The realm of payments encompasses a wide range of topics, from fraud and cross-border payments to artificial intelligence, mobile wallets, and compliance. Savvy subscription businesses realize that the payment process is a key element in maximizing their revenue. In fact, how well a business is able to optimize payments can be a significant competitive advantage—along with related data and analytics that can help to illuminate trends and other key insights.Continue Reading
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We’ve all been there: waiting in line at the grocery store with one item behind someone with twenty. It’s frustrating. The checkout process in e-commerce can be frustrating too, and subscription businesses should do all they can to optimize and streamline this process for their subscribers. Why? Because eliminating friction from the checkout experience is a best practice and can increase conversions. What are some ways to do this?Continue Reading
Every business competing in the market today seeks a competitive edge, and one way that subscription businesses gain this edge is by offering multiple payment options. Letting subscribers use their preferred payment method can increase conversions. And preferences differ. In the US and Canada, credit cards dominate ecommerce, but purchasers in other parts of the world favor digital wallets, direct debit, and other payment methods. Demographics also play a role in what payment methods are preferred.Continue Reading
Customers have come to expect convenience, simplicity, and speed when completing activities online. This expectation is especially true when shopping and completing purchases on a mobile device.
With cart abandonment rates for mobile devices topping 85% last year, and the average across device types at over 77%, merchants have an opportunity to increase revenue by offering the best mobile checkout experience possible. Businesses must scrutinize their mobile flow to ensure that they are maximizing revenue and reducing cart abandonment. This is especially important for subscription commerce where a merchant doesn't just lose a single sale, they lose an entire stream of revenue from future subscription renewals.Continue Reading
Smartphones have revolutionized many aspects of how we live our lives. From the convenience of text messaging to keep in touch, map apps which keep us from getting lost, immediate access to our favorite social apps to stay engaged, and always having a camera to document what we see and experience, the smartphone is an incredibly useful device. Most of us feel practically naked when we forget and leave it at home.Continue Reading
Every business competing on the market today seeks a competitive edge. One way to gain an advantage is to stay up to date with the latest technology and trends. For subscription businesses, adopting new payment technology—such as Apple Pay—can give them the edge they seek.Continue Reading