Businesses today have many different KPIs to indicate success and profitability. Their importance by hierarchy may be debatable by many individuals. Still, ROI (Return on Investment) is important to every business.
Making a payment today has become easier than ever with numerous digital payment options. Cashless is the new cool and most services are adopting digital payment options to increase revenue.
A new addition to the digital payment space is the humble yet powerful subscription links.
So if you’re a business that relies on recurring payments, Paytm Subscription Links can help improve the ROI.
While payment gateways will continue to thrive, Paytm Subscription Links is another hassle-free payment solution.
It allows you to collect recurring payments at specific intervals, without the customer worrying about delays, dues or repeated logins to complete their payment.
In the long run, this benefits customer satisfaction and steadily improves business ROI.
Here are 5 ways in which you can leverage the subscription link:
1. Easy to set up & customisable dashboard
Paytm Subscription Links’ robust yet easy-to-use dashboard will enable you to harness the capabilities of a comprehensive payment system.
To use Paytm Subscription Links, you neither require a technical team nor technical expertise. This product is made for non-tech savvy merchants who do not have an app or a website.
Catered to the needs of businesses from all possible sectors, it lets you:
- Create templates for every service you offer
- Create customised plans
- Set subscription amounts
- Set renewal dates
2. Automated operation
After you have created a template, all you need to do is associate a plan to a certain subscriber. Next, you can choose how to charge your customers, either weekly, monthly, quarterly or yearly and automate the billing cycle.
Once the payment is authorized, you can automate future payments and you would not have to repeatedly notify your customers over calls and messages.
You can enable email and SMS updates to intimate customers of service expiration dates, renewals and billing cycle changes.
3. Versatility across business sectors
Subscription links can benefit mid-tier businesses offering daily services or large companies looking to expand and build their customer base with subscription services.
The easy-to-understand and user-friendly interface make it easy for even a novice to set up and use the dashboard.
With many businesses aiming to automate payments and run on subscription-based models, the subscription link is a perfect alternative in various business sectors.
The BFSI sector can benefit from subscription payments in the domain of EMIs, SIP payments, trading and timed transfers.
Similarly, the product is helpful for rental services such as furniture, electronics, home & vehicle rentals as well as for businesses offering subscriptions for groceries, meal deliveries and even OTT platforms or online entertainment services.
4. Increased customer trust
Uninterrupted service with a carefully constructed business model can increase customer satisfaction quite a bit.
One-time authorization of the payment lets customers enjoy your product without having to constantly think about the billing period.
The ability to provide discounted or free trial periods to new customers can lead to permanent loyalists and long-term customers who may continue to use your services for a long time.
5. Ability to have more long-term customers
The easy-to-access and easy-to-use subscription links allow customers to pay for the service easily using their preferred payment source. This significantly boosts customer intent and results in lasting ROI.
The added benefit of subscription services is that you can charge your customers a one-time fee for a certain period and keep them in your ecosystem for longer.
Paytm Subscription Links give you, the merchant, full control of your business.
With a completely controllable payment gateway and the ability to design the groundwork of your business the way you want, you will reap the benefits of improved ROI and revenue.
For information on how you can integrate Paytm Subscription Links, visit our website.