In this topic:
Dunning Payment Retry
Users can now set the cadence and parameters for automatic payment retry, allowing you to more quickly process accounts and receive revenue after payment errors. Payment Retry schedules are executed via the Scheduler and can be configured based on the minimum failed payment amount, number of retries, and duration between retries. Schedules are also associated with Payment Retry Reason Code Groups, allowing quick and easy auditing of the errors behind failed payments.
Payment Retry Processor: a component used to automatically retry failed payments according to the Retry Schedule.
Payment Retry Updater: a component used to update the Retry Series with the information about the new payment created after the retry process.
Payment Processor: external payment service provider.
Payment Processor Reason Code: the Payment Processor specific code which indicates the reason why the payment was declined.
Generic Reason Code: used to organize Payment Processor Reason Codes into the logical groups. It is used to identify what payments should be retried according to the Retry Schedule.
Retry Schedule: specifies the number of retry attempts, the interval between two retries in a row, Generic Reason Codes, account category, and the minimum payment amount to be eligible for the retry.
Retry Series: a group of payments which includes the original payment and all following payments that were created after each retry attempt.
To use the Payment Retry functionality, make sure you have already set up Payment Gateway in Gotransverse user interface (UI 1.0) and created or retrieved the existing billing account for the payment retry evaluation.
To configure the Payment Retry process, follow these steps:
- Set up Generic Reason Codes.
- Set up Payment Processor with reason codes.
- Set up failure reason mappings.
- Create a Payment Retry Schedule.
- Retrieve job types.
- Create a Payment Retry Processor job.
- Create a Payment Retry Updater job.
- Run the job.