If you want to accept subscription payments online you have several options. Integrate them all easily with PayForm. In this article we’re going to explore what are your current options to accept subscription payments. Also we’re going to review the costs and the advantages.
Options to accept subscription payments online
If you want to accept subscriptions, a good starting point is to see if your product is fit for this. Service businesses are specially great for this business model. Also, if you have a club or membership, subscriptions are for you!
Another question you have to ask yourself, is that if you have a website. If you have it, you an accept payments directly on it, doing an integration. But, if you don’t, you can always accept subscription payments directly sending a payment link directly to each customer.
PayForm has a great tool for both options. You can embed an easy form in your website to accept subscription payments online. Else, you can send a link created in PayForm, directly to your customers. They will be able to subscribe online.
Costs of subscription payments
One of the most popular providers of subscription payments online is Stripe. With Stripe you can accept subscriptions for a low commission fee (2.9% + $0.30 as of March 2019 in the US) and even lower fees in Europe (1.4% + €0.25 as of March 2019).
You also must consider development costs associated with this type of solutions. PayForm is an easy to use solution without code that integrates both, to Stripe and PayPal. Costs start as $15/mo with a free 7 days trial (you can accept unlimited subscriptions during this time, and you will only pay the commission). PayForm is part of Stripe’s Verified Partner Program, that certifies the quality of the technical solution.
Advantages that comes after you accept subscription payments online
One of the main advantages that come from subscriptions is income predictability. While subscriptions can churn, it’s still more predictable than regular one-time purchases. This certainly improves the success chances of your business. And considering low success rates in new business (1 in 10), certainly this is an advantage.
Also, you can cut collecting costs. As subscriptions debit your customers’ credit cards automatically, you don’t need to collect manually. You will have more time to take care of other parts of your business.
Try subscriptions in your business today with PayForm.