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The boom in the digitization of physical businesses and digital native ventures during the pandemic has led to the proliferation of subscription, membership, or flat-rate business models. These are services, usually digital, that are enjoyed during the entire period of time for which you are subscribed. Popular examples of businesses that run on this system are Netflix, Spotify, or the “premium” format of many apps and websites.
This payment system has great advantages for the company that adopts it, since it easily achieves recurring income and offers countless ways to retain customers and keep them subscribed to its services. To better understand how these business models work and how PaynoPain can help easily charge their customers, let’s look at examples of types of subscription payment businesses that are currently very successful:
Content and entertainment platforms
We all know the big boys, but there are more and more options for digital entertainment platforms that charge per subscription. Movies and series, music, books, video games… Also others where independent content creators upload their creations and their followers can pay a subscription to access them, for example Patreon or Ko-fi. Digital newspapers with paid subscriptions would also fall into this category.
Subscriptions to these services usually have a monthly frequency and customers are very aware of the expense involved, so the content must maintain a good level of quality and strive to keep users loyal. And, of course, the best way to ensure payments and maintain proper management is to have a payment gateway such as Paylands, with a specific and complete tool for subscriptions.
Gyms and other physical services
Neither subscriptions are something new nor only digital services charge for this system. A good example is gyms, which have been using this business model for many years.
For physical services, our digital subscription payment system is also very practical, allowing users to manage their payments virtually and forget about both cash and cards. The physical business can control the payments of its customers from the Paylands digital control panel and take advantage of the same advantages that we offer to virtual businesses.
Most of the service apps that emerge today use the “freemium” system, which consists of offering a small part of the services for free and a more “premium” part under payment of a periodic subscription.
Although there may be monthly or quarterly payment options (for example), it is common for app subscriptions to be made for periods of one year, since they are usually very low fees, of a few euros. If customers are satisfied, they will very often forget that they are paying for the service and the optimal thing will be for the subscription to be renewed automatically without further complication for either party.
Individualized services: coaching, trainers, advisors…
One type of entrepreneurship that has emerged strongly during the pandemic are personal projects for individualized services, such as coaching, personal trainers, all kinds of advice… And many of them are born directly in their digital version, since it allows them to reach a much wider audience while saving resources.
This type of project may require a single one-time payment or a subscription, and in both cases having Paylands as a payment gateway will have enormous advantages, since the entrepreneurs will be able to send a payment link by email, sms, whatsapp, etc. for a punctual, easy and simple payment, or to subscribe their clients and enjoy all the advantages of our tool.
What does the Paylands subscription payment tool allow you to do?
- Create your own subscription plans: Paylands allows you to establish automated payments with the desired frequency and amount so that each business can create their own subscription plans.
- Make different collection attempts: if the client does not have money in his account at the time of collection or any other setback occurs, there is no reason to lose the client or have to invest time and resources to solve the incident. With Paylands it is possible to set the desired number of payment attempts so that, automatically, the subscription will be tried again for X days.
- Check the balance in advance with a pre-authorization: it is also possible to ensure the payment before the moment of payment of the subscription arrives, using the pre-authorization functionality. Thus, in advance of the collection date, Paylands will send an order to verify that there is sufficient balance in the account and retain the amount to be paid to ensure the payment of the subscription when the time comes.
- Receive notifications with processed charges: by configuring a URL, each time a subscription is generated or a payment is processed, a notification with the stipulated data will arrive at the configured URL. In this way, it will be much easier to automate the entire process without losing control of the information at any time.
What makes the subscription payment system different from PaynoPain?
Beyond the advantages of the service and the rest of the tools of the Paylands payment gateway that facilitate all your clients’ payments, at PaynoPain we differentiate ourselves by offering a close and personalized service to our clients. We listen to your needs and improve our tools based on them. For this reason, Paylands is constantly evolving and improving.
If your business has specific payment needs, don’t hesitate to contact us and explain what they are. Very possibly we will find a way to help you: