SaaS Billing for SaaS Solutions Providers |
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Subscription billing and recurring payments are integral to SaaS billing. Our unique payment processing solution for SaaS billing gives you:
SaaS Billing Unlimited Flexibility for Recurring Payments Unlimited SaaS billing plans are included with every payment processing account. Endlessly flexible SaaS billing options are quickly created and automatically managed based on duration, frequency and usage. Single or multiple SaaS solutions are easily accommodated. Protect SaaS Billing Cash Flow SaaS solutions providers are vulnerable to revenue leakage of 5-12% during each recurring billing cycle. Loss of revenue occurs when the card on file used for recurring SaaS billing is declined. Declines happen for many reasons, including card upgrades, new issuance of cards due to security breaches, expiration of cards, and lack of available funds on a card. Payment processing technology retrieves updated card information from customers’ issuing banks, updates billing records within the SaaS solution provider system, and resubmits SaaS billing with the updated information. As a result, 50-75% of declined SaaS billing transactions are transformed into authorized recurring payments, boosting income from each recurring billing cycle and protecting income. Automatic account updating for recurring billing can be combined with a recurring billing transaction recycling. When a credit card is declined because it is over limit, the transaction will continue to be worked, based on the internal rules, for up to 15 days to receive an approval. The system monitors the card and as soon as there is enough credit available, the SaaS billing transaction is automatically submitted for authorization and payment. This procedure happens without merchant or customer intervention. Increase Customer Retention with Dynamic SaaS Billing Descriptors Many SaaS solutions providers have multiple products or recurring payment plans, each with a different name. Descriptors are what customers view on monthly card statements as the description of the purchase. Unlimited dynamic descriptors are included with every SaaS billing payment processing account. By displaying a descriptor specific to the product, consumers immediately know what was purchased when SaaS billing appears on their card statement. Chargebacks are avoided, customer service calls are reduced, and customer retention is increased. SaaS solutions providers can also associate a unique customer service number with each product. Customer service calls can be answered with the name of specific SaaS solutions which are familiar to the customer, maintaining the customer’s “comfort level” from the beginning of the call. Safeguard Security with SaaS Billing Tokenization SaaS billing uses tokens rather than card data for recurring payments. Tokenization ensures safe and secure SaaS billing payment processing by eliminating the risk of storing card information on SaaS solutions providers systems. No card data is stored by the SaaS solutions provider. Card data submitted to the payment processor is encrypted and stored, and a token is assigned and returned to the SaaS solutions provider’s system. Recurring payments are processed using the token. This helps cover PCI compliance requirments by transferring liability from the SaaS solutions provider to the payment processor. Reduce SaaS Billing Payment Processing Expenses SaaS solutions providers increase security and reduce operating expense by connecting directly with the front/back end payment processor rather than using a payment processing gateway. Direct connection gets rid of extra transaction fees charged by payment processing gateways which drive up costs unnecessarily. Direct connection also eliminates the gateway “middleman” as a potential point of failure in the payment processing system. Save Money on Payment Processing Interchange There are over 90 interchange levels set by the card brands. For SaaS solutions providers using a payment gateway, 12-30% of recurring billing transactions don’t get ‘qualified’ at the lowest possible rates because these rates are available only through direct connect to the payment processor. Connection directly to the payment processor means real savings on SaaS billing recurring payments interchange qualification levels which translate into big savings on payment processing fees. |