International Recurring Payments (How We Handle It for You) (How We Handle It for You)

If you are managing international recurring payments There are three major factors to be considered:

1. Being up-to-date in local tax laws and transaction regulations
2. It is now simple for consumers to complete their first purchase, and then sign up for recurring payments
3. Ensure that each payment after goes through

Though it may seem simple but there are a myriad of factors to consider in order to accomplish those three objectives which include:

• Rates of currency conversion
• Types of preferred payment
• Payment processing
• The tax collection and remittance for each country, state, territory, etc.
• Payment failure handling
• Fraud prevention
• Management of subscriptions
• Translations of the site
• Chargebacks
• Dunning process
• and many more

The majority of recurring payment companies can only aid you in only a handful of these categories and leave the rest for you to determine. For example, some payment solution providers will aid you with processing transactions in foreign currencies, but won't help you pay taxes for those countries.

In this piece We will explain what it takes to be an Merchant of Record and how :

•   Pays sales tax (including GST, VAT and GST, etc.) on behalf of you
•   Keeps up to date with local laws and regulations
•   Reduces churn with active payment retries as well as customer notification
•   Makes it really easy for consumers to purchase
•   Controls the recurring payments for you
•   Offers all the features in one price

What It Means to Have as your Merchant of Record

A Merchant of Record (MoR) is a company which sells products or services to the buyer. The MoR is in charge of every aspect of transactions, from collecting and processing information about payment including security, taxes as well as compliance issues, chargebacks, audits, etc. If anything goes wrong or has been done improperly If something goes wrong or is done incorrectly, the MoR will help in resolving the problem on your behalf.

The company can function as its personal MoR and handle all of the above internally, or transfer the entire process to and let us be the sole responsible party for each transaction. When is acting as the MoR for your company, you are in charge of the product/service, checkout experience, and branding -- we handle everything else, such as taxes, legal compliance and credit card network acceptance rates, dunning rates and much more.

Let Handle the Collection and Remittance of VAT and Sales Tax.

It used to be true that SaaS and software was exempt from many tax laws throughout the world (or simply not a significant target for audits). However, tax laws regarding online sales are evolving and being more strongly implemented.

Every country, state, province, territory, etc. that you do business with each has their own regulations concerning the quantity and nature of tax that must be collected as well as the date they must be payed. And that's a lot to manage.

Note:.

Typically, global tax management will require a payment processing platform and the tax compliance software to calculate and collect sales and VAT taxes on every transaction. Although some payment services take care of tax collection however, you'll be accountable for paying these taxes. If you fail to pay the right amount of tax, you could be liable for thousands of dollars in penalties and interest. But figuring out how to be tax-paying in all jurisdictions is usually a lengthy process and usually requires a group of tax experts and accountants.

When is your MoR, we collect and remit consumption tax (including GST TVA, SST, etc.) on every transaction. We also file every tax return required by your benefit.

automatically calculates and adds the tax amount to be included in the price at checkout. Additionally, we support tax-free transactions, as well as other unique cases.

Always be in compliance with Local Laws and Regulations

Similar to taxes, every country, state and territory. is also governed by its individual laws and regulations regarding the way that recurring transactions are conducted. For example it is the Reserve Bank of India limits automatic recurring payments to 15,000 INR. In the event that a payment exceeds the limit, the consumer must approve the transaction with additional factor authentication (AFA) such as a One-time Password (OTP). In order to be in compliance with this RBI regulations, you have to file an e-mandate that outlines the type of AFA you'll be using.

This is just one example of the types of laws you need to be aware of when transacting globally.

Being up-to-date with the laws of the respective local area can be time-consuming as well as expensive. If you don't have the correct procedures implemented, you will not be able to accept payments. Certain payment services can help you stay on top of local regulations and laws by notifying you when they are aware of any new regulations or laws. But, you are ultimately responsible for knowing about and observing all applicable laws and regulations.

But for customers, this is not a concern because as your MoR is our responsibility, we are fully responsible for ensuring compliance with local regulations and laws governing transactions. Our legal team stay up to date on every legal aspect and makes sure that all processes are in place to taking payments.

is fully compliant with the EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). We also renew our Level One accreditation (which is the most prestigious level that is possible) with an annual certification to the Payment Card Industry Data Security Standard (PCI DSS) every year.

Reducing Involuntary Churn by Automated Payment Retries and Customer Notifications

Since involuntary churn is one of the primary reasons why businesses that use subscriptions lose clients and customers, many businesses have a system for automatically retrying unsuccessful payments, or for notifying clients of payments that have failed. This is a good first step, but the next step is to inform customers of soon-to-be-expired payment types prior to they make the payment, and then keep in touch multiple times following a failed payment. It can require several hours of staff time and effort to maintain these processes.

 We handle all payment failures and customer notices for our customers.

sends out email reminders to cardholders when their card will expire, so they can update the data beforethe credit card transaction takes place. also automatically retries failed payments. When the payments continue to not work, we will notify the user. It is also possible to be able to send reminder email notifications two, five, seven, fourteen, and twenty-one days after their payment method fails. We have found that the reminders and alerts we send out can significantly decrease the level of voluntary turnover.

While this is happening the customer's services won't be disrupted. If you continue to provide the service your customer is less likely to let their subscription lapse and more likely to be able to correct their details.

It is also possible to stop rather than end their service if they fail to update the payment information. This will allow your customer to restart their subscription without the hassle of re-onboarding.

Create a streamlined process for buyers to purchase using preferred Payment Methods, Localized Transactions Translates, Payment Methods, and Much More

Friction at the purchase step may cause companies to take on more customers than they would have. In the case of foreign customers, there could be many causes of payments-related friction. As an example:

• Don't provide your customers their preferred method of payment
• The checkout text isn't written in a language that shoppers know.
• It's not listed in the local currency.
• It is declined, or can take too long to process

 can help you conquer these obstacles by:

• Accepting many different payment methods (and managing the choices so that transactions are quickly authorized)
• Translating your payment page(s) to a range of languages
• Converting prices to local currencies

We cover this in more depth in the sections below.

Preferred payment methods

Different types of payments are accepted in different nations. If you don't offer forms of payments that specific customers have a preference for, you'll convert less of them to customers. This is why it's crucial to ensure your payment solution will support the various types of payments that your target customers are most comfortable with. In reality, some global payment services will be restricted in terms of payment they accept.

Some payment service providers will exclusively support debit transactions. If your customers of choice prefer to pay with E-wallets or credit cards (e.g., PayPal) it could cause an issue.

Additionally, if you want to take payments from abroad, you also have to take into consideration the different kinds of credit cards that are used in different countries. For example, while MasterCard and Visa credit card are widely employed by people in the United States, UnionPay is much more popular in China.

In reality, integrating and managing payment methods that are popular can be more difficult than the addition of their logos to your checkout screen. Each card issuer has different tolerance levels for fraud as well as chargebacks. They also have different rules regarding how transactions take place. If you're not in compliance to these rules, the card network may stop authorizing payments altogether.

also supports the most popular payment methods including:

• ACH
• SEPA
• BACS Direct Debit Scheme
• PayPal
• Amazon Pay

In addition, credit card companies are more likely to accept locally-processed transactions when the buyer's bank and the seller are both in the same jurisdiction (for instance, a customer from Germany paying a business that is also located situated in Germany). works with multiple banks that acquire transactions across the globe and continues to add more. Since we sell to you on behalf of a MoR the majority of your business's transactions will be processed locally which means more payments will be accepted.

Automated Currency Conversions and Language Translations

Customers are more likely to be satisfied with a checkout service that is offered in their own language and currency. If you've never transliterated your checkout's text or changed your pricing to the local currency it's likely that you'll lose prospective clients.

 With , you can convert your shopping cart to different languages and automatically convert the customer-facing price into local currency.

For shopping cart translations, you can:

1. Each buyer should select their preferred language from the drop-down menu.
2. It will lock the language and automatically select the appropriate language based on the buyer's location.

Additionally, you have two choices for currency conversions:

1. Set your own price for every country. Our team can guide you on what your fixed price should be.

If you choose to let the conversion of your product price be done for you, we'll match the general format of the price. For example, if your base price is $19.99 and your conversion rate to Euros will be EUR20.29 then it will be converted to EUR20.99.

Modify Your Subscriptions, and let us Control the Rest

provides all the instruments you require to create and manage different kinds of online recurring payments. Below are some examples of the types of recurring transactions you can control using the following tools :

• Free trial periods with or without collecting payment information prior to the trial.
• Prorated subscription payments
• Variable billing intervals
• The subscription is suspended
• Upgrade renewals
• Prepaid recurring bill
• The subscription comes with a single purchase when you sign up
• Plus...

It's simple to setup virtually any kind of subscription in just a few clicks. It is possible to set up the majority of subscription types without any codes, however, you may make more sophisticated subscriptions using our API or webhooks library.

All-in-One Pricing (No Hidden Fees)

Most payment service providers set a price base for each transaction and then add on a charge for every added option (e.g. access to global card networks, special subscription logic or.). This type of pricing makes it hard to determine the exact amount you'll pay. Additionally, it can be difficult to scale globally as your company grows since costs will rise as you require additional features.

 There is no additional charge for each features. Instead, our staff will determine a straightforward cost that grants the user access to all aspects of . Pricing is based on the number of transactions that the system handles  in a day, and you'll be charged when transactions are completed.