2023
Explore the updates and enhancements we made to our platform in 2023.
Added
PaymentsSwitching Credit Card Payment Providers in India
Due to the RBI directive on card payments in India from October 1, 2021, credit cards issued in India are no longer authorized, heavily impacting the success rate of recurring transactions. To mitigate this, we’re switching most transaction processing to a different payment provider with a higher success rate.
Why this is important: Switching payment providers could increase the number of successfully authorized credit card transactions, potentially resulting in additional revenue.
AnalyticsTrack Your Quote Scope
You can now apply the Third-Party Tracking Setup tool in Commerce Assistant to your quotes. This option is disabled by default. To enable quote scope tracking, contact Client Experience.
Why this is important: This new option allows you to track customer activity on quote pages, providing more insight into their behavior.
Added
PaymentsBank Account Consolidation for Customer Payments
We’re merging our bank accounts into a single account for all customer payments. We’re updating our customer-facing bank information (IBAN) for specific payment options, such as wire transfer and purchase orders.
Why this is important: Customers will receive updated payment instructions with new bank account details. No action is required on your part.
AnalyticsConvert Insight into Foresight with CleverInsights
CleverInsights, our latest analytics product, helps you conduct comprehensive subscription business analysis, forecast performance, detect anomalies, and benchmark KPIs against market competitors.
For more details, see CleverInsights. Access it via CleverInsights or contact Client Experience to activate.
Why this is important: CleverInsights turns data into actionable foresight, enabling better business decisions and identifying patterns.
AnalyticsReduce Your Churn Rate with Cohort Analysis
Churn cohort analysis is now available within Subscription Analytics. It allows grouping subscription items by sign-up date and analyzing performance over time.
For more details, see subscriptions.
Why this is important: Churn cohort analysis helps uncover seasonal trends, identify churn triggers, and optimize revenue retention strategies, ultimately improving customer lifetime value (CLV).
PaymentsNew Payment Mapping & Response Codes for PayPal
We’ve added PayPal-specific response codes to better diagnose and counteract declined transactions.
Why this is important: These improvements enhance PayPal approval rates, improve decline transparency, and uplift checkout completion rates for PayPal transactions.
PaymentsResponse Code Mapping Update
We updated our database to include the latest transaction response codes and harmonized them with existing codes.
Why this is important: This update reduces the category "Unknown" for credit card declines, improving our credit card success rate.
Added
AnalyticsGain Valuable Insights with Payment Analytics
We’ve introduced Payment Analytics in our web admin tool, allowing deeper analysis of payment data, tracking success rates, and evaluating authorization rates by credit card schemes.
To learn more, see Payments. You can access Payment Analytics at Payment Analytics Dashboard.
Why this is important: These insights help you better understand customer payment behavior and optimize payment strategies for growth.
ApplicationsIncentive Banners Feature Available in Web Admin Tool
Cleverbridge has introduced a new feature, Incentive Banners, allowing you to advertise special offers, build trust, and increase brand awareness.
To learn more, see Implement incentive banners. Access the feature via Incentive Banners.
Why this is important: This feature allows you to customize text-based banners for various purposes, from promoting cart items to building trust with customers.
Added
PaymentsNew Issuing Bank for Payment Method iDEAL
A new issuing bank, Yoursafe, will soon be activated by iDEAL. Customers in the Netherlands will be able to select Yoursafe as a payment method.
Why this is important: No action is required on your part. This update allows customers to securely execute payments through Yoursafe.