4 Best Recurring Payment Apps to Manage Subscriptions and Recurring Payments

Being a subscription business owner, you must have hundreds of things to focus on for creating better deals for customers and generate revenue. In such a scenario, you need a defined process and efficient technology support to increase your net worth. Here’s is when you encounter questions like:

  1. How to manage subscriptions and users consistently
  2. How to process recurring invoices and subscription charges without errors
  3. How to automate savings from each billing cycle and track with accurate data and analytics
  4. How to perform budgeting and optimize subscription costs to benefit both customers and the business

If you are juggling with these above set of questions, you will find solutions using software for recurring transactions that manage your subscriptions from start to end.

This blog is the ultimate guide for you to learn about the best recurring payment apps in the market for tracking and managing subscriptions.

Through this guide in 15-18 minutes, you will gain a detailed understanding on:

  • The Best recurring payment apps for efficient tracking and management of subscription services (+ examples)
  • Steps to decide the best recurring payment app for your subscription business
  • How using recurring payment apps can benefit your business

So, are you ready? Let’s get started.

4 Best Recurring Payment Apps for Your Subscription Services [Pros & Cons + Examples]

Below listed are the 4 best recurring payment apps that you may need to automate your business.

Logo Recurring Payment App Number of Users Ratings as per Capterra & G2
FacilePay logo 1.76K+ NA
33K+
4.5+
rated on Capterra
4.5+
rated on G2
25K+
3.5+
rated Capterra
3+
rated on G2
75K+
3+
rated on Capterra
4.5+
rated on G2

We just saw the top four recurring payment apps. Let’s discuss each application for automatic payments in detail to help understand which application works best for you.

1. FacilePay – Accept Payments From Anywhere at Anytime

FacilePay is one of the top recurring payment apps having 100,000+ downloads on PlayStore and has 4+ ratings on both the app stores. This app works with the Stripe payment gateway which makes it highly secure with stringent compliance standards. There are more than 135+ currencies that FacilePay supports for accepting recurring payments.

With 1.74K users managing recurring invoices and payments, this app can manage POS and recurring payments for popular subscription services. It is a budgeting app that manages your payments and enhances your profits. All you need to pay for this one of the best recurring billing software is a 1.25% per transaction fee. Isn’t it amazing?

You can use FacilePay if you are

  • Small business and looking for an easy-to-use payment solution for processing recurring invoices
  • Budget-friendly solution to accept payments
  • Looking to track transactions with a detailed reporting system
  1. Recurring billing and payments
  2. An instant online payment solution
  3. A multi-currency support system
  4. Hassle-free invoice management
  5. Item management
  6. Shareable payment links

Let’s understand some of the pros and cons of using FacilePay.

Pros Cons
  • FacilePay is an easy-to-use application for accepting recurring payments with no complex programming or setup system.
  • You can gain real-time insights about your net worth and account based on recurring transaction data.
  • Using FacilePay, you can accept payments in any method or mode such as credit cards, debit cards, ACH transfers, and online payments.
  • You don’t have to pay anything to sign up and set up recurring transactions.
  • You will be charged a nominal 1.25% transaction fee on each payment using this app.
  • FacilePay follows a flat fixed rate pricing structure that may not work for large businesses with multiple subscription plans having different customizations.

Which Businesses Use FacilePay?

  • Hawaiian Luau

    Hawaiian Luau is a catering service provider with around 15-20 delicious Hawaiian cuisine dishes on its menu. These tasty dishes range from $7 to $20 to give an affordable royal luau or feast to their customers. They used to accept cash and card payments. People don’t carry much cash nowadays and even if they do, they don’t have change. This wasted a lot of time. This is where FacilePay came into the scene.

    Using FacilePay, they didn’t need a card reader for this payment app. The company just has to enter card details themselves or use a smartphone camera enough to scan the card. Another cool feature is tapping the PayWave/PayPass logo on the back of an NFC device. It takes less than 30 seconds to charge a card. This saves a lot of time and effort.

  • Beach Resort in Thailand

    This resort used to accept online and offline payments. The customers could pre-book the villa or stay. However, they had to pay at the hotel front desk when it came to activities. This meant cash payments. People didn’t carry the required cash, and credit card payments were expensive to the hotel owner.

    With FacilePay, they could manage payments via credit cards without spending a lot on transaction fees. The company used FacilePay as it is an mPOS system as well as an app accessed via smartphone with several added features like online payments and items management.

    In fact with FacilePay, the company created and sent professional invoices in seconds and got payments made directly inside the invoice.

    Here’s one of the top testimonials from the client using FacilePay.

testimonials

Source: FacilePay

Accept Payments Anywhere

Download the FacilePay Application Today

  • Create Invoices Instantly
  • Automate Recurring Payments
  • Generate Payments Links

2. Square – Accepts Payments Securely

Square is a financial services application that helps small businesses automate their invoicing processes. You can use it as your invoicing software and send out recurring invoices automatically with the payment link. This will allow you to send out timely invoices and receive the payments within the set period. For every transaction via Square App, you will need to pay a flat fee of 3.5% + 0.15 cents.

Pros Cons
  • Use Square to complete credit card transactions online, in your brick-and-mortar store, and on your mobile device when you’re on the go.
  • Don’t have to worry about figuring out how much you are paying in credit card processing fees. It’s the same flat rate no matter what type of card your customer uses.
  • Square offers free POS apps that can be downloaded onto iOS and Android smartphones and tablets. The free, user-friendly app has an offline mode, making it suitable for both mobile and in-store sales.
  • Square makes it easy to send custom invoices from your POS system on mobile devices or from your laptop to customers’ inboxes.
  • Your customers won’t need to add their bank account details as it is automatically saved with proper security measures.
  • Square doesn’t offer lower processing fees until you reach $250,000 in annual sales.
  • High-risk businesses and merchants selling prohibited items, such as online gambling, illegal goods, age-restricted items, and credit counseling services can’t use Square.
  • Square’s customer support is largely online tutorials and online chat. Chat response times typically are quick, but it can take time to get help for major issues.

Which Business Uses Square?

  • Son of a Sailor

    Son of a Sailor is a gift shop specializing in handmade jewelry by owners Jessica Tata and William Knopp. Made in Austin, Texas, these handmade goods put an emphasis on the design elements of color, pattern, and geometry and how they can be applied to materials with a rich history.

    However, to upscale their revenue, they started using Square. The customer can set up their account and enter the payment details on the website. The payment will be automatically deducted at the scheduled date and time. This has helped generate more subscriptions and increase its revenue.

    Here’s the feedback of Square from Son of a Sailor.

feedback from Son of a Sailor

Source: Square reviews

3. Braintree- Increase Sales and Prevent Fraudulent Transactions

Braintree is a popular web and mobile payment system devised for the eCommerce industry. You can integrate this recurring payment app into your digital subscriptions app and allow customers to complete their payments. It can handle millions of transactions in a go.

Braintree supports over 130 currencies, has a huge customer base, offers custom invoices, and helps send payment information by the customer for timely payments.

Pros Cons
  • Braintree’s rates are competitive considering the company has additional monthly fees on top of its per-transaction rate.
  • Braintree doesn’t charge additional monthly fees, PCI compliance fees, or minimum transaction fees.
  • With Braintree, you get standard and advanced levels of fraud protection to help you identify and react to potential threats.
  • In Braintree the Account Updater, will automatically update eligible, enrolled card details to help reduce preventable declines.
  • Provides a real-time view into your billing cycle to determine opportunities and risks
  • Most of the complaints claim support service is unresponsive, with many waiting several weeks for issues to be resolved
  • Setup is quite challenging and there is not a seamless migration from existing payment systems

Which Businesses Use Braintree?

  • Animoto

    Animoto is a video creation platform that depends on the subscription service. When there are unlimited subscriptions to the platform, they make a profit. Increased renewals guarantee retention, which results in profits.

    With Braintree as their payment partner, the business was able to automate savings and ensure more subscriptions. The customer could store the credit card information securely and automate payments. Here’s the review from Jordan Brough – Senior Analyst Developer from Braintree.

  • Jordan brough

    Source: Braintree

  • Flaming Licks

    Flaming Licks provide subscription boxes to their clients. It was important for the business to increase their renewals and ensure users don’t cancel subscriptions. The company adopted Braintree, which allowed them to automate payments and increased renewals. The ease of Braintree’s payment for a subscription service allowed users to cancel unwanted subscriptions while renewing the ones they wanted.

4. GoCardless

GoCardless is an online debit system that manages the billing and collection on your business’s behalf. The recurring payments option allows the setup of simple plans that can maximize subscription renewals. You can create the payment information that mentions the payment methods and start-end date for the billing. It can be easily integrated into mobile apps or websites.

Pros Cons
  • GoCardless is easy to upload project documents to the cloud through GoCardless capabilities.
  • GoCardless is easy for customers to make instant, one-off payments, and automated payments.
  • GoCardless collects direct bank payments; this means there are no card fees. And with all that wasted admin time cutaway, it is easy to save costs.
  • GoCardless provides an easy-to-use online dashboard that integrates with your software to manage everything in one place.
  • Payment works in cycles; hence, the first payment takes time as the cycle should be completed
  • Your clients may be charged overdraft or late fees if they don’t have sufficient funds in their account

Which Business Uses GoCardless?

  • Deloitte-Propel

    Deloitte-Propel is a cloud-based accounting solution to help small and medium businesses. It is a subscription service where the users have to pay for the services. With GoCardless recurring payments, they could send out automated invoices to their clients charging them for the services they have availed. This ensured quicker payouts and improved revenue for the clients.

  • Deel

    Deel is an online platform that helps businesses hire and recruit while keeping up with compliance. The platform’s customers have to pay a flat fee to Feel for the services. They had to manually enter the invoice details and send the payment information. They wanted a platform to manage the subscriptions and help them automate payments. GoCardless helped them handle payments and automate the invoices.

Let’s take a look at how you choose the best recurring payment app for your needs

How to Decide the Best Recurring Payment App? [A Step-Wise Guide]

The market is flooded with applications that can help with recurring payments. Choosing the one that meets your business needs and is aligned with your goals is important. Let’s discuss the steps you can take to evaluate the apps and select one.

1. Evaluate and Create a Checklist of Your Key Recurring Payment Requirements

What is the purpose of the recurring payment app? What do you need to ensure the subscription services are a success? Answering these two questions will help you choose the must-include features and determine the platform’s requirements.

Security is primary to a recurring payment solution. Let’s take the Netflix streaming services, for example. If their customers aren’t satisfied with the security, they will not punch in their account details, which can, in turn, lead to automated payments.

You should choose a platform that offers point-to-point encryption to safeguard against data breaches

Ensure the provider meets the defined payment industry standards

Features should be next on your evaluation list. You should know the features that can help you get more subscriptions for the platform. For example, will payment reminders help people connect to your digital subscriptions?

  • Direct Debit SCH is an important feature that allows you to get paid from the customer’s bank account without any mediator
  • Automated Level 3 Processing ensures that the customer need not fill out long forms and excessive details to get their subscriptions started

Support is equally important when you are looking for recurring payment services. The support should be strong and accessible.

  • In case you want to migrate to another platform, you should be able to do so without vendor lock-ins
  • The support service should offer instant help and provide you with necessary technical support

2. Analyze Your Unique Customers and their Needs

Having identified the requirements is the first part of the selection process. It is equally important to know your customers and check their requirements. Do they want a single place where they can manage all their subscriptions? Are they looking for specific payment methods? Do they want tools that can help save money?

Do they want you to send payment reminders? Every customer is unique. You might want to conduct a detailed analysis of the customer requirements before determining the features and services you wish to add.

For example, Netflix offers different features for premium users. Their payments are easy to access and require a low learning curve. Additionally, they are safe, meaning the payment details are secure. As a result, more users prefer automating payments on Netflix.

3. Consider Your Budget for the App

Pricing is pivotal in selecting the recurring payments application for your requirements. If the starter pack is priced at a high rate, you might want to consider something other than the application for your business requirements.

It is very important to have a defined budget in mind. This will help you know which application fits your price range. The budget also depends on the features you want to include in your application. Do you need budgeting tools? Looking for bill negotiation features?

These things will help you plan the budget and select the recurring payment app accordingly.

Now that we have seen how to select a recurring payment solution let’s discuss why your business needs one.

What are the Benefits of Using a Recurring Payment App?

Almost all eCommerce platforms that run subscription solutions offer recurring payment options. There are several benefits associated with this. It helps you get complete visibility into the revenue your business can generate.

Here we will discuss the top three benefits associated with recurring payment platforms.

1. Trackable Recurring Payments Making Subscription Management Simpler

When you invest in a recurring payment platform, you make it easier for your business to keep track of the payments. You are aware of the revenue your business is likely to generate month-on-month.

With a single app, you can track all payments from individual customers and businesses.

You won’t need to invest in separate resources for accounting and budgeting. At the same time, you don’t need to check different software to know the payables and customers who are leaving the system and understand the revenue you are likely to lose in the month.

This insight and real-time data allow you to take the necessary actions to prevent losing your customers.

2. Automated Process Minimizing Scope of Errors

If you were to complete the billing processes manually, you might make mistakes in the charges levied on the end user. If you forget to send the user reminders for payments or miss out on a particular invoice, you lose on the profits.

By automating the process, you will ensure that the payments are made regularly. For example, reminders must be sent a few days before the billing cycle. The end users will know when their subscription will end. This process will ensure you don’t lose out on your precious customers and improve the profits from the same.

3. Better Customer Lifecycle Management Helping Businesses Grow

The recurring payment apps contain detailed information regarding the customer’s latest purchases, the subscriptions they prefer, and what they tend to purchase regularly.
It helps segment similar types of customers together.

Let’s take the example of the Streaming Platform Disney+Hotstar. If more people prefer using this app on their mobile, they might want to segment these customers and define a plan specifically for the mobile device. Depending on the usage, the ability to pay for the monthly subscriptions, and other aspects, you can improve the plans and prevent people from moving away from your platform.

With a detailed insight into the customer lifecycle, you can increase retention and prevent churn. It will improve business profits and, eventually, growth.

Frequently Asked Questions About Recurring Payment Apps

  1. How to set up and automate subscriptions for customers using recurring payment apps

    • Go to the admin panel, and click on the products or plans that you wish to include in subscriptions
    • Select the payment schedule and offer a recurring payment option in it
    • Offer an opt-in button to allow customers to choose the recurring
    • Identify the schedules for the recurring payments
    • Setup the reminders
    • Offer multiple payment methods and storing options
    • Once you have completed this, preview your subscription
    • Click on save to set up and automate the subscriptions with recurring payment options.
  2. What security features to consider in a recurring payment app to avoid fraud?

    Here are some features that make the recurring payment app secure:

    • Two-factor authentication before setting it up
    • OTP to complete the automation setup
    • A message stating the following automation has been set up. This allows the user to cancel the subscription if they haven’t set it up
    • Scheduled reminders before the actual auto-debit to ensure the users have automated the payment.
  3. What are the mandatory features of a recurring payment app to be considered by every business?

    You should include the following features to your recurring payment application

    Feature Description
    Pause the Plan The user should be able to freeze the payment in the particular billing cycle if they don’t want to continue the subscription
    Payment Deferment In this case, the customer should be able to defer or avoid the payment in the first billing cycle. This will be important for apps where the first billing cycle is offered for free
    Change Billing Dates Customers may want to realign the billing date to manage their spending. The recurring payment app should make an allowance for the same.
    Advance Cancellation If the subscriber doesn’t want to continue with the plan, they should be able to discontinue it for the upcoming month
    Service Fees The payment app should support the business when they charge late fees, cancellation fees, etc.
    Push Notifications Whether the app wants to send an alert regarding a new feature update or a payment, there should be a provision for the same.

Manage Your Subscriptions and Recurring Payments with the Best Recurring Payments App

Recurring payments can help automate the billing cycle and give businesses a bird’s eye view into their revenue cycle. It will help them collect money from the customers, offer plans that resonate with the end users, and improve the retention rate.

You get a detailed understanding of your profits and likely attritions in the upcoming cycle. This data can be used to create campaigns and sales letters to ensure that your customers don’t leave the business and improve your sales.

You need to choose the recurring payment solution that best fits your requirement. Identify the most important features, discover where and how you need the payment solution, and choose the provider that fits your description.

As an upcoming and highly efficient recurring payment application, FacilePay offers free trials and cost-effective transactions. Take a platform demo to understand why it is a good choice for your business.

Rakesh-patel

Written by

Rakesh Patel

Rakesh Patel is the Founder and CEO of Facilepay Technology. He has 28 years of IT experience in business strategies, operations and information technology. He has expertise in various aspects of business like project planning, sales, and marketing, and has successfully defined flawless business models for the clients. A techie by mind and a writer at heart, he has authored two books – Enterprise Mobility: Strategy and Solutions and A Guide To Open311.

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