Tackling SaaS Failed Payments: A Comprehensive Guide

The article discusses the causes and solutions for minimizing SaaS failed payments, which can lead to involuntary customer churn. Common reasons behind payment failures include expired cards, insufficient funds, network errors, and processor or gateway issues. To prevent these, strategies like sending pre-dunning emails, using in-app notifications, offering multiple payment methods, and tagging transactions as recurring can be employed. When payments fail, distinguishing between soft and hard declines helps determine the appropriate action—retrying payments or reaching out to customers for updates. Togai's software, with its dunning management system, streamlines this process, reducing errors and preserving transaction integrity. In case prevention and recovery efforts fail, a systematic approach involving payment gateway checks and customer communication is necessary. Tools like Togai's revenue recovery suite are crucial for retaining customers and securing the financial health of SaaS businesses in today's uncertain global landscape.