FlexPay and Spreedly Expand Partnership to Offer Failed Payment Recovery for Subscription Customers

Spreedly, the world’s leading open payments platform, and FlexPay, the leading global payments and technology company, announced today they have expanded their partnership to recover failed transactions and eliminate involuntary churn for FlexPay’s subscription customers. FlexPay recovers up to 70% of failed payments and extends the customer lifecycle following its interactions by up to 45% over other recovery solutions.

FlexPay is the leading global payments technology company whose platform combines highly effective machine learning and AI with a behavioral science powered customer engagement program to solve most declined credit card payments, a global problem preventing hundreds of millions of dollars in legitimate transactions between merchants and customers annually. The platform is trained on billions of transactions, enabling unmatched performance in the payments industry, and is integrated with 100+ billing and payment processing systems. FlexPay uses Spreedly’s open payments platform. 

The FlexPay team has expanded its partnership with Spreedly to offer its customers Advanced Vault, a solution designed to increase transaction success rates, lower the overall cost of managing payment vaults, and measurably improve the end customers’ experience.

“We work closely with our subscription customers to employ new financial metrics better to connect the results of retention initiatives to profitability,” said Charles Weiss, Vice President of Engineering at FlexPay. “Part of that story is the long-standing relationship with Spreedly that drives more value for our customers by taking away much of the integration complexity found in most payment stacks. It just works.” 

Daniel Scagnelli, Senior Vice President of Client Services, commented on the expanded partnership: “Partnering with other innovative payments technology providers like FlexPay further increases the value we can bring to merchants globally. There is powerful alignment in our vision to unlock choice among PSPs, fraud tools, and other innovative payment services to improve customer experience, lower churn, and improve lifetime value.”