Paywizard is upgrading Paywizard Agile, its back office subscription, billing and CRM platform. The upgrade is based on Paywizard's strategy to address subscriber "Decision Moments": Find, Join, Consume, Upgrade, Downgrade, Bill, Leave and Win Back.
Bhavesh Vaghela, Paywizard CMO, said: "Monetizing your content and service is much more than just collecting payment. In our experience, proactivity during the billing process can go a long way to reducing churn. Expired credit cards for example, can cause the loss of up to a third of a TV operator's customer base. The key here is for operators to understand the different reasons why subscribers are falling through the cracks and counter that with a better and more proactive consumer experience."
The company says the upgrade is a response to churn caused by payment failures and errors. It's intended to improve monitoring of consumer billing data so that operators can take a more proactive and personalized approach to managing subscriber engagement.
Upgrades include:
- Enhanced monitoring of customer billing
- "Freemium" payment capability
- A Setup Payment Method function to let users configure the necessary payment gateways, either using out of the box options (Global Iris, PayPal and Worldpay) or by configuring their own PSP
- The capability to automatically create and send receipts for a customer's subscription