When a payment card expires or is lost, it significantly impacts businesses relying on subscription payments linked to that card. Transactions will be declined, and if customers don’t actively update their new card details on your website, you risk losing them.

With a token - a secure, encrypted digital version of a payment card - subscriptions won’t be interrupted, even if the physical card no longer exists and has been replaced by a new one. At Clearhaus, card details will no longer be needed to request authorization from the bank - a token replaces them entirely. VISA and Mastercard have already mandated that all payments be tokenized, and other card issuers are expected to follow suit.

Key benefits

Tokenized payments offer a range of advantages throughout the payment ecosystem:

  • Enhanced security: This feature protects businesses, customers, banks, and us as the acquirer by eliminating the need to transmit card details between parties.
  • Seamless card updates: Charges can be processed immediately using the newly issued card without any action from the customer or the business.
  • Reduced card management challenges: Businesses will experience fewer issues with expired or lost cards, and automated transactions will no longer fail due to outdated card information.
  • Improved customer retention: Fewer subscription cancellations result in sustained revenue. Customer convenience: Manually entering card details for various subscriptions is time-consuming—customers demand more efficient solutions.

To ensure tokenized payments work flawlessly, we have tested this solution internally over six months with all customers using Quickpay subscription agreements. Our tests reveal a 5% improvement in successful transactions compared to previous methods.

No action required

You don’t need to do anything! We will implement this feature automatically for all subscription businesses.

Initially, this solution will be rolled out to all businesses offering subscriptions to their customers and using Clearhaus as the acquirer. Over time, we will expand the solution to support other acquirers within Quickpay and even one-time payments.