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

If you are managing international recurring payments, there are three overarching aspects to consider:

1. Being up-to-date on local tax laws as well as transactions regulations
2. Making it really simple for consumers to complete their first purchase, and then enroll for monthly installments
3. Making sure that every subsequent payment passes through

Though it may seem simple, there's a plethora of things to think about to achieve those three goals such as:

• Currency conversion rates
• Preferred payment types
• Payment processing
• Collection of taxes and remittance for each nation, state, or territory for each state, country, territory.
• Payment failure handling
• Fraud prevention
• Subscription management
• Site translations
• Chargebacks
• Process of Dunning
• Plus much more

Most recurring payment providers will only assist you in only a handful of these categories , leaving the others for you to work out. For example, some payment solutions will help you process the payment in foreign currency, but won't help you pay taxes for those countries.

In this article, we cover the definition of the Merchant of Record and how :

•   Collects and pays sales taxes (including VAT, GST as well as GST.) to you
•   Stays in compliance with local laws and regulations
•   Reduces churn with pre-emptive payment retries and notifications
•   Makes it really easy for consumers to purchase
•   Controls the recurring payments for you
•   All you need in one price

What Does it Mean to Have as Your Merchant of Record

A Merchant of Record (MoR) is the business entity that offers goods or services to the purchaser. The MoR is responsible for every element of the transaction, including collecting and processing information about payment including security, taxes, compliance issues and audits. Chargebacks, audits, as well as audits, chargebacks, etc. If something goes wrong or has been done improperly If something goes wrong or is done incorrectly, the MoR can help you resolve the issue for you.

The company can function as its own MoR and take care of all the above internally, or transfer the entire process to us and allow us to assume full responsibility for each transaction. If you are acting as the MoR for your company, you are in charge of the product/service, checkout experience, and branding -- we handle all the rest, including taxation, compliance with the law and credit card network acceptance rates, dunning and much more.

Let us handle the collection and Payment of Sales Tax and VAT

It was once the case that SaaS and software was exempt from tax law in many jurisdictions across the globe (or just not a major subject to audits). Tax regulations for digital sales are changing and are being increasingly implemented.

Every country, state, province, territory, etc. that you do business with has its own laws about the amount and the type of tax that must be collected, and the time when they must be paid. And that's a lot to manage.

Note:.

The majority of the time, global tax management requires using a payment processing platform and an application for tax compliance to determine and collect sales and VAT taxes on every transaction. Although some payment services pay taxes on your behalf but you'll remain responsible for paying the taxes. If you don't make the proper payment of taxes, you may be liable for thousands of dollars in penalties and interest. However, figuring out the best way to be tax-paying in all jurisdictions is often very time-consuming and typically requires a team of accountants and tax professionals.

If your MoR is due We collect and pay the consumption tax (including GST and VAT as well as SST, etc.) each time you make a purchase and prepare every tax return required by you.

Automatically calculates and adds tax-related charges to the price at checkout. We also offer tax-free transactions, as well as other unique cases.

Continuously Ensure Compliance Local Laws and Regulations

Just like taxes, each state, country and territory. also has its specific laws and rules for how transactions that are recurring take place. For example, the Reserve Bank of India limits the automatic recurring payment to Rs15,000 INR. In the event that a payment exceeds that amount, the customer is required to accept the transaction using additional factor authentication (AFA) like one-time password (OTP). In order to comply with the RBI regulation, you also must file an electronic mandate which explains the kind of AFA you'll be using.

This is just one of many examples of the types of regulations you have to consider when you are transacting internationally.

Being up-to-date with the laws of the respective local region can be a time-consuming process and expensive. If you do not have proper procedures in place, you won't be able to collect payments. Some payment platforms will help you stay on top of local laws and regulations by notifying you if they discover any new regulations or laws. But, you are in the end accountable for being aware about and observing all applicable laws and regulations.

For clients, this shouldn't be an issue because, as your MoR, we assume full liability for adhering to local transaction laws and regulations. Our team of legal experts remain up-to-date with every legal aspect and makes sure that all processes are in place to collecting payments.

Fully compliant with EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). We also keep our level-one accreditation (which is the most prestigious level that is possible) by certifying to our certification under the Payment Card Industry Data Security Standard (PCI DSS) each year.

Reducing Involuntary Churn by Automated Payment Retries and Customer Notifications

Since involuntary churn is one major reasons businesses that use subscriptions lose clients and customers, many businesses have a system for automatically retrying unsuccessful payments, or for notifying clients of payments that have failed. This is a great place to start, but the next step is to inform customers of soon-to-be-expired payment types before the payment and to keep in touch several times after failing a payment. But, it will take a lot of employee hours and energy to manage these systems.

 This is why we handle all payment failures and customer notifications for our customers.

It sends email reminders to those who have cards when the account is about to expire so they are able to update their data prior to whenthe card's payment is processed. Additionally, the system automatically attempts to retry failed payments. If the payment continues to fail, will immediately inform the client. Also, you can have us send out reminder emails every two three, five, seven fourteenand 21 days following the date that their payment process does not work. In our experience, these reminders and alerts could dramatically reduce the amount of voluntary turnover.

During this time, your customer's service won't be affected. If you continue to provide the service your customer is less likely to allow the subscription end and will be more inclined to be able to change their personal information.

It is also possible to pause rather than cancel the service in case they fail to correct the information on their payment. This allows your customer to restart their service without having to go through the process of having to re-enter their payment information.

Make It Really Easy for buyers to purchase using preferred Payment Methods, Localized Transactions as well as translations.

The friction at the point of purchase could cause businesses to attract less customers than they otherwise would have. For international clients, there may be many causes of payments-related friction. Examples include:

• Don't provide your customers their preferred method of payment
• The checkout text doesn't come in a language that they can comprehend.
• It's not listed in their local currency
• The transaction gets declined or can take too long to process

 can help you conquer these obstacles through:

• Accepting many different payment methods (and managing these methods so that the transactions can be quickly approved)
• Translating your checkout page(s) into a variety of languages
• Converting prices to local currencies

We cover this in more specific detail in the next sections.

Preferred Methods of Payment

Different forms of payment are accepted in different nations. If you do not offer the types of payment that specific buyers use and aren't converting the customers to your service. This is why it's crucial to ensure that your payment system will support the various forms of payment that the customers you are targeting are acquainted with. But, most global payment services will be restricted in terms of payments they support.

In particular, certain payment services will only support debit transactions. If your customers of choice prefer to pay with credit cards or e-wallets (e.g., PayPal) it could cause an issue.

Additionally, if you want to accept payments from outside the country You must also be aware of the range of credit cards that are used in various countries. In particular, although MasterCard as well as Visa credit cards are most commonly employed by people in the United States, UnionPay is more common in China.

In reality, integrating and managing popular payment methods is more complicated than including their logos on your checkout screen. Each card issuer has different tolerance levels for fraud as well as chargebacks, and has different regulations for how transactions take place. If you're not in compliance with these guidelines and the network could suspend the authorization of payments completely.

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

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

Additionally, the card network is more likely to approve locally-processed transactions when the buyer's bank and the seller's bank are within the same region (for instance, a purchaser from Germany buying from a business that is also located from Germany). We work with a variety of acquirers across the world and will continue on adding more. Because we offer our services to you on behalf of a MoR, more of your company's transactions will be handled locally which means more payments are approved.

Automatic Currency Conversions as well as Language Translations

Customers are more likely to trust a checkout experience offered in their own language as well as in their local currency. Therefore, if you've not changed the text of your checkout or changed your pricing to the currency of your local market it's likely that you'll lose prospective clients.

 With , you can convert your shopping cart to various languages, and then convert the customer-facing price to local currencies.

For shopping cart translations, you can:

1. Let each buyer choose their preferred language using an option menu.
2. It will lock the language and choose the language automatically based on the buyer's location.

There are two options for currency conversions:

1. Set your price in every country. Our team can assist you in determining what the cost should be fixed.

If you choose to let the conversion of your product price be done for you, we'll match with the standard format of the price. Example: If your starting price is $19.99 and the conversion to Euros would be EUR20.29 It would be changed to EUR20.99.

Create Your Own Subscriptions and manage the rest

provides all the tools you need to create and manage different types of recurring online payment. Here are a few examples of of recurring payment you could control using the following tools :

• Trial periods for free with or without gathering payment information upfront
• Prorated subscription payment
• Variable billing intervals
• Paused subscriptions
• Upgrade renewals
• Prepaid recurring billing
• The subscription comes with a single purchase at sign up
• and more...

It's simple to setup nearly any subscription scenario with just a few steps. It is possible to set up the majority of subscription types without any codes, however, you may make more sophisticated subscription logic via our API or webhooks library.

All-in-One Pricing (No Hidden Fees)

Many payment system providers will cost a flat fee per transaction, and add on a charge for every extra option (e.g., access to international credit card networks, subscription logic that is specialized or.). These kinds of prices make it difficult to know exactly what you'll have to pay. This can make it difficult to scale globally as your company grows since costs will increase as you need additional features.

 We don't add any additional cost for every service. Instead, we come up with a basic fee that will grant you access to every aspect of . The price you pay is determined by the number of transactions that you make  as well as you'll only be charged for transactions that take place.