PROMOTED CONTENT ☛ WEB VERSION: Click Here TJC case study:
Recuperating failed recurring payment transactions with Paysafe and Vindicia
TJC (formerly The Jewellery Channel) has partnered with payments platform Paysafe and subscription management provider Vindicia to stay connected with subscribers by recovering 35 per cent of failed recurring payment transactions
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n the late-1980s, television was the premier at-home shopping experience choice
for consumers and growth has remained strong. The UK teleshopping market was estimated to have reached $ 2.14 Billion in 2018, as a result of the increasing number of dedicated channels, availability of alternate order options, and expansion of product catalogs. Television shopping continues to thrive today, despite the development of at-home competitors such as eCommerce and mCommerce platforms. But the introduction of new dynamic online shopping experiences has meant that online shopping channels have needed to adapt their own user experience to keep up with modern eCommerce best practice. Some of these experience upgrades have included platform diversification to a multi-channel experience and overhauling the checkout process to include alternative, f lexible payment methods.
The process and the problem An example of a shopping channel that has retained a strong customer base is TJC (formerly The Jewellery Channel). TJC offers customers that buy jewellery and other products online or over the phone the option of setting up
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a flexible payment plan when they make a purchase. TJC offers the option of 2-7 month recurring monthly payments to the consumers.
However, offering consumers the option of purchasing via a recurring payments plan comes with its own set of challenges. This includes the possibility for payments to fail once the recurring transaction plan has been set up and the products have been shipped to the customer. For TJC, it was a business-critical issue that this potential hindrance didn’t disrupt its ability to offer recurring payments. TJC turned to payments platform Paysafe and subscription management provider Vindicia, an Amdocs company, to prevent this from happening.
There are a number of reasons why a payment may fail that are recoverable. For example, a customer’s recurring transaction causes them to exceed a credit card limit, a card used to set up a recurring transaction is blocked by the issuer due to suspected fraudulent activity, or the card used to set up the recurring payment has subsequently expired. Being able to identify why the transaction has failed is essential to the
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