Recurly, a pay-as-you-go subscription billing
service provider, has launched a payment gateway designed to handle
the requirements of recurring billing.
The Recurly Payment Gateway will enable
companies that provide subscription-based payment services to
benefit from subscriber renewal and management capabilities as well
as credit card error optimisation.
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This is still a costly business as most
systems are custom-built.
The company said the new service will
alleviate the challenge faced by billing customers on recurring
subscription-based products, which often include declined credit
cards.
In many instances, credit card errors result
directly in unwanted customer churn, which is costly for
subscription businesses with recurring revenue streams.
Recurly’s payment gateway will assist
businesses in their effort to optimise their customer’s retention
rates, minimise customer churn, and extend the lifetime value of
their subscribers under management.
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By GlobalDataThis is achieved by integrating with TSYS
credit card processing service, Total Systems Service.
Dan Burkhart, CEO of Recurly said:
“We’re working on addressing the hardest
credit card processing challenges so that our customers receive the
benefits of our service while avoiding the need to invest in an
area that is non-core to their business.”
