• Home
  • Contact
Saturday, May 13, 2023
www.mojolin.com
  • Technology
    • Apps
    • Social Media
    • Gaming
    • Graphics
    • Security
    • Troubleshoot
    • UX/UI
    • Web
  • Business
    • Accounts
    • Advertising
    • Banking
    • Debt
    • Finance
    • Investment
    • Marketing
    • Loans
  • Edu
    • Assignments
    • Careers
    • Jobs
    • Resume Tips
    • Science
    • Student Loans
    • Study Abroad
    • Teaching
No Result
View All Result
  • Technology
    • Apps
    • Social Media
    • Gaming
    • Graphics
    • Security
    • Troubleshoot
    • UX/UI
    • Web
  • Business
    • Accounts
    • Advertising
    • Banking
    • Debt
    • Finance
    • Investment
    • Marketing
    • Loans
  • Edu
    • Assignments
    • Careers
    • Jobs
    • Resume Tips
    • Science
    • Student Loans
    • Study Abroad
    • Teaching
No Result
View All Result
Mojolin.com
No Result
View All Result
Home Business Banking

10 Factors That Affect Subscription Payment Services

10 Factors That Affect Subscription Payment Services
0
SHARES
51
VIEWS
Share on FacebookShare on Twitter

In the last seven years, the subscription industry has miraculously grown by 300%. While the subscription industry is expanding at a rapid pace it is still considered a high risk industry. This is due to the various factors involved in subscription payment services.

If you find yourself in the recurring revenue industry, you’re probably aware of some of the challenges you face when starting a subscription service. Unfortunately, payment processing can be one of the biggest hurdles you’ll encounter. To make it easier for you to understand, we’ve compiled a list of the top ten biggest factors that affect subscription payment services.

1. The Subscription Industry is High Risk

Due to a variety of factors, the subscription industry is considered high risk. High risk businesses have different relationships with payment processors, as most typical payment processors will not take on risky businesses. As the industry is high risk, subscription businesses need to use high risk payment processors instead of just any payment service, such as PayPal or Stripe.

2. Very Vulnerable to Chargebacks

The subscription business is highly vulnerable to chargebacks, which affects choices in subscription payment services. Typical payment processors do not want to take on businesses that are chargeback vulnerable, as it can affect their relationship with banks. Reputable high risk payment processors/subscription payment processors are equipped to help manage chargebacks.

3. Fraudulent Charges Mar the Industry

Fraudulent charges are similar to chargebacks in nature. The subscription industry is highly vulnerable to them, which deters payment processors from taking on subscription businesses. You can find high risk subscription payment services that will take on your business, even with the risk of fraudulent charges.

4. Business Owner Credit Score is Low

A credit score can affect whether a payment processor will take on your business or not. Some companies will not accept businesses with little or no credit score. There are reputable high risk payment processors, that will take on your subscription business – even if you have little or no credit score. As long as other aspects of your business are in place, PaymentCloud will partner with banks that they know will accept businesses with a poor/no credit score.

5. Blacklisted by a Previous Payment Processor

Being blacklisted by a previous payment processor you worked with can be harmful in finding a subscription payment service. As the subscription industry is already high risk, being blacklisted can make it challenging to find a payment processor that will take on your business. While this can affect your ability to find credit card processing, there are high risk payment processors that will take on your business–you just need to find the right one.

6. New Businesses Have Hiccups

Another factor that affects subscription payment services is being a new business. With no online presence, business credit score, or customers, it can be hard to find the right payment processor for you.

7. Refunds Undermine the Business

Refunds affect subscription payment services just like chargebacks and fraudulent charges do. Businesses with high vulnerability for refunds are considered high risk, and can deter typical payment services from taking on the business.

8. Negative Perception of Industry

This factor is one that is quite unique to the subscription industry. There is a somewhat negative perception of the industry, as many consumers may have accidentally signed up for a subscription. Due to this, consumers may feel like subscription businesses, in general, are scams. Part of this problem can be related to billing practices such as negative option billing that recur without the need for customer confirmation.

The negative perception of the industry can affect subscription payment services. To mitigate this risk in your business, ensure that your policies and straightforward and clear. If your customers know exactly what they are signing up for, you shouldn’t have a problem.

9. Compliance, Rules, and Regulations

To run a successful subscription business, you’ll want to make sure you are fully compliant with all regulations. As subscription businesses are built on an automatic periodic renewal, any pause or delay in receiving a product can cause customers to opt out of the business. A reputable subscription payment service will ensure that you are compliant with all regulations. There are plenty of online tools to help you understand the regulations for your business.

10. Online Credit Card Processing

Running a successful subscription industry is dependent on successful credit card processing. If credit card payments cannot go through, it will be challenging to be successful, as monthly renewal is typically tied to an automatic credit card payment. Subscription payment services need to ensure that they are fully equipped to support both credit and debit cards, nationally and internationally, and you need to ensure that you are choosing a payment service with foolproof credit card processing.

While it may seem that there are a variety of factors affecting subscription payment services, it’s good to know all of them upfront. Now that you know what you’re dealing with, you’re fully prepared to pick a subscription payment processor that will allow you to grow and scale your business rather than focusing on payment processing.

Next Post
Great Games to Play This Weekend

Great Games to Play This Weekend

Please login to join discussion

Popular News

  • 7 Ways To Save Money On A Tight Budget

    7 Ways To Save Money On A Tight Budget

    0 shares
    Share 0 Tweet 0
  • What Were The Best Mobile Apps from 2019?

    0 shares
    Share 0 Tweet 0
  • Blockchain technology for the automotive industry – Is it a good idea?

    0 shares
    Share 0 Tweet 0
  • Successful At Essay Writing

    0 shares
    Share 0 Tweet 0
  • Muay Thai Fitness Business In Thailand

    0 shares
    Share 0 Tweet 0
  • Get It Started: The 5 Best Loans To Finance Your Dream Restaurant Business

    0 shares
    Share 0 Tweet 0
  • The React Native Approach Is Going To Be A More Preferred Option For 2018

    0 shares
    Share 0 Tweet 0
  • 4. Why Correct Study Skills Are Essential for Students?

    0 shares
    Share 0 Tweet 0
  • How to Engage Learning Participation

    0 shares
    Share 0 Tweet 0
  • The Responsibility of School Bus Driver

    0 shares
    Share 0 Tweet 0

Categories

  • Accounts
  • Advertising
  • Apps
  • Banking
  • Business
  • Careers
  • Debt
  • Edu
  • Finance
  • Gaming
  • GK
  • Investment
  • Jobs
  • Loans
  • Marketing
  • Resume Tips
  • Science
  • Security
  • Social Media
  • Study Abroad
  • Teaching
  • Technology
  • UX/UI
  • Web

Tags

AI Amazon AngularJS App developers automation business car and block chain credit card credit card eligibility cyber security debts developers eBay EMI Calculator experts Flutter app development framework growth hire the best app developer icici credit card offers IT JavaScript local seo service marketing mobile app design company mobile applications mobile UI framework Flutter orchestration PNB Home Loan product React Native app development services service Technological Trends for 2018 Top Cashback Credit Cards in India Uber wishfin
  • Trending
  • Comments
  • Latest
Confidence Is The Key To Success!

Confidence Is The Key To Success!

June 23, 2020
How To Run Windows Apps On Your Chromebook Without Using CrossOver

How To Run Windows Apps On Your Chromebook Without Using CrossOver

June 23, 2020
Google Releases Beta Version of Flutter Mobile App Development Tool

Google Releases Beta Version of Flutter Mobile App Development Tool

June 23, 2020
How Fashion Designers Can Extend Their Educational Process?

How Fashion Designers Can Extend Their Educational Process?

June 23, 2020

0
The Responsibility of School Bus Driver

The Responsibility of School Bus Driver

0
Vocational Training for the Disabled

Vocational Training for the Disabled

0
The Daunting Tasks to Overcome When Your Business Size Is in Transition

The Daunting Tasks to Overcome When Your Business Size Is in Transition

0

August 22, 2022
3 Construction Tech Trends To Watch In 2021 and Beyond.

October 18, 2021
5 Mistakes That Many Traders Make

5 Mistakes That Many Traders Make

July 22, 2021
Can you Train For Sports Betting?

Can you Train For Sports Betting?

January 18, 2021

Archives

  • August 2022
  • October 2021
  • July 2021
  • January 2021
  • June 2020
  • January 2020
  • November 2019
  • October 2019
  • September 2019
  • July 2019
  • June 2019
  • May 2019
  • February 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • Home
  • Contact

All Rights Reserved © 2017

No Result
View All Result
  • Home
  • Contact

All Rights Reserved © 2017

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In