California payments processing firm CyberSource has launched a Recurring Billing Service which allows online merchants to charge customers' accounts on pre-defined times.
The service includes the vendor's TotalCollect payment technology which automatically initiate actions to re-capture failed payments that occur due to problems associated with expiration dates and authorisation failures.
CyberSource says that, left unmanaged, up to 10% of a merchant's annual subscription base can be affected by this problem. The system flags transactions as 'recurring' to ensure merchants receive the best possible processing rate.
The service supports card payments in multiple currencies. CyberSource also stores cardholder data, eliminating the need for merchants to implement separate systems to manage and store customer data.
The Recurring Billing Service is being introduced as an integrated component of the vendor's new Enterprise Business Centre, a Web-based system featuring transaction search and reporting screens, user administration and account configuration tools.