Payments platform company Adyen has provided merchants with real-time access to the Mastercard Account Updater service through integration with its direct API.
Adyen said that qualified merchants using its platform will now be able to enhance their revenue from card-on-file payments via automatic update of Mastercard accounts.
The direct connection, which can be activated instantly, also prevents card declines associated with account changes due to a variety of factors such as expiration dates or new replacement card numbers.
Adyen chief commercial officer Roelant Prins said: “Payments are a critical touchpoint for ensuring uninterrupted service for customers and sustained revenue for merchants.
“Adyen, together with Mastercard’s Account Updater, is focused on making the highest number of payments succeed by automatically updating card data at the point of transaction, preventing involuntary card declines due to expired or replaced cards.”
Mastercard executive vice-president of security and decision products Johan Gerber said: “Today’s consumers have their card information stored at multiple online stores and in the event the card gets replaced, it is an inconvenience to remember and update the card details at all the stores.
“As the first payments platform to use our Account Updater API, Adyen is giving merchants a powerful tool to provide a better, seamless consumer shopping experience by automatically updating the details.”