International Recurring Payments (How we handle it for We Handle It for) --

If you are managing international recurring payments there are three main factors to be considered:

1. Being up-to-date on local tax laws as well as transactions regulations
2. This makes it simple for consumers to complete their first purchase, and then join for regular payments
3. Making sure that every subsequent payment passes through

Although this might sound easy however, there's an array of things to think about for achieving those three goals such as:

• Conversion rates for currencies
• Payment types that are preferred
• Payment processing
• Tax collection and payment for every nation, state, or territory for each state, country, territory.
• Payment failure handling
• Fraud prevention
• Controlling subscriptions
• Site translations
• Chargebacks
• The process of dunning
• Plus many plus

Most recurring payment providers will only assist 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 transactions in foreign currencies, but won't help you pay taxes for those nations.

In this piece We will explain what it means to be an Merchant of Record and how :

•   We collect and pay sales tax (including VAT, GST, etc.) to you
•   Keeps up to date with local laws and regulations
•   Lowers the chance of churn through proactive payment retries and customer alerts
•   Makes it really easy for customers to buy
•   Controls the recurring payments for you
•   Offers all the features in one price

What Does it Mean to Have as Your Merchant of Record

The Merchant of Record (MoR) is the business entity that sells goods or services to the buyer. The MoR is responsible for every aspect of transactions, from collecting and processing information about payment, security, taxes as well as compliance issues charges, audits etc. If anything goes wrong or is done incorrectly, the MoR will help in resolving the problem on behalf of you.

The company can function as its own MoR and manage all of the above internally, or transfer the entire process to us and allow us to take on full liability for each transaction. When is acting as the MoR, you have control over the service or product, checkout experience, and branding -- we handle all the rest, including taxes, legal compliance and credit card network acceptance rates, dunning and more.

Let us handle the collection and Remittance of VAT and Sales Tax.

There was a time that SaaS and software was free from tax regulations in many countries all over the world (or just not a major target for audits). But tax regulations regarding digital sales are changing and becoming more rigorously enforced.

Every country, state, province, territory, etc. that you do business with is governed by its own rules regarding the amount and type of tax that must be collected as well as the date the tax must be to be paid. There's plenty to manage.

Note:.

In general, tax management worldwide involves using a processing platform and an application for tax compliance to calculate and collect VAT and sales taxes for every transaction. Though some payment processors take care of tax collection however, you'll be accountable for paying the taxes. If you do not make the proper payment of taxes, you may be liable for thousands of dollars in interest and penalties. However, figuring out the best way to be tax-paying in all jurisdictions is usually a lengthy process and usually requires a group of tax experts and accountants.

When is your MoR, we collect and remit the consumption tax (including GST and VAT as well as SST, etc.) on every transaction. We also file every tax return required by your benefit.

automatically calculates and adds the tax amount to be included in the price when they check out. We also support tax-exempt transactions, as well as other unique cases.

Effortlessly Stay in Compliance with Local Laws and Regulations

Just like taxes, each state, country and territory. also has its specific laws and rules for how recurring transactions take place. In particular it is it is the case that the Reserve Bank of India limits the automatic recurring payment to 15,000 INR. If a payment is over this amount, the user is required to approve the transaction with the use of an additional factor authentication (AFA) like a One-time Password (OTP). In order to be in compliance with this RBI regulation, you also must file an electronic mandate that outlines the type of AFA you'll be using.

It is one example of the kinds of regulations you have to consider when conducting business globally.

Being up-to-date with the regulations in each local area can be time-consuming as well as expensive. If you don't have proper procedures in place, you won't be able to accept payments. Certain payment services can assist you in staying on top of local laws and regulations in that they notify you when they discover any new regulations or laws. But, you are ultimately responsible for knowing the applicable laws and regulations.

But for customers, this won't be an issue because, as your MoR, we assume full liability for adhering to the local laws and regulations for transactions. Our legal team stay up to date on all relevant legalities and make sure all the necessary procedures are in place for taking payments.

is fully compliant with the EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). We also renew 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 Retries to Pay and Notifications to Customers

Involuntary churn being one of the main ways subscription-based companies lose customers, many companies have systems for automatically retrying failed payments or notifying customers of failed payments. This is a great starting point, however the next step is to inform the customers about payment types due to expire before they make the payment, and then monitor repeatedly times following a failed payment. However, it can take many hours of employees and time to keep up with these processes.

 We handle every payment error and notifications for our customers.

Sends reminder emails to cardholders when their card will expire, so they are able to update their information beforethe card's payment is processed. also automatically retries failed payments. When the payments continue not work, we will inform the client. It is also possible to have us send out reminder email notifications two, five, seven, 14 and 21 days after the payment fails. We have found that these reminders and alerts could drastically reduce the rate of involuntary the churn.

In this period your client's service will not be disrupted. If you continue to provide the service, the customer will be less likely to let their subscription lapse and more likely to make the effort to correct their details.

It is also possible to stop rather than end the service in case they fail to correct the information on their payment. This allows your customer to restart their service without having to go through the process of re-onboarding.

Facilitate Customers to Buy with Preferred payment methods, localized transactions, Translations, and More

Friction at the purchase step could cause businesses to attract smaller numbers of customers than they would have. For customers who are international customers, there can be several causes for payments-related friction. For example:

• Don't provide your customers their preferred method of payment
• The message at checkout isn't written in a language that shoppers understand
• The price isn't listed in the local currency.
• It is declined, or takes too long to complete

 assists you in overcoming these obstacles with:

• Accepting many different payment methods (and managing these methods so that the transactions are quickly authorized)
• Translation of your checkout page(s) to many different languages
• Converting the price to local currency

This is covered in greater specific detail in the next sections.

Preferred payment methods

Different forms of payment are popular in different nations. If you don't offer forms of payments that specific customers have a preference for, you'll convert less of the customers to your service. It's the reason it's essential to make sure that your solution is able to support all kinds of payments your target customers are most acquainted with. But, most international payment solutions will be restricted in terms of payment they accept.

Some payment providers only accept debit transactions. If your target customers are used to paying with E-wallets or credit cards (e.g., PayPal), this will be an issue.

If you are looking to accept international payments You must also consider the variety of credit cards that are used across different nations. In particular, although MasterCard as well as Visa credit card are widely utilized by people in the United States, UnionPay is preferred in China.

But, adding and managing payment methods that are popular is more complicated than including their logos on your checkout screen. Every card issuer has its own tolerance levels for fraud as well as chargebacks. They also have different rules regarding how a transaction takes place. If you aren't in compliance with these requirements and the network could stop authorizing payments altogether.

is also compatible with the most popular payment techniques, such as:

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

In addition, credit card companies are more likely to authorize local-processed payments when the bank of the buyer and the seller's are located in the same country (for instance, a customer in Germany buying from a business located from Germany). works with multiple acquirers across the world and will continue to add more. Because we offer our services for you as an MoR, more of your company's transactions will be processed locally. This means that more payment will be accepted.

Automatic Currency Conversions as well as Translations for Language Translations

The customers are more likely believe in a checkout experience that's in their language of origin and in their currency. If you've never transliterated your checkout's text or changed your pricing to the currency of your local market and currency, you're likely to lose potential clients.

 You can also convert your shopping cart to several languages. You can also change the price that customers see into local currency.

For shopping cart translations, you can:

1. Let each buyer select their preferred language from a dropdown menu.
2. Lock the language and will automatically select the appropriate language depending on the location of the buyer.

You will also have two options to convert currency:

1. You can set your price in each country. Our team can help you determine what the fixed price should be.

If you opt to let transform the price of your products be done for you, we'll match with the standard format of the price. Example: If your initial price is $19.99 and the conversion to Euros would be EUR20.29 then it will be converted to EUR20.99.

Create Your Own Subscriptions and Control the Rest

It comes with all the instruments you require to set up and manage various kinds of online recurring payments. Below are some examples of of recurring transactions you can manage with :

• Free trial periods with or without collecting payment information prior to the trial.
• Prorated subscription payment
• Flexible billing intervals for bill payments
• Subscriptions that have been suspended
• Upgrade renewals
• Prepaid, recurring billing
• The subscription comes with a single purchase when you sign up
• Plus...

It's easy to set up nearly any subscription scenario with just a couple of clicks. It is possible to set up the majority of subscription models without having to write code, but you can also create more complex subscriptions using our API or webhooks library.

All-in-One Pricing (No Hidden Fees)

Many payment system providers will set a price base per transaction, and charge extra for each added feature (e.g., access to international card networks, special subscription logic, etc.). This type of pricing makes it challenging to figure out exactly what you'll have to pay. Additionally, it can be hard to grow globally as your business expands because costs will grow as you'll need to add more capabilities.

 doesn't charge extra for each service. Instead, our staff will work out a simple, flat-rate price that gives you access to every aspect of . The price you pay is determined by the amount of transactions you make  as well as you'll only be charged for transactions that take place.