How to Cancel Authorize.net
Subscription in Few Steps
Need to cancel your Authorize.net subscription? Learn how to do it in a few easy steps and manage your finances effectively.
How to Cancel Authorize.net
You sometimes need to switch providers while running payment solutions for your business. Canceling your Authorize.net account could be due to the higher costs than desired, additional features needed, or even simple dissatisfaction with the service. This article will help you through the process, describing the refund policy, possible savings, where to invest those savings, and what alternative options are available.
Methods of Cancellation
Canceling your Authorize.net account is straightforward but requires attention to detail to ensure you don't incur additional fees or complications. Here are the steps to follow:
Via website
Step 1
Visit the website and login to your account.
Step 2
Go to the ARB Subscription Detail page.
Step 3
Click on 'Edit Subscription'.
Step 4
Select 'Cancel Subscription'.
Step 5
Click 'Yes' to proceed.
Via Phone
Step 1
The first step is to contact Authorize.net customer support. You can call them on 1-877-447-3938. Ensure you have your account details ready for verification.
Step 2
Inform that you wish to cancel your account. The support representative may ask for feedback on why you're canceling, which can be valuable for future improvements.
Step 3
You will receive a confirmation email after you make your initial request. Follow any instructions provided in this email to complete the cancellation process.
Step 4
Ensure you receive a final confirmation that your account has been canceled. Check your bank statements or account dashboard to ensure no further charges are being applied.
Authorize.net Refund Policy
Understanding the refund policy is crucial when canceling any service. Authorize.net typically operates on a month-to-month basis with no long-term contracts. Here's what you need to know about their refund policy:
Monthly Fees: If you cancel in the middle of a billing cycle, you may still be charged for the entire month. It's advisable to cancel towards the end of your billing cycle to avoid unnecessary charges.
Annual Fees: If you've paid an annual fee, you'll likely not receive a refund for the unused portion of your subscription. Review your contract terms or discuss them with customer support for clarification.
Chargeback Fees: Any chargeback fees incurred before cancellation will still be applicable and are not refundable.
Always review the terms and conditions of your Authorize.net agreement to fully understand the financial implications of canceling your account.
How Much Can You Save After Canceling Authorize.net
The amount you can save after canceling Authorize.net depends on your current plan and usage. Here's a general idea of potential savings:
Monthly Fees: Authorize.net charges a monthly gateway fee, typically around $25. Canceling this service saves you $300 annually.
Transaction Fees: Depending on your sales volume, additional transaction fees can accumulate. For example, a business processing $10,000 monthly with a 2.9% + $0.30 per transaction fee could save significantly by switching to a cheaper provider.
Calculate your monthly and annual savings by reviewing your billing statements and considering fixed and variable costs.
Where to Invest that Amount
Once you've calculated your savings, consider reinvesting these funds into other areas of your business:
Marketing and Advertising
Use the saved money to enhance your marketing efforts. Invest in online advertising, social media campaigns, or SEO to attract customers.
Technology Upgrades
Upgrade your business technology, whether it's new software, hardware, or other tools that can improve efficiency and productivity.
Employee Training
Invest in employee development programs to enhance skills and improve business operations.
Customer Experience
Enhance your customer service or user experience by improving your website, offering better support, or introducing loyalty programs.
Alternatives to Authorize.net
Several alternatives to Authorize.net offer competitive pricing and features that might better suit your business needs:
Stripe
Known for its developer-friendly API and wide range of features, Stripe is a popular choice for many online businesses.
Square
Ideal for both online and offline transactions, Square offers a comprehensive suite of tools for small to medium-sized businesses.
PayPal
A well-established payment processor, PayPal offers easy integration and is widely trusted by consumers.
Braintree
Owned by PayPal, Braintree offers robust payment processing solutions focusing on mobile and web integration.
Adyen
A global payment company that offers a unified platform for accepting payments anywhere in the world, Adyen is suitable for businesses looking to scale internationally.
Conclusion
Canceling your Authorize.net account involves a few straightforward steps but requires careful consideration of the financial and operational impacts. Understanding the refund policy, potential savings, and alternative options can help you make an informed decision. Reinvesting the saved funds into key business areas can drive growth and improve efficiency, making transitioning to a new payment processor a positive step for your business.
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