AffiniPay Continues to Innovate for Associations Market with Launch of Newest Feature: Account Updater
Austin, TX (August 5, 2021) — AffiniPay for Associations, the proven payment partner for association and nonprofit professionals, has added an Account Updater feature to their platform. According to the ASAE Foundation's Association Operating Ratio Report, an average of 45.4 percent of trade association revenue comes in during dues renewal season, and without an Account Updater, associations risk losing income. Account Updater prevents failed transactions on recurring payments, allowing associations to streamline and simplify their billing process.
The addition of Account Updater further streamlines billing processes as AffiniPay’s system routinely reviews cards stored in their secure vault of recurring payment profiles and updates the card data from the issuing bank automatically. Additional benefits of Account Updater include:
- Predictable cash flow: Keeps recurring revenue streams updated and active
- Time saving: Continuously monitors all saved and recurring payment profiles and updates data in the background
- No contact necessary: Eliminates the need to contact members for updated payment details
“Account Updater is a feature that came highly requested from our Association professionals,” said Janelle Benefield, AffiniPay for Associations Vice President. “Keeping payment profiles active and up-to-date without having to reach out to members and donors individually makes it a seamless way for our associations to get paid faster and easier. We added Account Updater to continue to evolve our platform for our customers.”
In the past 18 months, AffiniPay has launched the following features for Associations professionals:
- QR Code Payment Functionality
- Updated Mobile App
- Bluetooth Mobile Card Reader
“Our organization has been increasing our usage of auto-recurring billing and saved payments,” said Bob Nitekman, Director of Information Technology for Residential Real Estate Council and AffiniPay for Associations customer. “We are excited about Account Updater, since it should reduce the number of failed transactions using our saved payments. This will save time for our staff and will result in a better experience for our members.”
AffiniPay for Associations was specifically developed with associations and their members in mind, providing tools that make paying online simple, secure, and convenient. Today, their technology is trusted by more than 150,000 professionals and 10,000 associations, keeping payment data secure with advanced fraud protection and security that exceeds internet standards.
For more information about Account Updater, check out our blog.
About AffiniPay for Associations
AffiniPay for Associations, an AffiniPay solution, is an online payment technology developed specifically for associations and nonprofit organizations as a secure way to accept credit, debit and eCheck payments. AffiniPay is headquartered in Austin, Texas and offers a modern payment gateway that integrates with more than 30 software solutions and is trusted by more than 5,000 associations. Visit https://affinipayassociations.com/ to learn more.