Automatic card updates
At Fundraise Up, the Card Account Updater feature from Stripe plays a crucial role in maintaining uninterrupted donor engagement. This feature automatically updates saved payment methods when the issuing bank replaces a physical card. It proves particularly beneficial when donors receive new cards due to reasons such as expiration or loss.
This automated update ensures that recurring donations continue without interruption, reducing the need for organizations to contact donors about card changes. It also enhances the donor experience by eliminating the need for manual card information updates.
Stripe charges a fee of 0.25 USD for each card update. Fundraise Up only updates cards linked to active recurring plans, ensuring cost-effectiveness by preventing charges for updates on cards linked to failed or canceled plans.
This feature complies with GDPR standards, ensuring secure and private handling of donor information. Cardholders authorize their issuing banks to provide updated card numbers to networks and major acquirers, preventing declines on recurring or stored credential charges. Most issuers require cardholders to consent to participation in the card account updater service as a condition of using the issuer's card.
For a detailed understanding of Stripe's Card Account Updater, including instructions on disabling the feature if required, please refer to Stripe's official documentation here.