Quote:
Originally Posted by DannyCox
We were using WTS for credit card processing when they lost their merchant account. This was way back. We didn't lose anything...other than all the rebills! Based on our standard retention rates back then, we probably lost close to $60K in rebills. It also created a lot of work as we had to e-mail everyone and try to get them to rejoin using another processor. Of course, only a small percentage did rejoin.
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Yeah if you send out a letter saying " sorry but we will need you to sign back up again or your membership will expire on xxxxx " you probably get 9 replies saying " oh good, let it expire i had forgotten about it anyway" and 1 who actually went and did it. Asking people to sign back up kills your membership base. Ibill wouldn't hand over the information but I was able to get it from web800 back in 99 when they went out of business. The only thing that changed was the name displayed on the charge, other than that the customer didn't notice anything. Surprisenly enough i had less than 1% chargebacks... you would think more people would have charged back because they wouldn't recognize the name on their statement.