Razorpay, an online payment platform, has announced the launch of its flexible payment solution known as ‘recurring payments’ that opens the market for SaaS businesses. Now, SaaS businesses can accept recurring payments from India and abroad.
Here are a few benefits listed for ‘recurring payments” features:
- – The recurring payment feature auto-debits transactions from customer’s account with no need for any manual intervention from the customer.
- – It allows the companies to reduce significant hours in collecting of recurring invoices for online businesses.
- – It becomes easier for customers to schedule payments for products or services rendered by online businesses automatically.
- – It also increases the efficiency of payments systems.
Also, RazorPay API’s driven service provides greater control over payment collection by helping merchants charge customers in real time.
Payments mark the stunted growth for SaaS business. RazorPay’s recurring payments features goes a long way in solving the issues.
Here are the different approaches that SaaS business takes currently:
- – Use an international payment gateway for recurring transactions month-on-month.
- – Businesses opt for a payment model which has a 6 months payment plan or annual payment plan for easy collections.
SaaS businesses find extremely difficult to manage all the hassles that come up with the recurring payments from customers. With the integration, RazorPay offers developer friendly payment solutions.
Also, our clients can now avail seamless checkout experience for one time and recurring payments with a host of RazorPay’s payment options. The RazorPay integration can help Indian merchants to get paid faster.
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