  • Reasons for the updates.
  • Dates of the changes.

Important: Some issuing banks may restrict updates, meaning these cards cannot be updated.

Account Updater Integration

• API and Webhook Access: Merchants can utilize our Account Updater API and Webhook to monitor and trace updates. These tools provide insights into:
  • When Account Updater ran.
  • Details of updates made.
  • Fee attribution for the service.

Enrollment and Support

To enable Account Updater for your business, contact support for plan details and enrollment options.

Note: Service availability and specific features may vary depending on your plan and issuing bank policies.