Subscription payments are the repeated transactions automatically collected from users or customers over regular time intervals - weekly, monthly, quarterly or yearly. This process is usually automated using subscription payment services which are basically out-of-the box solutions that enable recurring payments, recurring billing & invoicing and subscription management.
The main benefit of subscription model is the ability to predict revenue with good accuracy over a period of time. This data also enables better decision making and accurate revenue forecasting.
Measure important metrics like MRR, ARR, CAC, CLTV to get a better understanding of predictable income. Make use of valuable insights derived from metrics to make your data-driven decisions.
With powerful features like discount management, prorated billing, coupons, variable billing cycles your customer retention improves and so does your profits.
Accepting recurring payments through various payment gateways and payment methods like credit cards, direct debit, digital wallets de-risks your business from relying on a single payment gateway and reduces buyer friction at checkout.
Ability to bill yearly, monthly or for any period — even days. Charge your customers based on usage, if your business model asks for it. Choose to renew billing cycles based on the date customers signed up on, or bill all customers on a specific date.
Manage trials, assign credits, issue refunds, make mid-subscription changes, and allowance for unscheduled billing. Get a unified view of all subscription and customer data in one place and engage with more context. Roll out new subscription plans rapidly with flexible billing frequencies.
New compliances like PSD2 / SCA pop up every other year, the best subscription payment services easily adapts to this ever-changing land of compliances. Being SOC-1, SOC-2 and PCI compliant is the least any subscription payments software must possess to ensure your data security.