Recurring billing systems are used by subscription companies to collect revenue due from their customers at regular, automated intervals. These solutions are popular among online service providers, such as SaaS, e-learning, streaming, or subscription boxes, companies who can receive automatic repeat payments without needing to re-authenticate a transaction from the same user each month.
A subscription billing system can come in all forms and sizes, so it's important that you pick the best recurring payment processor for your business. There are a lot of aspects to consider and it helps to know what to look for and what you're getting for your money. This guide will help you choose what's right for your business.
Some of the most useful subscription billing system features available on the market include the following - make sure you evaluate each aspect in terms of business needs and provider capabilities.
Start by reviewing what types and how many payment methods are included in the recurring payment system. Be sure to also check whether these are also available for one-time purchases - you might want to extra-monetize your users with these one-time purchases, so it serves to have the option ready.
If selling in multiple markets, it's also relevant to check what currencies are accepted and if the subscription-based billing system includes all local preferences in the market.