International Recurring Payments (How we Handle It For We Handle It for) -

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

1. Staying up to date with local tax laws and transactions regulations
2. This makes it easy for customers to make the first purchase as well as sign up for recurring installments
3. Making sure that every subsequent payment passes through

Though it may seem simple however, there's an array of variables to take into consideration to achieve those three goals which include:

• Rates of currency conversion
• Payment types that are preferred
• Payment processing
• Tax collection and remittance for each nation, state, or territory, etc.
• Payment failure handling
• Fraud prevention
• Subscription management
• Site translations
• Chargebacks
• Process of Dunning
• Plus there's plus

The majority of recurring payment companies will only assist you in certain categories and leave the rest for you to determine. For example, some payment solutions will assist you in processing payments in foreign currencies but they will not help you pay your taxes in those countries.

In this piece We will explain what it takes to be an Merchant of Record and how :

•   Collects and pays sales taxes (including VAT, GST as well as GST.) to you
•   Stays in compliance with local regulations and laws
•   Reducing churn by pre-emptive payment retries and notification
•   It makes it easy for consumers to purchase
•   Controls the recurring payments for you
•   Offers all the features in one price

What Does it Mean to Have as your Merchant of Record

The Merchant of Record (MoR) is a company which sells products or services to buyers. The MoR is in charge of every aspect of transactions, from the collection and processing of payment information including security, taxes as well as compliance issues, chargebacks, audits, as well as audits, chargebacks, etc. If something goes wrong or has been done improperly, the MoR can help you resolve the issue on behalf of you.

Companies can act as their personal MoR and take care of all these tasks internally. Or, they could outsource the entire process to us, and we assume full responsibility on each transaction. When is acting 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, namely taxes, legal compliance as well as credit card network approval rates, dunning, and much more.

Let the Collectors and Remittance of Sales Tax and VAT

There was a time that SaaS and software was exempt from tax law in many jurisdictions across the globe (or simply not a significant source of audits). However, tax laws regarding digital sales are changing and being more strongly implemented.

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 the tax must be payed. That's quite a bit to be aware of.

Note:.

Typically, global tax management involves using a processing platform as well as a tax compliance software for calculating and collecting tax on sales and VAT for every transaction. While some payment platforms will take care of tax collection but you'll remain responsible for remitting those taxes. If you don't pay the correct amount of tax, you could end up owing thousands of dollars in penalties and interest. But figuring out how to be tax-paying in all jurisdictions can be very tedious and usually requires a group of accountants and tax professionals.

If your MoR is due is due, we collect and transfer consumption tax (including GST, VAT, SST, etc.) for every transaction and file the tax returns required for your benefit.

automatically calculates and adds the tax amount to be included in the price when they check out. We also support tax-exempt transactions as well as other specific cases.

Continuously Ensure Compliance Local Laws and Regulations

Just like taxes, each country, state and territory. is also governed by its individual laws and regulations regarding the way that recurring transactions are conducted. In particular there is a law that states 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 that amount, the customer is required to accept the transaction using additional factor authentication (AFA) like One-time Password (OTP). In order to be in compliance with this RBI rule, you need to submit an e-mandate which explains the kind of AFA that you'll use.

It is one of many examples of different laws you need to be aware of when transacting globally.

Maintaining a current knowledge of the laws of the respective local region can be a time-consuming process and expensive. If you're not using the correct procedures put in place, you'll never be able to accept payments. A few payment systems can assist you in staying on top of local regulations and laws by notifying you if they learn about any new regulations or laws. Your company is in the end accountable for being aware the rules and laws.

However, for our clients, this shouldn't be an issue since as the MoR for you is our responsibility, we are fully responsible for ensuring compliance with local transaction laws and regulations. Our legal team keep up-to-date on every legal aspect and makes sure all the necessary processes are in place to making payment.

We are fully in compliance with the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). We also renew our level one certification (which is the highest level that is possible) with an annual certification to the Payment Card Industry Data Security Standard (PCI DSS) every year.

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

Since involuntary churn is one of the main ways subscription-based businesses lose customers, many companies have an automated system to retry failed payments or notifying clients of payments that have failed. It is an excellent first step, but the following step is to notify customers of soon-to-be-expired payment types prior to the payment and to monitor repeatedly times following a failed payment. But, it will take many hours of employees and energy to manage the systems.

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

Sends reminder emails to those who have cards when the account will expire, so they can change their card details prior tothe card's payment is processed. also automatically retries failed payments. If the payment continues fail, will immediately notify the customer. You can also choose to have us send out reminder emails every two three, five, seven 14 and 21 days after the payment process does not work. We have found that these reminders and alerts could drastically reduce the rate of uninvoluntary turnover.

While this is happening the customer's services won't be disrupted. In the event that the subscription is continued your customer is less likely to let their service lapse, and is more likely to make the effort to update their information.

There is the option to suspend rather than cancel their service if they fail to correct the information on their payment. This allows the customer to resume their service without having to go through the process of onboarding again.

Facilitate customers to buy with preferred payment methods, localized transactions as well as translations.

In the process of purchasing, friction can cause companies to capture less customers than they otherwise might have. For foreign customers, there can be several causes for 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.
• The price isn't listed in the local currency.
• It's declined or can take too long to finish

 helps you overcome these challenges through:

• The acceptance of a variety of payment options (and managing these methods so that the transactions are quickly authorized)
• Translating your payment page(s) into a variety of languages
• Converting prices to local currencies

This is covered in greater specific detail in the next sections.

Preferred payment methods

Different forms of payment are popular in different nations. If you don't provide forms of payment that certain buyers have a preference for and aren't converting these to buyers. This is why it's crucial to make sure that your solution will support the various types of payments that the customers you are targeting are familiar with. But, most International payment options are extremely limited in terms of the kinds of payments they support.

In particular, certain payment services will only accept debit transactions. If your target customers 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 consider the different kinds of credit cards that are used across different nations. In particular, although MasterCard as well as Visa credit cards can be widely utilized in the United States, UnionPay is preferred in China.

But, adding or managing the most popular payment options can be more difficult than including their logos on your checkout screens. Every card issuer has its own tolerance levels to fraud and chargebacks. They also have different rules regarding how a transaction takes place. If you're not complying with these guidelines the network of your card may end the process of authorizing transactions altogether.

Also, it supports the most the most popular payment methods including:

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

Finally, card networks are more likely to authorize local-processed payments when both the bank that is the purchaser and seller's are located within the same region (for instance, a customer from Germany buying from a business that is also located situated in Germany). works with multiple acquiring banks across the globe and is always working to add more. Since we sell to you on behalf of a MoR, more of your company's transactions will be processed locally. This means that more payment will be authorized.

Automatic Currency Conversions, as well as Translations for Language Translations

People are more likely to trust a checkout experience offered in their own language and currency. If you've never changed the text of your checkout or changed your pricing to local currency it's likely that you'll lose prospective clients.

 You can also convert your shopping cart to different languages and automatically convert the customer-facing price into local currency.

For shopping cart translations, you can:

1. Let each buyer select their preferred language from an option menu.
2. It will lock the language and instantly select the correct language based on the buyer's location.

There are two choices for currency conversions:

1. Set your own price for every currency. Our team can help you determine what the fixed price should be.

If you decide to let us transform the price of your products be done for you, we'll match the format used by the price. Example: If your initial price is $19.99 when the conversion in Euros is EUR20.29 It would be changed to EUR20.99.

Modify Your Subscriptions, and let us manage the rest

provides all the tools you need to manage and create different types of recurring online payments. Here are some examples of of recurring payments you can manage with :

• Trial periods for free with or without collecting payment details upfront
• Subscription payments that are prorated
• Variable billing intervals
• The subscription is suspended
• Upgrade renewals
• Prepaid recurring bill
• Subscription bundled with a one-time purchase when you sign up
• Plus...

It's simple to create virtually any kind of subscription in just a few steps. It is possible to set up the majority of subscription types without any programming, however you could develop more complicated subscriptions using our API and webhooks library.

All-in-One Pricing (No Hidden Fees)

Most payment service providers charge a base price per transaction, and cost extra for each extra feature (e.g., access to international credit card networks, subscription logic that is specialized, etc.). The pricing structure of this type makes it hard to determine what you'll be paying. It can also make it hard to grow globally as your company grows since the cost will continue to rise as you require more features.

 We don't add any additional cost for every feature. Instead, we work out a simple fee that will grant the user access to all aspects of . Your price is based on the volume of transactions you make , and you'll only be charged when transactions are completed.