International Recurring payments (How we handle it for You) -

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

1. Staying current on local tax laws as well as transactions regulations
2. It is now simple for consumers to complete the first purchase as well as join for regular installments
3. Making sure that every subsequent payment passes through

Although this might sound easy but there are a myriad of factors to consider in order to accomplish those three objectives such as:

• Currency conversion rates
• Types of preferred payment
• Payment processing
• Tax collection and remittance for each region, country, state for each state, country, territory.
• Payment failure handling
• Fraud prevention
• Management of subscriptions
• Site translations
• Chargebacks
• Process of Dunning
• And there's and much more.

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

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

•   Collects and pays sales taxes (including GST, VAT, etc.) to you
•   Keeps up to date with local laws and regulations
•   Reduces churn with proactive payment retries and customer notification
•   Makes it really easy for customers to buy
•   manages your recurring payment for you
•   Provides everything at a single price

What It Means to Have as your Merchant of Record

A Merchant of Record (MoR) is the business entity which sells products or services to the buyer. The MoR is responsible for every element of the transaction, including gathering and processing payment details including security, taxes and compliance charges, audits etc. If there is a problem or is done incorrectly The MoR can help you resolve the issue for you.

Companies can act as their own MoR and handle all of this internally or they can transfer the entire process to us and allow us to be the sole responsible party on each transaction. If you are acting as the MoR for your company, you are in charge of the product/service, customer experience and brand We handle all the rest, including taxation, compliance with the law, credit card network approval rates, dunning, and more.

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

It was once the case that SaaS as well as software were not free from tax regulations in many countries throughout the world (or simply not a significant target for audits). Tax regulations for online sales are evolving and being more strongly applied.

Every country, state, province, territory, etc. in which you trade is governed by its own rules about the amount and the type of taxes that need to be collected, and the time when they must be payed. There's plenty to keep up with.

Note:.

The majority of the time, global tax management involves using a processing platform and the tax compliance software to determine and collect VAT and sales taxes for every transaction. While some payment platforms will pay taxes on your behalf, you'll still be responsible for paying the taxes. If you do not make the proper payment of taxes, you might end up owing thousands of dollars in interest and penalties. However, figuring out the best way to pay taxes in each jurisdiction is usually a lengthy process and typically requires a team comprised of accountants and tax specialists.

When is your MoR is due, we collect and transfer the consumption tax (including GST, VAT, SST, etc.) on every transaction. We also file all necessary tax returns for your benefit.

Automatically calculates and applies the tax amount to be included in the price at checkout. We also support tax-exempt transactions, as well as other unique cases.

Effortlessly Stay in Compliance with Local Laws and Regulations

Like taxes, every state, country, territory, etc. additionally has their own laws and regulations for how transactions that are recurring take place. For example, it is the case that the Reserve Bank of India limits automatic recurring payments to the amount of Rs 15,000 INR. If the amount of a transaction is greater than this amount, the user must accept the transaction using another factor of authentication (AFA) for example, one-time password (OTP). In order to be in compliance with this RBI regulations, you must file an electronic mandate that outlines the type of AFA you'll be using.

It is one of the many examples of different laws you need to be aware of when conducting business globally.

Being up-to-date with the regulations in each local jurisdiction can be time-consuming and expensive. If you're not using the correct procedures put in place, you'll never be able to accept payments. Certain payment services can help you stay on top of local regulations and laws by notifying you if they discover new laws or regulations. But, you are ultimately held liable for knowing about and observing all rules and laws.

However, for our customers, this is not an issue because, as the MoR for you, we assume full liability for ensuring compliance with local regulations and laws governing transactions. Our experts in legal matters remain up-to-date with every legal aspect and makes sure all the necessary processes are in place to collecting the payments.

Fully compliant with EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). In addition, we keep our level-one accreditation (which is the most prestigious level achievable) in accordance with the Payment Card Industry Data Security Standard (PCI DSS) each year.

Reducing Involuntary Churn by Automated Payment Retries and Customer Notifications

Since involuntary churn is one major reasons subscription-based companies lose customers, many companies have a system for automatically retrying unsuccessful payments, or for notifying clients of payments that have failed. This is a great place to start, but the following step is to notify the customers about payment types due to expire before the payment and to follow up repeatedly times after a failed payment. But, it will take several hours of staff time and time to keep up with these processes.

 This is why we handle any payment problems and notices for our customers.

Sends reminder emails to cardholders when their card is about to expire so they are able to update their data prior to whenthe card's payment is processed. Additionally, the system automatically attempts to retry failed payments. In the event that the transaction continues to not work, we will inform the client. It is also possible to remind them via emails every two three, five, seven 14 and 21 days after their payment process does not work. Based on our experience, these alerts and reminders can significantly decrease the level of involuntary churn.

While this is happening the customer's services won't be affected. By continuing the service it will make the client less likely to let the subscription lapse and more likely to make the effort to update their information.

It is also possible to stop rather than end their service if they fail to correct the information on their payment. This will allow the customer to resume their service without having to go through the process of onboarding again.

Make It Really Easy for Customers to Buy with Preferred Pay Methods, Localized Transactions as well as translations.

In the process of purchasing, friction may cause companies to take on more customers than they could. For international clients, there may be several causes for payments-related friction. For example:

• Don't provide their preferred payment method
• The checkout text isn't in a language they know.
• The price isn't listed in their local currency
• It's declined or is delayed to finish

 can help you conquer the challenges of HTML0 with:

• accepting a wide variety of payment methods (and managing those choices so that transactions are quickly authorized)
• Translating your payment page(s) to a range of languages
• Converting prices to local currencies

We will discuss this in more depth in the sections below.

Preferred payment methods

Different forms of payment are accepted in different countries. If you do not offer the types of payment that specific buyers are used to then you'll lose a lot of the customers to your service. That's why it's important to ensure that your payment system is able to support all forms of payment that your target customers are most familiar with. In reality, some international payment solutions will be very limited in the types of payments they support.

For example, some payment services will only support debit transactions. If your target customers use credit cards or e-wallets (e.g., PayPal) it could cause a problem.

Additionally, if you want to take payments from abroad it is also necessary to take into consideration the variety of credit cards used across different nations. In particular, although MasterCard and Visa credit cards can be commonly used in the United States, UnionPay is preferred 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 screens. Each card issuer has different tolerance levels for fraud and chargebacks, and has different regulations for how transactions take place. If you're not in compliance with these requirements, the card network may suspend the authorization of payments completely.

also supports popular debit and e-wallet payment techniques, such as:

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

Finally, card networks are more likely to authorize local-processed payments when both the bank that is the purchaser and seller's are located within the same region (for instance, a customer in Germany paying a business located from Germany). works with multiple acquirers across the world and will continue to expand. Since we sell for you as an MoR and your business is a MoR, more transactions will be processed locally, which means that more transactions are authorized.

Automated Currency Conversions, as well as Language Translations

People are more likely to trust a checkout experience offered in their language of origin as well as in their local currency. If you've never transliterated your checkout's text or converted the prices into local currency and currency, you're likely to lose potential customers.

 With , you can convert your shopping cart to various languages, and then change the price that customers see in local currencies.

For shopping cart translations, you can:

1. Allow each customer to choose their preferred language using the drop-down menu.
2. Lock the language and will automatically select the appropriate language based on the buyer's location.

There are two options for currency conversions:

1. Create your own prices for every currency. Our team can guide you on what your cost should be fixed.

If you opt to let convert product prices to match your needs, we will follow the general format of the price. Example: If your starting price is $19.99 when the conversion in Euros would be EUR20.29 then it will be converted to EUR20.99.

Modify Your Subscriptions, and let us Manage the Rest

The software provides the tools you need to set up and manage various types of recurring online payment. Below are some examples of the types of recurring transactions you can manage with :

• Trials for free or without gathering payment information upfront
• Prorated subscription payments
• Flexible billing intervals for bill payments
• The subscription is suspended
• Upgrade renewals
• Prepaid recurring billing
• Subscription bundled with a one-time purchase at sign up
• and more...

It's simple to setup virtually any kind of subscription in just a couple of clicks. The majority of subscriptions without writing codes, however, you may develop more complicated subscriptions with our API and webhooks library.

All-in-One Pricing (No Hidden Fees)

Many payment system providers will charge a base price per transaction. They then cost extra for each extra features (e.g., access to international card networks, special subscription logic and so on.). The pricing structure of this type makes it hard to determine what you'll be paying. This can make it hard to grow globally as your business grows because the cost will continue to rise as you require additional capabilities.

 We don't add any additional cost for every service. Instead, our team will determine a straightforward cost that grants the user access to all aspects of . The price you pay is determined by the amount of transactions the system handles  in a day, and you'll be charged when transactions are completed.