In this chapter you’ll learn:
Of course there are good reasons to decline a transaction, like insufficient funds or suspected fraud. But often the card is declined because there was a temporary outage somewhere in the network, or the issuing bank’s interpretation of the payment request was different to the acquirer’s.
The key lies in understanding why the card was declined in the first place. If you have this information, you’ll know if the decline is valid and if not, be able to take action.
The acquirer is usually another 3rd party provider in the payment process. But, in Adyen’s case, acquiring is built into our platform and we pass the information from the issuing bank directly to our customers. So you can see which card payments were unsuccessful and why.
Here’s an example.
An Italian issuer was declining recurring transactions outright because no CVV was submitted. Once we knew this, we submitted the payment with the CVV field included (even though it was left blank). After that the issuer started to approve transactions.
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You don’t have to be a payment whiz to turn declined card payments into approvals. And you don’t have to spend time worrying about fluctuating interchange fees. We’ll do it for you.
Our smart data tools are designed to detect downtime and spot irregularities in banking systems. We then use this information to adjust payment requests in real time, maximizing the chance of an approval.
We’ll keep you informed about any changes to interchange rates that will affect you, and our dedicated team monitors rates and regulations to ensure you get the best deal. Plus, our local acquiring licenses in key markets around the world give you access to lower domestic rates.