Card Dynamics connects banks and merchants to enhance user experiences in the subscription economy by enabling customers to register and update payment credentials seamlessly. This platform addresses the challenge of maintaining accurate payment information for recurring transactions, ensuring uninterrupted service for both consumers and businesses.
Funding
$13.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BSFounders
Product
Problem
In the subscription economy, maintaining accurate payment information for recurring transactions is a significant challenge for both merchants and banks. Outdated or incorrect payment credentials lead to service interruptions, involuntary churn, and increased operational costs.
Solution
Card Dynamics provides a platform that connects banks and merchants to streamline the registration and updating of payment credentials for consumers. By establishing a direct link between financial institutions and subscription-based businesses, the platform ensures that payment information remains current and accurate. This connection enables seamless payment experiences, reduces disruptions in service, and enhances customer retention for merchants. The system supports customer-initiated registration at the merchant's interface using bank data, as well as bank-initiated registration, allowing banks to offer customers the ability to register for new services.
Target Audience
The primary target audience includes subscription-based businesses seeking to optimize customer acquisition and reduce churn, as well as banks looking to offer value-added services to their customers.
Features
- Secure registration process using customer's banking data
- Instant updating of payment methods when new cards are issued
- Bank-initiated registration for new services
- API for easy integration with existing systems
- "Pre-fill" functionality to minimize data entry and improve conversion rates
- Supports both merchant-initiated and bank-initiated registration processes
- Compliant with RGPD (General Data Protection Regulation)