Failed payments, which occur for various reasons, negatively impact businesses of all sizes. In fact, research suggests that payment failures cost businesses approximately $20.3 billion each year worldwide.
How your business handles a failed customer payment goes a long way in recovering revenue, reducing customer frustration, and cutting churn. One of the best ways to manage unsuccessful payments is to provide clear, actionable, and timely communication to the customer. This is where a well-written payment failed message can help.
In this blog, you’ll learn the top reasons for failed payments and get 15 payment failure message templates that you can use to recover more revenue and maintain positive customer interactions.
Jump right to:
- Most Common Reasons for Failed Payments
- How Payment Failure Messages Help
- Key Components of an Effective Payment Unsuccessful Message
- 15 Payment Failure Message Templates
<span id=Common>Most Common Reasons for Failed Payments</span>
Failed payments happen for many different reasons. Here are a few of the most commonly cited reasons from businesses:
- Expired credit cards. Customers may not notice that their credit card has expired. This is especially prevalent in subscription-based businesses, where customers store a credit or debit card on file to facilitate recurring payments.
- Payment detail typos. A customer may enter their credit or debit card information incorrectly. Any errors in the full card number, CVV, billing address, or expiration date will result in payment failures.
- Insufficient funds. Sometimes, a customer may not have enough money in their account to make a purchase.
- Outdated billing information. If the customer updated their billing address or contact information, and it doesn’t match what the bank has on file, a payment decline will likely occur.
- Technical glitches. Sometimes there’s a technical glitch on a business website or with the payment processor. This can occur when there is a faulty internet connection, a software bug, or a required maintenance update.
- Fraud decline. Banks and businesses both have fraud detection mechanisms in place that can sometimes prevent even legitimate purchases from occurring.
- Card limitations. A customer may have hit a daily, weekly, or monthly spending or withdrawal limit.
<span id=Help>How Payment Failure Messages Help Businesses</span>
Payment failure messages can help businesses create a positive customer experience. In particular, these messages can:
- Boost revenue recovery rates. The reality is that customers were just about to make a purchase or renew their subscription before the payment failed. A payment failure message can help you recover potentially lost revenue by encouraging customers to update their card information or try again.
- Limit customer confusion. Customers are likely confused about why their payment didn’t go through. Help them understand why the payment failed with a clear and concise message.
- Build trust and relationships. Transparent messaging about the payment failure can go a long way in increasing consumer trust in your business and reducing customer churn.
<span id=Key>Key Components of Effective Payment Unsuccessful Messages</span>
Effective payment unsuccessful messages contain the following critical components and characteristics.
- They are clear and concise. Nobody wants a confusing message about a failed payment. Instead, make sure that these messages get straight to the point and are easy to understand.
- They use a reassuring tone. When a payment fails, customers can feel embarrassed. In these scenarios, it’s important to squash their worries by using a reassuring and positive tone.
- They provide the reason. In an ideal situation, you will know exactly why a customer’s payment failed and include this information in the message. This can help customers understand exactly what happened and enable you to resolve the problem quickly. If you’re unsure of the reason, you can simply state that the payment was unsuccessful and offer a few common reasons why.
- They provide an actionable step. The next component of an effective payment failed message is to help the customer take the next step to remedy the problem. For example, you can encourage them to retry the payment, update their card, or use a different payment method.
- They gently persuade payment. Your customers should be aware of what will happen if a payment is not made. This means sharing what consequences they may face if it is not remedied soon. Some examples include experiencing a service disruption or shipment delay.
- They provide a way to get in touch. Make sure that a customer can reach you with any questions about the payment failure.
<span id=Templates>15 Payment Failure Message Templates for Text and Email</span>
Now that you understand some of the core components that make up effective payment failure messages, let’s dive into some templates to send via text message and email.
10 Payment Failure Text Message Templates
Let’s look at a few payment unsuccessful message templates to send via SMS. These text templates will help you encourage customers to update their payment information and try again. SMS, which boasts a 98% open rate, is an effective way to ensure your message is read by your customers. These messages are particularly useful if you’re using SMS billing.
1. Friendly Payment Failure Text
We tried to charge your card, and tripped. Chances are it’s an expired card or a small typo. You can fix it faster than we can say ‘oops.’ [Link] Reply to this text with questions.
2. Formal Payment Failure Text
Hi [Name], your payment for [product/service] was unsuccessful. Please update your payment information before [date] to avoid [consequence]. Thank you, [business name] and [phone number].
3. Concise Payment Failure Text
Hi [Name], your payment for [product/service] didn’t go through. Please update your billing information by [date] at this link: [link]
4. Urgent Payment Unsuccessful Text
Urgent: Your payment for [product/service] failed. To avoid service disruption, please update your information now: [link] Reply to this text with questions.
5. Credit Card Declined Text
Uh-oh, [Name], your credit card declined! Tap the link to try again or use a different card: [Link]
6. Incorrect Information Text
Something’s off with your card details, perhaps a typo? You can double-check your payment information here and try again: [link] Reply to this text with questions.
7. Bank Declined Card Text
Your bank declined the most recent payment for [product/service]. You can contact them to understand why, or try a different card here [link]
8. Insufficient Fund Text Message
[Company] couldn’t complete your payment due to insufficient funds. Please try again or use a different payment method. [Link]
9. First Failed Payment Text Message
Your recurring payment for [subscription] failed. It’s usually a card issue or typo. Please take a look and fix it here: [link]
10. Multiple Failed Payment Attempt Text Message
Hi [Name], we’ve made a few attempts to process your payment without success. To keep your account active, please update your billing information by [date] here: [link]
5 Failed Payment Email Templates
Payment failure emails can help you provide essential details about customers’ failed payments. Here are five email templates for unsuccessful payments.
1. Friendly Payment Failure Email
Subject line: Oops! Your Payment Failed
Hi [Name],
We tried to process your payment for [product/service], but it didn’t go through. It’s likely something simple like an expired credit card, an outdated address, or a simple typo.
Don’t fret, these things happen! You can update your payment info at this link. [Link]
To avoid any interruptions, please update these details by [Date]. If you need assistance, just reply to this email or call us at [phone number].
Thank you,
[Name] from [Business]
2. Formal Payment Failure Email
Subject line: Payment Update Required
Hi [Name],
Your latest payment for [product/service] was not successful. It could be due to an expired card, incorrect information, or a glitch on our end.
If you could take a moment to double check your billing information or update your payment method, please do so here: [Link]
We’ll retry your payment automatically in [duration], but if the issue persists your account will be paused on [date].
Questions? Just reply to this email or call us at [phone number].
Sincerely,
[Name] from [Business]
3. First Failed Payment Email
Subject line: We Couldn’t Process Your Payment
Hi [Name],
This is [Name], I’m a [job title] from [business]. It looks like your recent payment for [product/service] didn’t go through! Don’t worry – it’s easy to fix and we’ll get your account up and running in no time. Just update your payment information at this link. [Link]
If you need help, you can simply reply to this email or text us at [phone number]
Best,
[Name]
4. Multiple Failed Payment Email
Subject Line: Payment Unsuccessful Again - Update ASAP
Hi [Name],
We’ve made multiple attempts to process your payment without success. Please update your billing details now to keep your account active. Without a successful payment, we will need to pause your account on [date].
Need help or want to chat with our support team? Just reply to this email or call us at [phone number].
Best,
[Name] from [Company]
5. General Payment Failure Email
Subject Line: Payment to [Business] Failed
Hi [Name],
It appears that your payment for [product/service] was unsuccessful. Don’t stress, these things happen! However, to keep your [service active/items arriving on time], please update your payment method as soon as possible. You can do so at this link [link].
Do you have questions or concerns? You can just email us back here or call us at [phone number]
Best,
[Name], from [Business]
Shield Your Business From Payment Failure Impacts With Textedly
Payment failures are never enjoyable for your business or your customers, but a timely and reassuring message can keep the revenue flowing and your customers happy. Textedly helps businesses send well-written payment failure messages at the right time. With features like text templates, scheduled messaging, automated texts, and 300-character messages, Textedly enables businesses to share these messages with ease to get more successful payments.
Textedly also offers a Text-to-Pay feature that enables brands to collect more payments via SMS. With this feature, businesses collect payments from customers via a textable and secure payment link.
Ready to streamline payment collection and management? Try Textedly free today.
