International Recurring payments (How We Handle It for You) --

In managing international recurring payment, there are three overarching aspects to consider:

1. Being up-to-date in local tax laws and transactions regulations
2. Making it really easy for customers to make the initial purchase and sign up for recurring installments
3. Making sure that every subsequent payment passes through

While this may sound simple, there's a plethora of things to think about to achieve those three goals such as:

• Conversion rates for currencies
• Preferred payment types
• Payment processing
• The tax collection and payment for every region, country, state, etc.
• Payment failure handling
• Fraud prevention
• Management of subscriptions
• Translations of the site
• Chargebacks
• Process of Dunning
• Plus there's plus

The majority of recurring payment companies only help you with certain categories and leave the rest for you to determine. For example, some payment solution providers will help you process the payment in foreign currency, however they won't assist you with paying your taxes in those countries.

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

•   Pays sales tax (including GST, VAT and GST, etc.) for you
•   Keeps up to date with local laws and regulations
•   Reducing churn by active payment retries as well as customer alerts
•   makes it very simple 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

The Merchant of Record (MoR) is a business that offers goods or services to the buyer. The MoR is in charge of every element of the transaction, including the collection and processing of payment information as well as security, tax as well as compliance issues charges, audits and so on. If there is a problem or is done incorrectly If something goes wrong or is done incorrectly, the MoR is able to solve the problem on behalf of you.

Businesses can be their personal MoR and manage all of the above internally, or transfer the entire process to and let us take on full liability for every transaction. If you are acting as the MoR, you have control over your product or service, the shopping experience, as well as the branding and we take care of everything else, such as taxation, compliance with the law, credit card network approval rates, dunning rates and more.

Let the Collectors and Payment of Sales Tax and VAT

There was a time that SaaS and software was free from tax regulations in many countries across the globe (or simply not a significant subject to audits). But tax regulations regarding online sales are evolving and are being increasingly implemented.

Every country, state, province, territory, etc. in which you trade each has their own regulations regarding the amount and type of taxes that need to be collected, and the time when it needs to be paid. There's plenty to keep up with.

Note:.

The majority of the time, global tax management will require a payment processing platform and a tax compliance software to calculate and collect sales and VAT taxes on every transaction. Although some payment services collect taxes for you however, you'll be accountable for paying these taxes. If you don't make the proper payment of taxes, you may end up owing thousands of dollars in interest and penalties. But figuring out how to tax in every jurisdiction is usually a lengthy process and usually requires a group comprised of accountants and tax specialists.

When is your MoR, we collect and remit taxes on consumption (including GST and VAT as well as SST, etc.) each time you make a purchase and prepare every tax return required by you.

Automatically calculates and adds required taxes to the customer-facing price when they check out. Additionally, we support tax-free transactions, as well as other unique cases.

Effortlessly Stay in Compliance with Local Laws and Regulations

Like taxes, every state, country, territory, etc. also has its specific laws and rules for how transactions that are recurring take place. For example, the Reserve Bank of India limits auto-recurring payments to a maximum of the amount of Rs 15,000 INR. If the amount of a transaction is greater than the limit, the consumer is required to accept the transaction using another factor of authentication (AFA) such as an single-use password (OTP). In order to be in compliance with this RBI regulation, you also have to file an e-mandate which explains the kind of AFA you will use.

This is only one example of the kinds of rules you must consider when you are transacting internationally.

Being up-to-date with the laws of the respective local region can be a time-consuming process and expensive. If you do not have proper procedures implemented, you will not be able to collect payments. A few payment systems can aid you in keeping abreast of local regulations and laws in that they notify you when they discover the new rules or laws. Your company is ultimately held liable for knowing the laws and regulations.

However, for our clients, this shouldn't be an issue since as your MoR is our responsibility, we are fully responsible for adhering to local transaction laws and regulations. Our team of legal experts keep up-to-date on every legal aspect and makes sure all the necessary procedures are in place for making payment.

We are fully in compliance with the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). In addition, we renew our Level One certification (which is the highest level possible) with our certification under the Payment Card Industry Data Security Standard (PCI DSS) each year.

Eliminate Involuntary Churn through Automatic Retries on Payments and Customer Notifications

As involuntary churn is among of the primary reasons why subscription-based companies lose customers Many companies use systems for automatically retrying payment failures or informing customers of failed payments. It is an excellent starting point, however the next step is to notify the customers about payment types due to expire before the payment and to follow up multiple times after a failed payment. But, it will take several hours of staff time and effort to maintain these systems.

 That's why handles every payment error and notification for our customers.

It sends email reminders to cardholders when their card is due to expire. This way, they are able to update their data prior to whenthe card's payment is processed. Also, it automatically retries failed transactions. If the payment continues not work, we will inform the client. Also, you can remind them via email notifications two, five, seven, fourteen, and twenty-one days after their payment process fails. In our experience, the reminders and alerts we send out can significantly decrease the level of uninvoluntary the churn.

During this time your client's service will not be disrupted. If you continue to provide the service, the customer will be less likely to let the subscription lapse and more likely to take the time to update their information.

It is also possible to stop rather than end the service in case they fail to update the payment information. This allows customers to re-start their subscription , without the stress of re-onboarding.

Make It Really Easy for buyers to purchase using preferred Payment Methods, Localized Transactions as well as translations.

Friction at the purchase step can cause companies to capture more customers than they would have. For customers who are international clients, there may be a variety of reasons for the friction that comes with payment. For example:

• It isn't possible to offer them your customers their preferred method of payment
• The text at checkout isn't written in a language that shoppers understand
• The price isn't listed in the local currency.
• It is declined, or is delayed to complete

 assists you in overcoming the challenges of HTML0 with:

• The acceptance of a variety of payment options (and managing the choices so that transactions are quickly authorized)
• Translation of your checkout page(s) to many different languages
• Converting prices to local currencies

This is covered in greater detail in the following sections.

Preferred Methods of Payment

Different forms of payment are widely used in various countries. If you don't offer forms of payment that specific buyers are used to then you'll lose a lot of them to customers. This is why it's crucial to make sure that your solution can support all the types of payments that your target customers are most acquainted with. But, most global payment services will be very limited in the types of transactions they can accept.

In particular, certain payment providers exclusively support debit transactions. If your target customers are used to paying with debit or credit card (e.g., PayPal) This could be a problem.

Additionally, if you want to accept payments from outside the country, you also have to take into consideration the variety of credit cards used in different countries. For example, while MasterCard and Visa credit cards can be commonly employed in the United States, UnionPay is much more popular in China.

But, adding or managing the most popular payment options is more complex than simply the addition of their logos to your checkout screen. Each issuer of cards has their own tolerance levels for fraud and chargebacks and different rules for the way transactions are conducted. If you aren't in compliance to these rules and the network could suspend the authorization of payments completely.

Also, it supports the most the most popular payment methods including:

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

Additionally, the card network is more likely to accept locally processed payments where both the bank that is the purchaser and seller are both in the same jurisdiction (for example, a buyer located in Germany buying from a business also situated in Germany). Works with several acquiring banks across the globe and continues to expand. Because we offer our services to you on behalf of a MoR, more of your company's transactions will be handled locally which means more payments will be authorized.

Automated Currency Conversions, as well as Language Translations

Customers are more likely to believe in a checkout experience that's in their own language as well as in their local currency. So, if you haven't changed the text of your checkout or converted your prices to the currency of your local market it's likely that you'll lose prospective customers.

 By using this tool, you are able to transform your shopping cart's contents into various languages, and then change the price that customers see to local currencies.

For shopping cart translations, you can:

1. Let each buyer select their preferred language from a dropdown menu.
2. It will lock the language and instantly select the correct language in accordance with the purchaser's geographical location.

You will also have two options to convert currency:

1. Create your price in each currency. Our team can help you determine what the fixed price should be.

If you opt to let convert product prices for you, we match the general format of the price. For example, if your initial price is $19.99 and the conversion to Euros is EUR20.29, would change it to EUR20.99.

Customize Your Subscriptions and Let Control the Rest

provides all the tools you need to create and manage different types of recurring online payments. Below are some examples of of recurring payments you can manage with :

• Trials for free or without gathering payment information prior to the trial.
• Subscription payments that are prorated
• Variable billing intervals
• Subscriptions that have been suspended
• Upgrade renewals
• Prepaid, recurring billing
• Subscription bundled with a one-time purchase upon signing up
• And more...

It's simple to setup nearly any subscription scenario with just a few steps. You can set up most subscription types without any programming, however you could develop more complicated subscription logic via our API and webhooks library.

All-in-One Pricing (No Hidden Fees)

Most payment service providers charge a base price for each transaction and then cost extra for each additional feature (e.g., access to international credit card networks, special subscription logic and so on.). The pricing structure of this type makes it hard to determine the exact amount you'll pay. Additionally, it can be difficult to scale globally as your business grows because costs will increase as you need more options.

 We don't add any additional cost for every service. Instead, we work out a simple fee that will grant users access to each aspect of . The price you pay is determined by the volume of transactions you make  as well as you'll only be charged when transactions are completed.