Introduction to Success+
What is Success+ and what does it do?
GoCardless Success+ uses payment intelligence to manage and reduce payment failures. If Success+ is enabled, then when a payment fails because the payer had insufficient funds, GoCardless will automatically select a date to retry that payment. Success+ uses a machine learning model to intelligently select the best retry date among all available options. It does this based on:
- Our understanding of the payer’s history with your business
- Our understanding of the payer’s history with our global network of 80,000+ merchants
- Our understanding of the ideal payment timing in a given month (e.g. what dates are typically best)
- Our understanding of when payments are typically successful for businesses similar to yours
More than 20,000 businesses use Success+ and report the following benefits:
- Recover up to 70% of failed payments. Retrying payments with Success+ leads to 29% fewer payment failures than manually retrying them, because of GoCardless’ machine learning model
- 70% of businesses said Success+ improves their relationships with customers
- 89% of businesses said Success+ saves them time
All our customers must enable and configure Success+ via the GoCardless dashboard. There are five configuration options available:
- Choosing which currencies Success+ should be enabled for
- Choosing the length of the retry window. E.g. Only attempt payment retries for 4 weeks
- Choosing how many retry attempts Success+ should try (note: this is also impacted by the length of the retry window you select)
- Adding a delay that tells Success+ not to attempt retries for the first X days after the first payment attempt fails
- Enabling the failure filter, which prompts Success+ not to retry payments where the chance of failure is greater than 90%
You can find more information about enabling Success+ intelligent retries here.
Please note: Actual performance may vary depending on your specific attributes and the types of customers you have.
Success+ vs. Manual retries
Manual retries take time, rely on your team to act at the right moment, and often mean having difficult conversations with customers about missed payments. Success+ handles all of this automatically, retrying failed payments in the background, on the day the machine learning model determines it is most likely to succeed, with no manual effort required from you or your team