Subscription settings

With Billing, you can enable revenue recovery features that prevent lost revenue in the MoneyCollect Dashboard, without writing any code. Go to the settings page, to enable features that let you:

  • Automatically retry failed payments

  • Send customer emails for failed payment, trial ending, and other conditions

  • Build custom automations to recover revenue

Manage free trial messaging / Prevent failed payments

  1. Manage free trial messaging:This email will be sent 7 days before a customer's trial ends.(If the trail is 7 days or less, the reminder email will be sent when the trail begins.)

  2. Cancellation policy link: This link will appear in all customer emails.If you don’t add one, we’ll use your business website instead.

  3. Send emails about upcoming renewals: This email will be sent 7 days before a customer's subscription renews (An email will only be sent if the billing period is longer than 7 days.)

  4. Send emails about expiring cards: This email will be sent 1 month before a customer's card on file expires. (If the card is added during the month it expired , an email will be sent in 24 hours.)

Manage failed payments

  1. Failed Payment Detection: MoneyCollect's subscription management system continuously monitors all payment attempts. Whenever a payment fails, the system detects the failure in real-time and triggers the subsequent actions based on your predefined settings.

  2. Automated Retry: MoneyCollect employs an intelligent retry mechanism that automatically attempts to process the failed payment again. The retry logic is designed to optimize the chances of success while minimizing the risk of overloading the payment gateway or processor. It utilizes techniques like exponential backoff and adaptive retry intervals for efficient and dynamic retries.

  3. Customizable Retry Settings: You have full control over the retry settings. Customize the number of retry attempts, the time intervals between retries, and the maximum time allowed for retrying. This flexibility allows you to tailor the retries to suit your business needs and payment provider requirements.

  4. Retry Notifications: Keeping you informed is a top priority. MoneyCollect's Subscription and Emails feature can automatically notify your customers when a payment fails and when subsequent retries are initiated. These notifications can be sent via email or integrated with your application through webhooks, allowing you to maintain transparent and proactive communication with your subscribers.

  5. Status control: Controls the status of subscriptions and subscription-derived invoice after retries have ended

Smart retries

After creating a subscription, payment failure is the most important event that can happen. Failures occur for many reasons:

  • Lack of a payment method on the customer.

  • The payment method is expired.

  • The payment is declined.

You can modify the retry schedule with custom rules. You can configure up to four retries, each with a specific number of days after the first attempt.

If recovery fails, the subscription transitions according to your settings. The options are:

Manage invoices sent to customers

You can configure the due date for invoices that are set for manual payment. You can also configure up to five reminders, starting at 10 days before the due date and ending at 60 days after.

You can also take additional action on the subscription 30, 60, or 90 days after an invoice becomes past due. The options are:

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