Payment recovery is all about managing failed payments and declined cards to reclaim lost revenue. In subscription businesses, handling these hiccups smoothly is key to keeping things running without stress.
Loop Subscriptions offers a powerful payment recovery feature built right into the app. Using smart predictive logic, it helps identify potential payment issues before they happen, significantly reducing failed subscriptions.
By automating this process, you can maintain steady cash flow and improve customer retention - all while cutting down on manual work and operational hassle.
Configuring retry settings
Follow these steps to complete the process
Navigate to Loop > Retain > Payment recovery.
This will open the Payment recovery section, where you can configure retry settings, reporting, alerts, and customer communication texts.
Here, you can set key options such as the number of retry attempts for failed payments, whether to notify customers during retries, and the action to take once all retries are exhausted.
Retry settings
In this setting, you configure how many times you want to retry a failed subscription payment. You can also set the number of days between each retry and choose whether or not to notify the customer during the process.
Configure these settings smartly based on your brand’s needs and your subscription frequency. To learn which settings work best for you, reach out to your Loop Success Manager or contact us at contact@loopwork.co.
Backup payments setup
Backup Payment Method is a smart way to recover failed payments by automatically retrying the charge on a secondary card if the primary one fails. This reduces churn and improves recovery rates without needing manual follow-ups. To learn how to enable this feature, how it works, and how both merchants and customers can manage backup cards, check out the article here:
Learn more: Backup payment method
Payment failure notifications
In this setting, you configure when to send the payment failure notification. You get two options here, one to send immediately when the payment fails, or you can select the time range window to send these notifications.
Action after all retries get failed
When all the retries are done: In this setting, you get permutations to choose what you want when a retry cycle is completed & x number of successive retry cycle is completed with payment failed. You get options to skip payment, pause the subscription, or cancel it.
Other settings and alerts
Hard declines behavior: In this setting, you configure retry based on hard decline reasons too & can decide what to do with that subscription. You can either pause the subscription or cancel it.
Future order schedule: Based on your retry settings, if any recurring order falls under the retry configuration of any failed payments, then you can reschedule the upcoming order using this setting. You get to choose the cut-off days from 2 days to infinite days based on your use case & frequency.
Pending payments handling: In this setting, you can handle pending payments that need customer confirmation to be processed. You configure here the days in which this pending payment will be marked as failed & will not be retired again.
To learn which settings work best for your brand & use case, you can get in touch with your Loop success manager or contact us at contact@loopwork.co.
Setting up reporting and alerts
Using this setting, you can send reports at the start of a week or month with a list of payments scheduled.
Customizing customer communication texts
This section lets you personalize the messages your customers see during the payment recovery process. You can update texts for payment method updates, errors, and confirmation prompts to match your brand’s voice and tone.
You can also customize button labels like Update card and place order, Update card, and Add card to make the experience smoother and clearer for your customers.
Personalized communication helps build trust and encourages customers to take timely action, improving payment recovery success.
Need help?
No worries - we're here for you!
If you have any questions or need assistance, feel free to email us at support@loopwork.co or chat with us using the support beacon at the bottom right of your screen.
Regards,
Loop Subscriptions Team 🙂