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Payment Profiles vs. Card Updater


Profiles card Updater Profiles card Updater Placehoder
3 min read

Both consumers and businesses desire a fast, streamlined checkout experience. The more seamless it is for consumers to checkout, the more likely it is for conversions to take place.

Say your client uses a recurring billing cycle to bill customers each month. If one of their users has expired or renewed payment details, it is a lot of manual work to track down that individual and update their account. And worse, what if they end up cancelling? This process is timely and can run the risk of losing hard-earned sales. That’s where Secure Payment Profiles and Card Updater come in.

What are Payment Profiles?

Secure Payment Profiles allow businesses to store credit card, banking, or contact details confidentially on Bambora’s PCI Level 1 server. These profiles are used to process transactions without the business needing to repeatedly pull up payment information. They are retrieved when a stored client performs a single or recurring payment.

Here's how it works:

  1. You create a profile, then we give you a customer code to pair with it.

  2. Using that code, we retrieve the payment details from our server when a payment is requested.

  3. The payment details are then automatically inputted into the designated consumer checkout fields. This works whether it’s for a one-time or recurring transaction.

  4. The payment is completed using the stored payment details.

And voila, the checkout process has been made that much easier.

To reduce PCI scope even further, Bambora’s payment profiles use tokenization as a way to keep sensitive info securely transferred. Tokenization is the process of replacing data with a unique numeric code that retains essential info without compromising security.

When a profile is created, a token is created in conjunction with the profile and can be used instead of actual credit card or banking details. Once a payment request is made, the token is passed to our servers to retrieve the payment details, so no sensitive info needs to be stored on the businesses side.

Tokenization is an incredible way to keep payment details secure, especially in the case of a security breach. If a breach occurs, there is no credit card or banking details to grab, just the token. With payment profiles, you get tighter security and easier checkouts. Just a few more things taken off your checklist.

What is a Card Updater?

Card Updater works its magic by communicating with the major credit card companies to receive account info regarding new or updated credit card details. When cardholders update their card, card issuers, such as Visa and Mastercard, send a message with the new card numbers and expiry dates to the payment processors that have this service. This all happens behind the scenes, so there’s no need to disturb consumers or your hard-working team.

Software providers should consider how Card Updater can improve their clients' decline rates, notably those that provide subscription services or recurring billing. Card Updater can bring your service to the next level, however, this feature is dependent on the payment processor.

Why do they both matter?

Every business runs into trouble with abandoned checkouts and missing cards - why not choose a product combination that addresses this and also reduces friction in the checkout process?

Providing both payment profiles and card updater can set software providers apart from the competition. Payment profiles reduce your PCI scope and encourage a streamlined, efficient checkout process for your clients. Card Updater is a proactive feature that solves the missing card issue before a business or consumer even notices.

Less time spent typing in details means more time to focus on the customer's experience. Contact our sales team to inquire about adding these features to your platform.