International Recurring payments (How We Handle It for You) --

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

1. Staying up to date in local tax laws and the regulations for transactions
2. Making it really easy for customers to make the first purchase as well as sign up for recurring payment
3. Ensuring each subsequent payment goes through

While this may sound simple, there's a plethora of factors to consider for achieving those three goals including:

• Rates of currency conversion
• Preferred payment types
• Payment processing
• The tax collection and remittance for each country, state, territory and so on.
• Payment failure handling
• Fraud prevention
• Management of subscriptions
• Site translations
• Chargebacks
• Dunning process
• and many and much more.

Most recurring payment providers only help you with a few of these areas and leave the remainder for you to work out. For example, some payment solutions will assist you in processing transactions in foreign currencies, however they won't assist you with paying taxes for those countries.

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

•   Collects and pays sales taxes (including GST, VAT as well as GST.) on behalf of you
•   Keeps up to date with local laws and regulations
•   Lowers the chance of churn through active payment retries as well as customer alerts
•   makes it very simple for consumers to purchase
•   manages your recurring payment for you
•   Offers all the features for one flat rate

What It Means to Have as Your Merchant of Record

The Merchant of Record (MoR) is a business which sells products or services to the buyer. The MoR is responsible for every aspect of a transaction including collecting and processing information about payment including security, taxes and compliance and audits. Chargebacks, audits, and so on. If there is a problem or is not done correctly If something goes wrong or is done incorrectly, the MoR can help you in resolving the problem on behalf of you.

Companies can act as their own MoR and handle all of the above internally, or outsource the entire process to us, and we assume full responsibility on each transaction. As the MoR for your company, you are in charge of the product/service, shopping experience, as well as the branding -- we handle everything else, such as taxation, compliance with the law as well as credit card network approval rates, dunning and many more.

Let Handle the Collection and Remittance of Sales Tax and VAT

It used to be true that SaaS and software was free from tax regulations in many countries across the globe (or simply not a significant subject to audits). However, tax laws regarding digital sales are changing and being more strongly implemented.

Every country, state, province, territory, etc. that you do business with is governed by its own rules about the amount and the type of taxes to be collected, and the time when it needs to be paid. That's quite a bit to manage.

Note:.

In general, tax management worldwide involves using a processing platform as well as an application for tax compliance for calculating and collecting VAT and sales taxes for every transaction. Although some payment services pay taxes on your behalf however, you'll be accountable for remitting these taxes. If you do not pay the correct amount of taxes, you may end up owing thousands of dollars in interest and penalties. The process of figuring out how you pay taxes in each jurisdiction can be very tedious and usually requires a group of accountants and tax professionals.

When is your MoR We collect and pay taxes on consumption (including GST TVA, SST, etc.) each time you make a purchase and prepare the tax returns required for your benefit.

Automatically calculates and applies the tax-related charges to the cost at the time of checkout. Additionally, we support tax-free transactions and other special cases.

Effortlessly Stay in Compliance with Local Laws and Regulations

Just like taxes, each country, state, territory, etc. additionally has their specific laws and rules for how recurring transactions take place. For example it is the Reserve Bank of India limits automatic recurring payments to Rs15,000 INR. If the amount of a transaction is greater than this amount, the user has to manually accept the transaction using another factor of authentication (AFA) for example, single-use password (OTP). To comply with this RBI regulations, you have to file an e-mandate detailing the type of AFA you'll be using.

This is just one example of the types of rules you must consider when conducting business globally.

Staying up to date with the regulations in each local area can be time-consuming as well as cost a lot. If you do not have the proper processes put in place, you'll never be able to collect payments. Some payment platforms will aid you in keeping abreast of local laws and regulations by notifying you if they learn about any new regulations or laws. Your company is in the end accountable for being aware about and following all laws and regulations.

However, for our clients, this shouldn't be an issue since as the MoR for you We are responsible for adhering to the local laws and regulations for transactions. Our experts in legal matters remain up-to-date with all relevant legalities and make sure that all procedures are in place for taking the payments.

Fully compliant with EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). Additionally, we renew our level one accreditation (which is the highest-level that is possible) in accordance with an annual certification to the Payment Card Industry Data Security Standard (PCI DSS) each year.

Reduce Involuntary Churn with Automatic Retries on Payments and Customer Notifications

As involuntary churn is among major reasons businesses that use subscriptions lose clients, many companies have an automated system to retry failed payments or notifying the customers about failed payments. This is a great place to start, but the next step is to notify the customers about payment types due to expire prior to the payment and to monitor several times after a failed payment. However, it can take several hours of staff time and energy to manage these processes.

 This is why we handle every payment error and notifications for our customers.

It sends email reminders to the cardholders whenever their card is due to expire. This way, they can update the data beforethe card payment goes through. Additionally, the system automatically attempts to retry failed payments. If the payment continues fail, will immediately notify the user. Also, you can have us send out reminder emails two five, seven, 14 and 21 days following the date that their payment method does not work. In our experience, these alerts and reminders can significantly decrease the level of uninvoluntary the churn.

During this time the customer's services won't be affected. In the event that the subscription is continued your customer is less likely to let their service lapse, and is more likely to take the time to update their information.

You can also choose to stop rather than end their service if they fail to update the payment information. This will allow the customer to resume their service without having to go through the process of having to re-enter their payment information.

Create a streamlined process for customers to buy with preferred Pay Methods, Localized Transactions Translates, Payment Methods, and Much More

In the process of purchasing, friction could cause businesses to attract smaller numbers of customers than they would have. For customers who are international customers, there could be many causes of the friction that comes with payment. For example:

• You don't offer the payment method they prefer
• The text at checkout isn't in a language they understand
• It's not listed in the local currency.
• It's declined or can take too long to finish

 assists you in overcoming the challenges of HTML0 through:

• Accepting many different payment methods (and managing these choices so that transactions are swiftly authorized)
• The translation of your payment page(s) into a variety of languages
• Converting local currency prices into foreign exchange

This is covered in greater detail in the following sections.

Preferred Payment Methods

Payment methods vary and are accepted in different nations. If you do not offer the types of payments that specific customers have a preference for and aren't converting them to customers. That's why it's important to make sure that your solution can support all the kinds of payments your target customers are most familiar with. But, most international payment solutions will be very limited in the types of transactions they can accept.

For example, some payment service providers will only accept debit transactions. If your target customers are used to paying with debit or credit card (e.g., PayPal) it could cause a problem.

If you are looking to accept payments from outside the country it is also necessary to be aware of the different kinds of credit card types used in various countries. For example, while MasterCard and Visa credit cards are most commonly utilized by people in the United States, UnionPay is preferred in China.

In reality, integrating or managing the most popular payment options can be more difficult than adding their logo to your checkout screens. Every card issuer has its own tolerance levels for fraud and chargebacks. They also have different rules regarding how transactions take place. If you're not in compliance to these rules, the card network may stop authorizing payments altogether.

is also compatible with many popular debit and e-wallet methods including:

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

In addition, credit card companies are more likely to accept locally-processed transactions when the bank of the buyer and the seller are both in the same country (for instance, a purchaser located in Germany purchasing from a company that is also located situated in Germany). works with multiple banks that acquire transactions across the globe and is always working to expand. Because we offer our services to you on behalf of a MoR the majority of your business's transactions will be processed locally. This means that more payment are accepted.

Automatic Currency Conversions, as well as Language Translations

People are more likely to be satisfied with a checkout service that is offered in their own language and currency. If you've never changed the text of your checkout or converted your prices to the local currency it's likely that you'll lose prospective clients.

 By using this tool, you are able to transform your shopping cart's contents into several languages. You can also 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 an option menu.
2. Lock the language and will choose the language automatically depending on the location of the buyer.

You will also have two options for currency conversions:

1. Create your own prices for every currency. Our team can assist you in determining what the fix price is.

If you opt to let convert product prices for you, we match with the standard format of the price. For example, if your initial price is $19.99 when the conversion in Euros will be EUR20.29 It would be changed to EUR20.99.

Create Your Own Subscriptions and Control the Rest

provides all the tools you need to manage and create different types of recurring online payment. Here are a few examples of of recurring payments you can handle :

• Trial periods for free with or without gathering payment information prior to the trial.
• Subscription payments that are prorated
• Flexible billing intervals for bill payments
• Paused subscriptions
• Upgrade renewals
• Prepaid recurring bill
• A subscription is included with one-time purchase when you sign up
• and more...

It's simple to create virtually any kind of subscription in only a couple of clicks. It is possible to set up the majority of subscriptions without writing programming, however you could make more sophisticated subscription logic via our API and webhooks library.

All-in-One Pricing (No Hidden Fees)

Many payment system providers will set a price base for each transaction and then charge extra for each additional option (e.g. access to global card networks, subscription logic that is specialized or.). These kinds of prices make it challenging to figure out exactly what you'll have to pay. This can make it difficult to expand globally when your business expands because the cost will continue to rise as you require new capabilities.

 We don't add any additional cost for every feature. Instead, our team will come up with a basic, flat-rate price that gives users access to each aspect of . Your price is based on the volume of transactions you make , and you'll only be charged for transactions that take place.