Recurly Changes Everything
And What That Means For Your Business
An Open Platform With Robust Recurring Billing Features
The payment industry is constantly evolving and a few clever organizations are realizing the benefit of offering developer-friendly solutions to help businesses accept payments in a variety of environments. Companies like Stripe and Braintree are leading the industry by making the process of accepting payments straightforward while offering ready-to-use-code that developers can easily integrate into their product without speaking to a single person. Appealing to the developer community is smart. Most developers time is at a premium and fussing with opening a merchant account, pinpointing a payment gateway and integrating a shopping cart, while of great importance, borders on contemptible in their eyes. That's why Stripe and Braintree are seeing so much success: they know their users and cater to them intelligently.
Stripe and Braintree are payment aggregators just like Square and in addition incredibly effective marketing, all of these companies have made accepting payments transparent and easy. You can sign up for any of these services with minimal information and obligation. This refreshing approach appeals to most small and medium business owners who have set up a traditional merchant account with a sly sales organization and ended up overpaying for a service without any real value provided. When you sign up for Stripe, you pay 2.9% & $.30 per transaction. That's it - No PCI compliance, no contract, no hidden fees and no hassle. While this rate sits comfortable in between completely overpaying and accessing true wholesale rates on Interchange, there is now an even better option because of Recurly.
Recurly is the most robust platform available for any business that needs billing management services. The platform easily manages automated communications, taxes, intelligent payment routing, coupons and discounts, invoicing, one-time transactions and metered billing and on top of that, the platform is completely open. Business can use any payment provider they would like and that is where Recurly has really made an intelligent business decision. In addition, importing subscribers from your current provider is easy.
Businesses can now access the most feature-rich billing management platform around while significantly reducing their credit card processing fees through Interchange Plus pricing. Stripe's 2.9% & $.30 is appealing but think about how much money could be saved for a business that runs millions of dollars a month if their effective rate falls closer to 2% A business processing 3 million dollars a month currently using Stripe or Braintree whose rates are reduced to Interchange Plus .05% & $.05 per transaction would potentially see annual savings close to a quarter million dollars. Think of all the developers you could hire!
Recurly has effectively created a product that changes how credit card processing sales organizations can approach technically savvy companies and how businesses can realize huge savings by switching from Stripe or Braintree to Recurly with an Interchange Plus merchant account. Check out Recurly for more information. If you're in the market to significantly reduce your credit card processing fees through Interchange Plus pricing, email me here.