Many rely on medication refills on a predictable schedule, so pharmacies often maintain cards on file for these recurring transactions. While convenient, there’s a potential downside – declined payments resulting from lost, expired or outdated card information.
THE REAL COST OF DECLINED CARDS
For businesses keeping more than 100 cards on file, the average card decline rate is 7.33%
Among businesses using Decline Minimizer from OpenEdge, 68% report increased cash flow and 52% report better customer relations.
Decline Minimizer helps a business recover, on average, nearly $6,000 per month that otherwise would have been declined recurring transactions.
75% of businesses see at least some declined transactions never collected.
Download the Decline Minimizer PDF
Decline Minimizer from OpenEdge offers real benefits for the pharmacy accepting repeat and recurring payments.
OpenEdge, a division of Global Payments, operates through the following entities: OpenEdge Payments LLC is a registered ISO of Wells Fargo Bank, N.A., Concord, CA and a registered ISO of BMO Harris Bank N.A., Chicago, IL and a registered ISO/MSP of Synovus Bank, Columbus, GA. . PayPros LLC is a registered ISO of Wells Fargo Bank, N.A., Concord, CA.
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