What is Failed Payment Retry Configuration?

Businesses can now set up automatic payment retries for subscriptions in the event of a payment failure, thanks to the latest update. This new feature enhances flexibility in handling failed payments and helps maintain a seamless subscription renewal experience.

Key Benefits of Failed Payment Retry Configuration

Configuring failed payment retries provides several advantages:

• Customizable Retry Attempts – Define up to 3 retries based on business needs, with configurable gaps of 1, 3, 5, or 7 days between each retry.
• Default Retry Setup – By default, the system is configured to attempt 3 retries with a gap of 1 day each, but this can be modified as needed.
• Impact on Existing and New Subscriptions – Changes in retry settings will apply to both new and existing subscriptions, ensuring uniformity across all transactions.
• Subscription Handling on Failure – If all retries fail, users have the option to either keep the subscription in an ‘Unpaid’ state or automatically move it to a ‘Cancelled’ state by selecting a checkbox in the settings.

How to Configure Failed Payment Retries

Configuring payment retries is simple and can be done in a few steps:

1. Navigate to Subscription Settings – Go to Payments > Settings > Subscription in your account.
2. Define Retry Attempts – Select the number of retries (up to 3) based on your business requirements.
   
3. Set Retry Gaps – Choose the gap duration between retries (1, 3, 5, or 7 days).
   
4. Modify Existing Configurations – Any changes to retry settings will be applied to both new and ongoing subscription retries.
5. Manage Subscription Status on Final Failure – Enable or disable the option to move failed subscriptions to the ‘Cancelled’ state automatically.
   
6. Save Settings – Once configured, save your settings to apply changes immediately.

Example Scenario

If a subscription is initially configured for “three retry attempts, each spaced three days apart,” and one retry has already been made, but before the second attempt, the settings are modified to “two retries with intervals of three and five days,” then:

• The second retry will occur after 5 days instead of 3.
• No third retry will take place.

Supported Payment Providers

This feature is available for the following payment providers:

• NMI
• Authorize.net
• Square
  
  

Frequently Asked Questions

Q: How many retries can I configure for a failed payment?
A: You can configure up to 3 retries, with gaps of 1, 3, 5, or 7 days between each retry.

Q: Will changes in retry settings apply to existing subscriptions?
A: Yes, changes will be applied to both new and ongoing subscriptions, including those already in the retry process.

Q: What happens if all retries fail?
A: You can choose to either keep the subscription in the ‘Unpaid’ state or automatically move it to the ‘Cancelled’ state by selecting the appropriate option in settings.

Q: Where can I configure failed payment retries?
A: Navigate to Payments > Settings > Subscription to access the retry configuration options.

Q: Which payment providers support this feature?
A: Currently, this feature is supported by NMI, Authorize.net, and Square.