Dunning is the process of handling failed payments and declined credit cards to recover lost revenue. In subscriptions, the ability to handle these with ease will help you put your mind at ease. Loop Subscriptions provides you with powerful Dunning Features which can be accessed from the Loop App. Using some smart logic our platform will help you reduce Failed Subscriptions by predicting them ahead of time.
Where is it in my app?
You can find this easily by going into Loop > Analytics > Dunning.
The category is split into 4 panes, each showcasing different sections of Dunning.
|A powerful Dashboard to quickly see how well your payment collections are going
|Check the list of upcoming payments with associated risk levels
|Configure the number of retries, when to retry and what to do in case of all retries are done
|Reporting & Alerts
|Enable customer and admin alerts to take proactive actions on upcoming payments having high failure risk.
This page shows you a quick visual indication of the upcoming payments on your Subscriptions. Here is the list of items that are showcased on this Dashboard.
- High-risk payments (next 30 days)
- Payments with the last retry left (next 30 days)
Payments with cards expiring (next 30 days)
- Payments Snapshot (last 30 days)
- Payment attempted
- Revenue realized (%)
- Revenue recovered with Loop
- Lost revenue
Failed vs Realized revenue trend (last 6 months)
- Payment Failures (last 30 days)
Payment failures (last 6 months)
This page allows you to check the upcoming subscriptions and their associated risk levels. You can configure this pane by clicking on More Filters. Exports to CSV are also facilitated by the Export Button
These are the filters that are currently available to you
- Payment Date
- Retries left
- Last payment status
- Risk level
- Payment method status
This page allows you to configure the number of retries provided to the customer, when to retry, and what to do in case all the retries are done.
- Retry failed payments - This allows you to choose how many retries to be provided
- Delay before retrying a failed payment - This allows you to configure the days before a payment is retried
Configure delay settings based on the retry attempt allows you choose dfferent delays after each billing attempt
- Choose Action - This allows you to choose which action to execute once all the retries are over. These are the options available.
- Skip the Payment
- Pause subscription
- Cancel subscription
Note: Skip the Payment has the following key features listed below -
- you can decide when to auto cancel/ pause -> After 2, 3, 4, and 5 successive failures
- you can decide if the final action should be paused or cancel
- Customers are notified of the final action info in the emails and events payload synced on 3rd party apps.
Reporting and Alerts
This section allows you to configure admin alerts to take proactive actions on upcoming payments having high failure risks. This can be configured to send a report every week (and/or) every month with the list of upcoming payments.
Here are a few articles that you may find helpful, and we suggest you go through the same
If you have any queries or doubts about any of these steps. Please reach out to firstname.lastname@example.org
Loop Subscription Team 🙂