Spreedly Integrates Just-In-Time Card Updates for Visa Cards

Spreedly has enhanced its platform to include Just-In-Time Card Updates for Visa Cards supported by Visa Account Updater (VAU). This move aims to address the challenges of failed payments due to outdated card details, particularly in recurring billing and subscription models.

This development underscores Spreedly’s strategic partnership with Visa to accelerate innovations in the payment ecosystem. The companies previously collaborated in 2021 to promote network tokenization through Spreedly’s Payment Orchestration solution across Latin America.

Now, apart from integrating VAU for Just-In-Time Card Updates, Spreedly is expanding its support to include Visa Acceptance on key gateways such as CyberSource and Authorize.net. This expansion aims to provide merchants with greater reach and reliability.

Key Benefits of the Integration

Compared to traditional card update strategies that operate in batch mode, Just-In-Time Card Updates enable real-time access to updated card credentials during transactions. This feature provides merchants with enhanced control and responsiveness.

Spreedly, which leverages the Advanced Vault capabilities of the Open Payments Platform, uses Visa’s network to give merchants the tools they need for obtaining timely card updates on demand. These tools help businesses manage costs more effectively and ensure a seamless customer experience in subscription payments.

Specifically, some key benefits include:

• Higher authorisation rates by minimizing declines due to outdated credentials, thus recovering lost revenue.
• Improved operational efficiency through on-demand updates rather than continuous background processes.
• Increased customer retention by preventing service interruptions and enhancing loyalty with smoother transactions.
• Greater flexibility for merchants in timing and using card updates as needed.

Spreedly representatives highlighted their company’s commitment to providing the flexibility and capabilities necessary for optimal transaction management.