How to Store Credit Cards With Clover for Recurring Payments

Many point of sale payment solutions don't allow you to store credit cards, however Clover does. Given its modern approach, excellent reputation, and growth this shouldn’t come as a surprise. Now that Clover itself is able to capture and store credit cards for recurring payments there are new opportunities to optimize it and maximize recurring revenue.

The Use Case For Clover Recurring Payments

Clover is a popular choice for businesses that need the features and functions of a full POS payment solution. It has many things going for it such as competitive processing rates, an open API and app market, ease of set up and use, and an aesthetically pleasing design.

If you’re running a restaurant, retail store, service business, hotel or other business with Clover there are many instances where you need to store credit cards and keep cards on file. These are just a few examples of how many opportunities there are to generate more business outside the point of sale environment by offering card not present transactions.

• An orthodontist that has repeat patients requiring them to re-swipe a credit card each visit.
• A restaurant that also features online ordering for pick-up and delivery.
• A retail store that offers a wider selection of inventory online.
• A gym offering "first month free" if you sign up for automatic recurring payments.
  

Exacerbating the Problem

Optimizing for the endless number of these card on file opportunities will directly boost your bottom line. All of the examples above create a double-entry order experience. Whether in-person, on a smartphone, a web browser, or some other channel, entering payment details multiple times causes friction and slippage, ultimately disconnecting customers from your brand.

This disconnect creates a disjointed customer experience; moving freely between offline and online shopping channels is more and more the norm, particularly among younger consumers. The expectation for a consistent user experience puts pressure on retailers to change quickly if they want to maintain customer loyalty.

According to Juniper research the worldwide recurring payment market is worth $13.2 trillion annually. On the mobile front alone, in 2023 the number of proximity mobile payment users in the US has climbed 22% to 114.8 million since 2020. By 2025, over one-third of US smartphone users will use proximity payments at least once every six months.

All of this supports the need for a seamless brand experience, that a card not present payment solution enables.

Optimizing Clover Recurring Payments with Spreedly

Clover now provides the capability to store credit cards and use them for recurring payments, a significant enhancement for merchants. To further streamline and optimize this process, Spreedly's Payment Method Distribution (PMD) allows you to leverage cards that are securely stored and tokenized within Spreedly's credit card vault, and use them to transact directly with Clover.

PMD is a unique feature where Spreedly initiates a call to a third party API, such as Clover, and includes the securely stored and tokenized credit card data in that call. Acting as a proxy, Spreedly seamlessly adds sensitive cardholder data before passing along the customer's API request to the third party.

With Clover's recurring payments and Spreedly's PMD, you can enjoy an enhanced, efficient, and secure payment process for your recurring transactions.

Take the first step towards accepting card not present transactions. Talk with a Spreedly expert about optimizing your recurring payments today.

Other Ways To Optimize Recurring Payments

Payments orchestration can play a crucial role in optimizing payments of all kinds, but recurring payments in particular. By delivering an array of benefits to businesses and their customers like the above example, Spreedly makes light work of common payment problems. By implementing tokenization and securely storing customer card data, payments orchestration significantly reduces the risk of service disruptions due to missing or outdated payment details. This ensures that essential payment information is ready for every transaction, simplifying the payment process and elevating the overall customer experience.

Other benefits that payments orchestration include the following:

• Payment Gateway Diversification: Spreedly supports over 120 different payment gateways, enabling businesses like an eCommerce retail store  to accommodate a global customer base with varying payment preferences, thus improving the overall customer experience.
• Smart Routing: With smart routing capabilities, payments orchestration helps businesses route transactions to the gateway where they're most likely to succeed, improving payment acceptance rates and minimizing declines, an essential feature for international transactions.
• Increased Security: The secure vault of a payments orchestration system minimizes the risk of data breaches and fraud by securely storing customer payment data. It also alleviates the burden of PCI compliance for businesses, significantly reducing the associated costs and complexity.

Streamlined Operations: By centralizing the management of recurring payments, payments orchestration streamlines operations, allowing businesses to track and manage all their transactions from a single platform.

By integrating payments orchestration, businesses like eCommerce retailers can enjoy a more streamlined, secure, and successful recurring payment experience, driving customer satisfaction and growth for those customers who can’t make it into the store.

Should I Optimize Clover’s Recurring Payments?

Optimizing recurring payments is vital to delivering a seamless omnichannel experience. Clover's card storage capability, combined with Spreedly's Payment Method Distribution and payments orchestration, offers businesses a comprehensive solution to increase efficiency, security, and customer satisfaction. Businesses with physical locations such as restaurants to gyms, businesses across sectors can now tap into this opportunity to enhance their operations and drive growth by accepting card not present transactions.

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