Starting October 15, 2023, users on custom pricing will be charged a fee for each card update, in line with our current pricing. Please refer to the following details to understand how these changes may impact your business.
Card account updater automatically updates card details when cards expire or are updated, so your customers don’t need to re-enter anything. Card account updater has been a paid product since it was introduced, and starting October 15, businesses on custom pricing using card account updater will be charged for each card update, in line with our current pricing.
Learn more about card account updater, which increases revenue by 0.7% on average.
Our fees for card account updater are not changing; users on custom pricing using card account updater will be charged in line with current pricing starting October 15, 2023.
Some early users were benefiting from waived pricing for card account updater. This waived pricing period is ending, effective October 15, 2023, in line with our current pricing policy. If you were part of a group of users with waived pricing for card account updater, you would have received an email.
Card account updater has two main benefits:
You can view the increase in acceptance rates from card account updater in your Dashboard.
We estimate that, on average, businesses using card account updater realize 0.7% in incremental revenue from higher acceptance rates. Based on the benefits, we recommend that most businesses keep card account updater turned on. However, if you prefer, you can turn it off in your payment acceptance settings.
Yes, most businesses benefit from using both network tokens and card account updater, so we recommend keeping them enabled to maximize acceptance rates. Many factors affect payment acceptance rates across issuers, including whether the attempted charge is made using a network token or a primary account number (PAN). To maximize approval rates, Stripe maintains a secure vault of PANs and intelligently selects whether to use a network token or a PAN for a given transaction. When a PAN is used, card account updater automatically retrieves the latest card information for any expired or reissued cards. In this way, network tokens and card account updater work together to protect billions of dollars in revenue for businesses and ensure a seamless experience for customers. In addition, having card account updater turned on helps improve tokenization rates, since network tokens can’t be provisioned using outdated PANs.
No action is necessary from you. These changes will automatically apply to your business on October 15, 2023.
This support page provides more details on the notice we sent you describing changes to certain fees. That is a legal notice sent to Stripe users, even those who have unsubscribed from optional marketing notices. You cannot unsubscribe from legal notices, but if you prefer not to receive any further legal notices from Stripe, you can close your account by following these steps.
Your continued use of Stripe services after October 15, 2023 is subject to these fee changes. Any termination rights you have under your agreement with us are unaffected by this change.