What is Account Updater?
Account Updater is a service from Authorize.net that automatically checks for and updates account numbers and expiration dates for cards on file with your Automated Recurring Billing (ARB) subscriptions and Customer Information Manager (CIM) profiles.
Do I need Account Updater?
If you accept monthly donations then the answer is definitely, yes! Using Account Updater can help you avoid interruptions to scheduled recurring payments and unnecessary declines resulting from cards with updated account numbers or expiration dates. It can also reduce staff time in reaching out to donors to obtain new card information as card information will be updated automatically without the need to contact donors.
What does it cost?
$0.25 per update.
You only pay per update. On average, 20-35% of cards update in the first month using Account Updater, with only 7-8% each month after. But in the long run, at only $0.25 per update, your savings should far outweigh the costs.
How to sign up for Account Updater
Signing up for Account Updater is easy. Simply log into the Authorize.net Merchant Interface and click Account Updater under the Tools section. Then follow the prompts from there!