And you, do you rely on recurring payments? How to sell more in your eCommerce?
Stop focusing only on conversion to sales. The process is more complex than that. A stranger enters your website, browses your product page, chooses a product, adds it to the cart, and makes the purchase. This last step is the most important moment because a customer who finds their favourite payment method (the one that best suits their needs) is a satisfied customer.
But what happens when the product or service is consumed regularly? We see it often in gyms, series, and film streaming platforms (Netflix), digital music and podcast service platforms (Spotify), online product showcase websites for sale (Amazon), and even in your phone bills.
What happens is that consumers pay automatically and periodically for a service. In other words, the system allows merchants to automatically charge and debit a card that the customer authorises. This charge can range from daily and weekly to monthly or quarterly, known as a subscription model. Of course, the payment terms are regular and pre-agreed.
And do you know what the best thing is? You don't need to be on Netflix or Spotify to start accepting recurring payments from anywhere in the world. PayXpert helps you integrate this system easily into your eCommerce.
Discover all its advantages!
How to accept recurring payments in your online store?
Recurring payments do not necessarily have to be associated only with digital services, but they can also be associated with physical ones. In fact, it is becoming increasingly common to integrate this form of payment into e-commerce through the subscription setup. To this end, some key foundations of the subscription model are set out:
- Content. . What products can your customers select?
- Frequency. When will the products or services be delivered?
- Payment. How will you charge your customers?
At PayXpert, we help you integrate the subscription model quickly, smoothly, and easily so that your customers only have to sign up for the service without interruption. Recurring credit card payments are simple and convenient for users and offer great advantages to your business. On the one hand, electronic invoicing helps simplify the payment process, increase cash flow and reduce costs. On the other hand, they allow you to estimate future revenue and increase sales on recovered carts quickly.
These benefits are due to the staging of future automatic payments, eliminating the need for the customer to receive, open and act on invoices. Thanks to its recurring and electronic nature, all new sales are made automatically without any direct eCommerce intervention.
Ready to simplify invoicing and billing with card processing of subscriptions, recurring payments, and payments in installments?
14 benefits of integrating the recurring payments feature into your ERP or CRM
If you have a subscription-based business model, integrating recurring payments with PayXpert will bring great benefits to your business. In just a few steps, you will automate and customise all your payments. Now, you can generate your payment requests or use the dashboard to plan the frequency, amount, and currency of each collection.
Take note of the benefits of integrating recurring payments into your ERP (Enterprise Resource Planning) or CRM (Customer Relationship Management):
- Optimising and preventing manual entry.
- Offering payment through recurring payments without financing.
- Recovering abandoned carts.
- It requires little maintenance.
- It creates a solid customer database.
- It builds subscriber loyalty.
- More scalable services.
- Greater cost control.
- Increased convenience of payments and a sense of belonging.
- Higher profitability.
- Improved cash flow.
- It reduces the risk of non-payment and delays.
- It enables the estimation of future revenue.
- It increases the length of stay for each customer.
Subscription-based businesses could be the future of eCommerce. We help you through the entire integration process so you don't have to worry about anything. Now, you can start scheduling recurring charges for the same purchase once the card is tokenised, as well as incorporating this service into your abandoned cart recovery strategy. You'll be amazed at the results.
If unsuccessful transactions occur, the card may have exceeded its balance limit. However, you can offer the customer the possibility to try payment in instalments, you will sell much more in recovered carts in a very short time.
In a globalised world, accepting payments anywhere and in any way your customers want should not be a concern.
What you should remember about recurring payments
Do you already know how to accept recurring payments with PayXpert?
Subscription billing requires much more than recurring payments. You will be able to automate billing and invoicing and online subscriptions, and usage-based billing. As we told you at the beginning of this post, a satisfied customer is the one who finds the payment method that best suits their needs.
Now that you know how to achieve this, we can end this post with a couple of recommendations that will allow you to give your customers the experience they want.
- Make your international customers feel at home. How? By giving them access to a flexible set of customisation options in your store.
- Let them pay anywhere in their language and currency, even if they are blind or disabled.
- Enhance your store experience with the latest technology in the payments market and let your customers decide how they want to pay now and in the future.
- Improve your business operations. To do this, you can use our industry-specific features.
You are not on your own. Our managers will help you through the process of integrating digital payment solutions. Get ready to accept recurring payments anywhere in the world and enjoy the experience.
We are waiting for you!