Dunning management is the process of automatically handling failed payments due to such scenarios as expired credit card, credit limit exceeded or invalid card numbers. Payment Center provides a very simple way of setting up payment retries to such scenarios.
Go to Payment Center Settings tab, then click Reminders (or Dunning on lower versions).
Select the desired Dunning Options.
Fixed Attempts
Fixed Intervals (introduced in November 2020 Release)
For Fixed Attempts, set the 1st/2nd/3rd attempt options.
For Fixed Intervals, set the number of days and the number of attempts.
If payment is still unsuccessful after all attempts, a manual follow-up is needed at that point.
Email Notification Template – defines the format of the email that gets sent to the card holder every time an automatic payment has failed.