when it comes to a choice between a #subscriptionbilling platform and a #paymentgateway. Customer experience is of foremost importance for any business, and this only gets amplified for a SaaS or subscription business, where concerns like #churn and #customerretention take the foreground.
With capabilities that minimize friction across every stage of a subscriber’s lifecycle, your subscription management and #recurringbilling system should help you provide a stellar subscription experience.
Some payment gateways have also built out basic modules for handling subscription management to help small businesses out. While you may get started with the same product for both gateway and recurring billing, as a growing business, you will soon outgrow their modest billing capabilities. Since the payment gateway market is much larger than the subscriptions market, it’s genuinely hard for them to specialize in subscription billing.
From a strategic point of view, there is another fundamental advantage that billing software has over a gateway. Recurring billing systems are designed to be integrated with multiple payment gateways and payment methods.
This helps in two fundamental ways:
Market expansion through a variety of #paymentmethods, and
Reducing the risk of high payment failures that come with being tied to a single payment gateway.
When it comes to your subscription business, a payment gateway focuses on receiving payments, and a subscription billing software focuses on managing your subscriptions (who are also your customers).
In essence, the subscription billing solution makes your payment gateway smarter and smarter is better.
So try MYFUDBOX Subscription Platform today and experience difference in your business