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

If you are managing international recurring payments, there are three overarching considerations:

1. Staying up to date on local tax laws as well as transactions regulations
2. Making it really easy for customers to make the initial purchase and enroll for monthly payment
3. Ensure that each payment after goes through

While this may sound simple but there are a myriad of variables to take into consideration to achieve those three goals which include:

• Rates of currency conversion
• Payment types that are preferred
• Payment processing
• Collection of taxes and payment for every region, country, state, etc.
• Payment failure handling
• Fraud prevention
• Subscription management
• Translations of the site
• Chargebacks
• Dunning process
• and much and much more.

The majority of recurring payment companies only help you with a few of these categories , leaving the others for you to determine. For example, some payment solutions will aid you with processing the payment in foreign currency, but they will not help you pay your taxes in those nations.

In this post, we cover what it means to be a Merchant of Record and how :

•   Collects and pays sales taxes (including VAT, GST as well as GST.) to you
•   Stays in compliance with local legislation and rules
•   Reduces churn with pre-emptive payment retries and notifications
•   It makes it easy for customers to buy
•   manages your recurring payment for you
•   Offers all the features for one flat rate

What Does it Mean to Have as Your Merchant of Record

A Merchant of Record (MoR) is a company which sells products or services to the purchaser. The MoR is accountable for each aspect of transactions, from collecting and processing information about payment as well as security, tax as well as compliance issues and audits. Chargebacks, audits, and so on. If anything goes wrong or is done incorrectly If something goes wrong or is done incorrectly, the MoR can help you in resolving the problem on your behalf.

Businesses can be their own MoR and manage all of this internally or they can contract the entire process out to us and allow us to assume full responsibility on each transaction. As the MoR for your company, you are in charge of the service or product, checkout experience, and branding We handle everything else, namely taxes, legal compliance, credit card network approval rates, dunning, and more.

Let Handle the Collection and Payment of Sales Tax and VAT

There was a time that SaaS as well as software were not exempt from many tax laws all over the world (or in other words, not a big source of audits). Tax regulations for online sales are evolving and becoming more rigorously enforced.

Every country, state, province, territory, etc. which you conduct business is governed by its own rules concerning the quantity and nature of taxes that need to be collected, and the time when they must be to be paid. And that's a lot to be aware of.

Note:.

In general, tax management worldwide requires using a payment processing platform and an application for tax compliance to calculate and collect sales and VAT taxes on each transaction. Although some payment services pay taxes on your behalf, you'll still be responsible for paying the taxes. If you fail to pay the right amount of tax, you could be liable for thousands of dollars in penalties and interest. But figuring out how to tax in every jurisdiction can be very tedious and often requires a team comprised of accountants and tax specialists.

If your MoR is due, we collect and remit consumption tax (including GST TVA, SST, etc.) on every transaction. We also file every tax return required by you.

Automatically calculates and applies the tax amount to be included in the cost at the time of checkout. We also offer tax-free transactions as well as other specific cases.

Always be in compliance with Local Laws and Regulations

Like taxes, every nation, state and territory. is also governed by its individual laws and regulations regarding the way that recurring transactions are conducted. For example, there is a law that states the Reserve Bank of India limits the automatic recurring payment to the amount of Rs 15,000 INR. In the event that a payment exceeds the limit, the consumer must accept the transaction using the use of an additional factor authentication (AFA) such as single-use password (OTP). In order to be in compliance with this RBI rule, you must file an electronic mandate which explains the kind of AFA you will use.

This is just one of the many examples of the types of laws you need to be aware of when you are transacting internationally.

Maintaining a current knowledge of the local regulations of each jurisdiction can be time-consuming and expensive. If you don't have the correct procedures put in place, you'll never be able to accept payments. Some payment platforms will help you stay on top of local rules and regulations in that they notify you when they learn about the new rules or laws. However, your organization is ultimately responsible for knowing about and observing all applicable laws and regulations.

However, for our customers, this is not an issue because, as your MoR, we assume full liability for adhering to local regulations and laws governing transactions. Our legal team stay up to date on all relevant legalities and make sure all the necessary steps are taken in taking payment.

We are fully in compliance with the EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). In addition, we renew our level one accreditation (which is the most prestigious level achievable) by certifying to the Payment Card Industry Data Security Standard (PCI DSS) each year.

Eliminate Involuntary Churn through Automatic Retries to Pay and Notifications to Customers

Involuntary churn being one major reasons businesses that use subscriptions lose clients Many companies use a system for automatically retrying failed payments or notifying customers of failed payments. This is a good place to start, but the next step is to inform customers of soon-to-be-expired payment types prior to the payment and to monitor repeatedly times after a failed payment. It can require many hours of employees and energy to manage the systems.

 That's why handles any payment problems and notices for our customers.

sends out email reminders to those who have cards when the account will expire, so they are able to update their data prior tothe card payment goes through. Also, it automatically retries failed transactions. In the event that the transaction continues be unsuccessful, the system will promptly inform the client. You can also choose to have us send out reminder email notifications two, five, seven, 14 and 21 days following the date that their payment fails. In our experience, the reminders and alerts we send out can significantly decrease the level of voluntary the churn.

During this time your client's service will not be affected. By continuing the service, the customer will be less likely to let the subscription end and will be more inclined to be able to update their information.

There is the option to pause rather than cancel your subscription if they are unable to change the payment details. This makes it easier for the customer to resume their subscription , without the stress of onboarding again.

Facilitate Customers to Buy with Preferred payment methods, localized transactions Translates, Payment Methods, and Much More

The friction at the point of purchase may cause companies to take on smaller numbers of customers than they might have. For foreign clients, there may be many causes of payment-related friction. For example:

• You don't offer their preferred payment method
• The text at checkout isn't written in a language that shoppers can comprehend.
• The price isn't listed in the currency of their country.
• It is declined, or is delayed to complete

 helps you overcome the challenges of HTML0 by:

• Accepting many different payment methods (and managing those methods so that the transactions can be quickly approved)
• Translation of your payment page(s) to a range of languages
• Converting prices to local currencies

We will discuss this in more depth in the sections below.

Preferred Methods of Payment

Different forms of payment are popular in different countries. If you don't provide forms of payment that certain buyers have a preference for, you'll convert less of these to buyers. This is why it's crucial to ensure that your payment system will support the various kinds of payments your customers who are in the market for are comfortable with. But, most International payment options are very limited in the types of transactions they can accept.

In particular, certain payment service providers will only support debit transactions. If your customers of choice are used to paying with credit cards or e-wallets (e.g., PayPal) This could be an issue.

Additionally, if you want to take payments from abroad You must also take into consideration the range of credit cards used in different countries. For example, while MasterCard and Visa credit cards can be commonly utilized by people in the United States, UnionPay is preferred in China.

In reality, integrating and managing payment methods that are popular can be more difficult than the addition of their logos to your checkout screen. Each card issuer has different tolerance levels to fraud and chargebacks and different rules for how a transaction takes place. If you aren't in compliance to these rules and the network could suspend the authorization of payments completely.

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

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

Additionally, the card network is more likely to accept locally-processed transactions when the bank of the buyer and the seller's are located in the same country (for instance, a customer located in Germany purchasing from a company also from Germany). We work with a variety of acquiring banks across the globe and continues on adding more. Because we offer our services on your behalf as a MoR, more of your company's transactions will be processed locally. This means that more payment will be approved.

Automatic Currency Conversions and Translations for Language Translations

People are more likely to trust a checkout experience offered in their native language and in their currency. If you've never translated your checkout text or converted your prices to the local currency and currency, you're likely to lose potential customers.

 By using this tool, you are able to translate your shopping cart into several languages. You can also convert the customer-facing price into local currency.

For shopping cart translations, you can:

1. Each buyer should pick their preferred language in an option menu.
2. Lock the language and will instantly select the correct language in accordance with the purchaser's geographical location.

There are two options for currency conversions:

1. Set your price in each currency. Our team can assist you in determining what the fixed price should be.

If you decide to let us the conversion of your product price for you, we match the general format of the price. In this case, for example, if the starting price is $19.99 when the conversion in Euros will be EUR20.29, would change it to EUR20.99.

Create Your Own Subscriptions and Control the Rest

provides all the instruments you require to set up and manage various types of recurring online payment. Here are a few examples of types of recurring transactions you can handle :

• Trial periods for free with or without gathering payment information upfront
• Prorated subscription payment
• Periods of variable billing
• The subscription is suspended
• Upgrade renewals
• Prepaid recurring billing
• Subscription bundled with a one-time purchase upon signing up
• Plus...

It's simple to setup nearly any subscription scenario with only a couple of steps. You can set up most subscriptions without writing codes, however, you may also create more complex subscription logic via our API and webhooks library.

All-in-One Pricing (No Hidden Fees)

A lot of payment processors charge a base price for each transaction and then charge extra for each extra features (e.g. access to global card networks, subscription logic that is specialized or.). The pricing structure of this type makes it difficult to know the exact amount you'll pay. This can make it difficult to expand globally when your company grows since costs will increase as you need additional capabilities.

 There is no additional charge for each service. Instead, our staff will work out a simple cost that grants the user access to all aspects of . Your price is based on the volume of transactions the system handles  in a day, and you'll be charged when transactions are completed.