Over the past two years, we have become increasingly aware that payment gateways have been designed to serve traditional e-commerce (one-time transactions) as their primary use case. In many instances, the features and capabilities needed to process payments on a recurring basis are sorely lacking. We have viewed this as both a challenge and an opportunity.
The Recurly Payment Gateway
We are proud to announce that we have built the first payment gateway designed to support recurring billing as the primary use-case. This means that we access rich error messages from the payment processor to optimize many different common credit card decline types. As we have communicated recently, credit card declines lead to painful customer churn, which is one of the most important and sensitive metrics for any subscription business.
During beta testing, our trials demonstrated a range of 10-27% incremental lift in recovered invoices for a variety of different kinds of businesses (Both B2B and B2C).
The new Recurly Payment Gateway is now bundled with the Recurly service. In addition, we are adding critical customer retention reports so that our customers can track the long term trends of their customers by cohort month, and by subscription plan.
New Recurly Pricing
As of today’s announcement, Recurly’s pricing structure has also changed.
We now charge a simple 1.25% and $0.10 per transaction per month, with a $69 monthly fee .
Grandfathered Pricing
Existing Recurly ‘live production’ customers will remain on their original pricing unless they choose to take advantage of the Recurly Payment Gateway, or any of our premium features – such as Retention Reports, Salesforce Integration, PayPal Payments or Multi-Currency support. We will continue to support other payment gateways to offer the broadest choice to our customers, but the cost of other payment gateways are not inclusive with our new pricing.
No Merchant Account, No Problem
All you need to take advantage of the Recurly service is your own merchant bank account. If you don’t have one already, we can help you apply and get set up with an account offering extremely competitive rates.
We’re excited about our role in helping companies to optimize their subscriber renewal rates. Our ambition is to make the Recurly service a distinct competitive advantage for our customers.
If you have any questions about the Recurly service, or the Recurly Payment Gateway, please contact sales@recurly.com.
We can help.
Cheers,
The Recurly Team.
I am currently using Paypal Website Payment Pro as both my Merchant Account and Gateway. Recurly is doing a great job for me regarding handling the subscription billing process. Please make a case for me as to why I should upgrade and make use of Recurly as my Gateway instead of Paypal Website Payment Pro?
If I make this change will Paypal still remain my Merchant Account?
Where can I find more details on the reports that are available with this new system and will they be based on the SaaS metrics?
The merchant account you’re using with PayPal will only work with PayPal’s payment gateway, but we can definitely help you get up and running with a new merchant account.
The Recurly gateway is designed to provide much better error fidelity. PayPal tends to provide more generic error messages that make it difficult for both you and your customers to know why a card has declined. Because the Recurly Gateway works so closely with the card processors, we’re able to return much more specific error messages and greatly increase your recovered invoices.
Feel free to contact support directly if you have questions about how this would impact your specific account!
Rachel you are always awesome with your customer service you rock balls!
I am curious can I keep what I currently have with Paypal and get the benefits of the SaaS Metrics reporting features that is rolling out in the new feature?
I don’t want to have to deal with getting a merchant account. I like the convenience of my current Paypal Website Pro Integration with Recurly.
Where can I find more details on the reports that are available with this new system and will they be based on the SaaS metrics?
P.S If you can turn your response to this comment into a Zendesk ticket that will be nice so that I am informed of your response and do not have to check this blog post
So the pricing of 1.25% and $0.10 per transaction per month includes both credit card processing fee and your fee for the recurly subscription platform? so no need for example to pay Paypal anymore to handle credit card payments?
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