What is Account Updater?
Account Updater is the secure exchange of updated account information, facilitated by the card brands. Updated information flows through card brands, from card issuers and acquirers, to merchants that vault card credentials. This reduces checkout friction for customers, because they do not have to re-enter payment information to complete a purchase.
Supported Networks
Benefits
Increase Approval Rates
Reduce fraud through eliminating lost or stolen card information
Reduce Churn
Avoid lost sales and customer turnover due to card reissuance (up to 30% annually)
Improve Customer Experience
Eliminate the need for customers to re-enter card details when expired, and repeat purchases with a single click
Why Loon?
Coverage and Support
- Global support with a single connection
- Direct link to card network data
Ease of Implementation
- Quick integration into any vault architecture
- Simple API to get you started quickly
Flexibility and Performance
- Notifications sent when cards are updated
- Cloud-based service with low-latency
How it Works?
After integrating our service, you’ll be able to
Send cards to Loon via API, API-batch, or file-batch to meet all your Account Updater needs
Securely send account details from your vault directly to Loon, and receive updated account information from Visa and Mastercard
Provide a better customer experience by always having current credentials on hand