This is for a situation where one of your members misses a payment using Stripe.
You'll get a notification, and if you've enabled this setting in your Stripe account, then Stripe will prompt the member to update their Billing Details so they can complete the payment.
Depending on when the member updates their details, you might continue to receive Failed Payment notifications after the member has resolved the issue. This is just due to Stripe's automatic payment collection schedule, so here is what you can do to resolve the issue manually before the next payment attempt is scheduled:
Go into your Stripe account and view the invoice that is in 'retrying' status.
2. You will have the option at the top of the invoice to 'retry charge'.
3. Assuming that manual attempt to process the payment is successful, the 'failing status' will be removed from their subscription/payment plan in Stripe.
As a result, you'll stop receiving the notifications from MV -- everybody wins!
What happens if you don't try to manually process the outstanding payment?
In this case, the payment will show as failing in both Stripe & MV until the next rebill attempt is made by Stripe.
This will happen automatically, according to the rebill schedule in your Stripe account. Stripe attempts to process a payment 4 times over a 2 week grace period before canceling the subscription after a fourth unsuccessful attempt.
You might receive more email notifications from us this way, but you won't need to take any further action unless the payment collection is unsuccessful and cancels your members' subscription.
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Questions? Reach out to us at hello@membervault.co, within our Facebook group, The MV Collaborative, or via chat support within your admin account (not sure how to log in? look up your account here).