Are you a Shopify merchant interested in selling subscription-based products or services? You may find accepting recurring payments with Shopify intimidating, but with proper knowledge, you can avoid challenges. This article is here to help you with Shopify Square integration and other solutions as well.
Recurring Payments Model
Think of the recurring payments model as a method to charge your customers regularly at specific intervals, usually monthly.
According to the SEO and publisher of Subscription Insider, the global automotive subscription services market is forecast to grow at a compound annual growth rate (CAGR) of 71% through 2022. So, it’s no wonder that the number of businesses jumping into this hot market is growing rapidly.
When it comes to recurring payments on Shopify, you can automate subscriptions at scale, streamline your recurring billing and invoicing, grow revenue, while minimizing churn. You can easily choose the most suitable strategy for your needs and apply a flexible subscription period, which can be days/weeks/ months/year, or select the custom option.
How to Accept Recurring Payments with Shopify
There is more than one option you choose to use for accepting recurring payments with Shopify. The right choice depends on your online business needs.
- Square for Recurring Payments on Shopify
With Square, you can get paid relatively quickly. Besides, Square allows you to handle your recurring billing while on the run as it offers a handy invoicing app.
- Stripe for Recurring Payments on Shopify
Stripe enables merchants to take one-time and/or recurring payments fast and easily. Customers can make payments using a card, through bank transfers, and/or other popular payment methods. Importantly, Stripe Recurring Payments is good for near-on any billing model. It’s designed to handle both per-seat pricing and metered billing without the need to write a line of code.
- Chargebee Recurring Payments on Shopify
Chargebee is developed with SaaS and subscription-based products and services in mind. You can seamlessly integrate Chargebee’s recurring payments platform with top payment gateways. As a result, you’ll be able to automate your payment collection and invoices for customers in any corner of the world.
No matter you’re looking to use Shopify Square integration or another recurring payment method on Shopify, you need to work with an expert payments company to grow your business. Thanks to the advanced, secure and cheap payment solutions from a reputable merchant processing company, you can offer the best to your customers and take your business to the next level with ease.
Recurring Payments with Shopify
There are various recurring payment methods that you can integrate with Shopify. Square is one of the options to use for your Shopify store. Consider your financial needs and make the right choice concerning recurring payments. You can do this by working with a respectful payments specialist in your field.
Author Bio: Content crafter Alex Wilmont has been active in the payments industry for over 15 years. He lives simply, gives generously and loves his 2 dogs. His mission is to enhance and innovate the fintech industry for years to come.