Frequently Asked Questions
- How does it work?
- Any time one of your subscribers experiences a payment decline, our service will re-submit under your Merchant ID to your preferred Payment Processor. We’ll determine the eligibility of that failed payment transaction for our services.
- How does the data exchange process work?
- We need access to historical transaction data. You can export it to us, or simply share read-only access via API. We do not need or touch PII, and data is encrypted end to end in flight and at rest.
- How secure is your system, and what about data privacy?
- Our systems have passed multiple security audits by some of the most demanding customers in the industry. All data is encrypted end to end in flight and at rest, and any storage is SOC compliant. Our platform is also PCI compliant.
- From a data privacy perspective, we purposely do not need or access PII. If requested by our customers, we are happy to complete BPA forms and are familiar with CCPA and GDPR requirements. Accordingly, we can also remove any data upon request if needed once we have done our analysis.
- We have an internal team working on this, why would I work with Retain Capital?
- Retain Capital is in the unique position of being 100% focused on this accidental (involuntary) problem which means our platform is built uniquely leveraging insights across multiple banks, cards, geographies, and formats and can optimize for hundreds of different parameters that internal teams typically do not have access to. Retain Capital platform does not replace your billing system or internal efforts but is an additional service that is focused on a very specific element of churn.
- How much risk and effort would it be to add Retain Capital and is it worth it?
- There are a lot of things tied to a billing & payment platform. For systems where payment success triggers fulfillment processes, we work closely to ensure that Retain Capital rescues payments quietly and quickly in the background.
- We’ll work with you to develop the best window of time to run our service. A big part of Retain Capital’s value is fixing a valid failed payment without the need to notify your end users over email, SMS, or in-app.
- We do not have a retention-focused team, how do we work with Retain Capital?
- We have worked hard to ensure we deploy via pre-built integrations with your payment service provider (PSP). We essentially capture every failed payment and do the work to make sure the valid ones go through. We process in batch mode (not real-time) and we don’t touch your mission-critical transaction flow.
- Everyone claims 'no engineering' to use their product, how is Retain Capital different?
- Retain Capital has been developed from the beginning to be a turnkey outsourced solution that delivers revenue by recovering failed transactions without a need to invest resources or have dedicated teams. In many cases, we work solely with CFOs, CROs, or others on the finance or product teams to deliver impressive results simply by accessing your PSP. We will quantify revenue opportunities from analyzing your data, and then deliver those results with no other internal dedicated team support.
- We use a wide range of payment methods. Will this affect the results?
- Every month we add new PSPs or payment methods, so chances are whatever payment method you are using is on our roadmap, including 3DS options and international PSPs.
- How does support work and how does the revenue flow?
- After we receive and resubmit transactions, we'll have a certain number of successful captures to deposit in your acquiring bank account. We review performance daily to share exactly what the current baseline performance is, and the exact value the Retain Capital platform is delivering.
- In many cases, we help our customers increase their baseline performance by sharing insights on things they can do to improve things outside of our control. Retain Capital is also optimizing our AI and machine learning to get better and better and that shows up in the data, but more importantly, we release major new capabilities about once a quarter to help across the board and give early access to existing customers so they can benefit.
- How do I know if Retain Capital will work for our business?
- We perform a trial assessment of your failed transactions with no obligation. This way we’ll have an accurate assessment of what the percentages of recovered transactions would have been and the related revenue collected. Keep in mind that we revenue share so you don't pay anything unless we are successful in recovering declined transactions.
- Do I have to sign a contract and for how long?
- We sign a Non-Disclosure and you sign a Master Service Agreement contract which you would only need to give us 14 days' notice to terminate the agreement. Our agreement spells out all services and payment terms.
- What does Retain Capital need to know about the Merchant?
- 1. Annual Renewal Revenue
- 2. Merchant ID (MID) & Merchant Category Code (MCC)
- 3. Payment Processor
- 4. Initial Transaction Success
- 5. Retry Success
- 6. Final Transaction Success
- 7. Average Ticket Price
- 8. Yearly vs. Monthly Mix
- 9. Chargeback rate
- 10. Point of Contact for Legal, Business, IT, and Support
- Why did I receive an email regarding the company’s majority owners?
- In some territories, we are required to adhere to anti-money laundering (AML) regulations. This means that we will send you the Know Your Customer (KYC) form to collect information about your business as well as the majority owner(s) or high-level management roles within your business. We also perform an individual risk assessment of all retailers. In some cases, this might require further documentation.
- Can I change the details in my application, MID, EIN, and Legal Entity Name?
- No, you cannot change any contact details or other terms selected during the application process. If you would like to discuss any items of your agreement, reach out to our support.
- How do I get started with Retain Capital?
- You will receive an email with a list of questions about your company as a Partner or Direct Merchant. After that, you will have access to the merchant portal where you will get your Retain Capital API credentials and complete the integration in a few easy steps. Retain Capital REST API credentials are used for authentication purposes.