#churnrate research from Pymnts: 30% of #streaming #subscription's missed a payment in the previous year; and 48% of #churn comes from failed payments. This shows the value of automated #AI payment retry by companies like Pymnts, Butter and Zuora
https://www.pymnts.com/economy/2023/consumers-may-be-pinched-interest-payments-increase/
PYMNTS.comConsumers May Be Pinched as Interest Payments IncreaseA slew of government data points this week shows just how hard the balancing act between spending, tackling mounting debt obligations and saving is becoming.
My POV is that many of those are not "involuntary" #churn in the sense that people will deliberately not update a payment card instead of calling in to cancel for a #subscription they no longer want. But its still quite eye opening and highlights the value of automated retry by companies like PYMNTS, Butter and Zuora.