Subscription and recurring payments are quite often used as synonyms, meaning the same thing, but the fact is that there is a difference. A subscription is usually considered to be goods or services sold on a set schedule, for example on a monthly basis. A recurring payment is however more flexible, although not a one-time transaction, for example when refilling your public transport card on an irregular basis depending on how long the amount you paid is sufficient until you need to top up.
However, the convenience for consumers and companies is apparent and at Arvato we are helping an increasing number of businesses to offer subscription payments and recurring payments to their customers.
Why you will benefit from using this product
For consumers, the convenience and simplicity are highly appreciated, but for companies, there are obvious benefits as well: less administration and satisfied customers are staying longer and hence become more profitable. By offering a contemporary and increasingly popular payment method, you will be perceived as modern and up-to-date.
At Arvato, we are always striving at offering you the very best billing solution for your business, and hence we offer and tailor many different solutions on subscriptions and recurring payments, but these are the most common alternatives today: