New PR: $50k in insufficient fund failures 🥲
My team and I are running into a ton of payment failures. We started ramping up our marketing budget this year and now that things are picking up we are seeing a huge number of our payments fail.
50% of our payments failed in the last 2 weeks and 50% of those are insufficient funds. most failures happen at day 14 when our free trial ends. all payments are US-based and we have a travel heavy business so being far from your billing address is acceptable to us.
We pretty desperately need help but Stripe support has been pretty useless. Does anyone have any tips or thoughts on what we can do, specifically for insufficient funds?
here is what we’ve tried:
- smart retries & custom dunning emails
- trial ending reminder at day 7
here is what we are testing now:
- enable radar on setupIntents to validate cards at the trial start
- block prepaid cards
- block cvc failures at risk score > 10 (built in rule)
- block postal code failures at risk score > 40 (built in rule)
- attempt 3DS if elevated/high risk, or block entirely if the card does not support 3DS
things we are thinking about:
- removing the trial (this will probably kill our business so not likely we do this)
- making the trial $1
- shortening the trial and doing a hold instead of a setupIntent
- using third party services
is there something else we can look into or implement? has anyone else encountered this? we’ve done everything we can think of and have signed up for sigma too.
thanks everyone!