At this point, there is no question that automatic billing is a way of life. According to a survey by MasterCard. two-thirds of U.S. customers pay at least one of their recurring bills automatically through credit, debit, or banking accounts, and most people are open to paying more bills in this fashion.

People of all walks of life rely on EFT to take care of their expenses, and most salons have acknowledged that by offering discounts for memberships that utilize automatic payments. For salons, this has the added benefit of regulating revenue between seasons and and reducing the amount of buying decisions a client has to make.

Unfortunately, it takes more than a swipe and a signed contract to make an EFT program successful. Declined cards are an inevitability that contribute to a loss of valuable money and time. Unfortunately, recent data breaches at major stores like Target and Home Depot have resulted in millions of reissued credit and debit cards, and many more declined credit cards in tanning businesses.

How your business handles a failed EFT transaction can make a big difference in the lifetime value and satisfaction of your customers — not to mention the difference it can make in how much money you’re actually able to recover. Try some of the tips below to maximize recovered declines while keeping your customers happy:

Click here to read the entire article in the latest issue of Smart Tan Magazine online.