What do payment facilitators like Ezypay mean by ‘migration’?
- October 27, 2024 ⎯ 5 mins read
Quick summary:
- Migrating your customers’ payment information to a new payment provider can be risky and expensive if handled incorrectly
- Working with a trusted payments provider like Ezypay can streamline this process
- Mishandling a migration can result in customer churn, complaints, reputation loss and even fines
You’re thinking about migrating your customers from one payment provider to another. There are many reasons why you’d want to do this: maybe your new payment provider has better rates or offers better features.
Whatever your reasons, before you can start collecting payments with your shiny new payments provider, you’ll need to move your existing customer data over from your old platform to the new one. This process can be a challenge, especially if you don’t know what you’re doing: dropping the ball when migrating sensitive customer data and payment information can incur additional risks, like data breaches and fines.
When left to the experts, migration can be a total breeze.
Why is migrating customer data complicated?
- Lack of experience
Migrations, like payments, are complicated. Moving sensitive payment data from one platform to another can be an intimidating process for businesses. - Limited support
Some payment providers are guilty of providing poor support during migration. A lack of support can turn a migration into a time-consuming, complicated nightmare for businesses of any size. - Time-consuming
Migrations take time to perform correctly, especially for multisite operations, or franchises. When mishandled, migrations can take several months to complete. - Risk of churn and reduced customer experience
Customers may take their business elsewhere if forced to provide their payment details again or experience any downtime related to the migration. - Data breaches, fines and reputation loss
When migrating customer data there’s an increased risk of leaking sensitive PII (personally identifying information), which can incur data breaches and big fines.
Tap into seamless migrations with Ezypay
Luckily, migrations don’t have to be a complicated process. Ezypay are the migration experts and have successfully migrated hundreds of thousands of customer records.
To start the migration process, Ezypay’s dedicated migration team will reach out to the incumbent payment service provider on behalf of the business looking to migrate their customer data.
This data set includes everything from the customer’s PII, payment details, card tokens (if applicable) and subscription details.
The Ezypay migration teams’ sole job is to handle migrations and guide business through the entire process, start to finish – assisting wherever possible with information and answers to the most pressing questions. This means that migrations which might typically take months to complete can be resolved within a matter of weeks to days, with minimal impact on members and their payments.