We’re proud to announce a new feature that we’ve been working on for awhile, called Smart Retries. We’ve learned over time that some failed payments can be collected successfully if you just retry them at the right time, and Smart Retries are a way for Stunning to retry failed payments in between Stripe’s retries. These retries are “smart” because their timing is dynamically adjusted based on what you’ve configured in your Stripe account in terms of Stripe’s retry timing, and a few other factors.
Smart Retries will help you recover revenue faster in situations where a card fails due to a soft decline, or insufficient funds, because these are temporary situations that a retry can fix, and with the combo of Stunning and Stripe’s retries, you’ll get more chances to recover revenue before the end of the dunning process.
For best results, we recommend that you set your Stripe retries to 7 days between each retry. That will not only give customers more time to update their billing information (if, for instance the billing contact is out of town), it’ll give you retries spaced out over a longer period of time, so there’s more of a chance that whatever is causing the billing issues will be sorted out between retries. You can find Stripe’s retry settings here: https://dashboard.stripe.com/account/recurring
This new feature is a major part of our commitment to dunning. Truly effective dunning is more than just sending emails. With Stunning, we’re committed to delivering a full toolkit for revenue recovery.