New subscription habits require a new platform to manage recurring payments

Nowadays, who doesn’t subscribe to something? Whether it’s the gym, a car under a leasing agreement, the Adobe software suite for your company, Netflix or Spotify, etc.

According to El País, ‘The turnover of the subscription economy will be €3.17 billion this year in Spain alone – 28% more than in 2020’.

This revenue model is a disruptive model that has changed the relationship between brands and customers, and is expected to grow by 27% over the next four years, with revenues of more than €8.1 billion and 62 million active subscriptions.

More and more companies are seeing this model as an opportunity for growth, and for sectors such as transportation, it’s a revolution in every sense of the word.

“The Spanish Vehicle Renting Agency (AER) highlights a clear trend towards change in both society and mobility as a result of new consumption habits, the post-pandemic shock and the awesome technological breakthroughs that took place this past year”.

To adapt to this new way of life, free from ties,car hire and leasing companies have created simpler and more flexible business models: subscriptions.

And it doesn’t stop there, from the transportation sector, we can extrapolate this to the food and services sector…Estrella Galicia has also jumped onto the bandwagon of subscription models with the aim of making life easier for its customers, allowing them to enjoy a unique user experience with no waiting time involved. How? By putting their customers at the centre, letting them decide how much, when and how, in exchange for a monthly recurring payment – it’s that easy!

 

What benefits do these subscription models bring to your business?

The possibility of building a large base of loyal customers and forecasting your cash flow based on secure future revenues.

Build a long-term B2C relationship by offering flexibility in the payment method, thanks to small automated ghost payments, with which you get fixed revenues at a low one-time acquisition cost.

Recurring payments and their flexibility are applicable to different moments along the payment journey and the myriad situations of your customers. The need to pay in instalments, subscriptions, customised recoveries in several instalments or lease agreements, such as the famous rental and leasing agreements.

You should be able to do all this an more with just one click, thus significantly increasing your customer portfolio. Because excellent service doesn’t have to be complicated.

 

Recurring payments + recovery: Wannme’s solution for successful subscription models

 

We transform what looks like a simple subscription into a payment method with incredible potential, optimising it to the greatest extent possible thanks to digitalisation and customising it to each situation and client. What does this mean? This means that with Wannme, you can create the subscription model you want for your business.

You can set the same fee every month or change it, which can help you attract new subscribers with a small discount at the beginning of the subscription. You can charge the fee directly to the customer’s card by tokenising it just like the major players do. And best of all, if the fee is declined, you can charge it again, significantly reducing your default rate.

Learn more about our recurring payments here (link to website)/or request a demo to get a first-hand look at how you can transform your business.

• Choose between tokenising the customer’s card and signing a SEPA mandate with our digital signature feature, or activate both solutions at the same time.
• Set the same fee every month or change it.
• Design a variable payment plan based on the customer’s ability to pay or the service provided.
• Leave an open payment plan.
• Send a message to your customer if you see that their card is about to expire before the next instalment.
• Attach information prior to payment.
• Transfer your recurring payments to WANNME in a matter of seconds.

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WANNME is there throughout the entire payment process – before, during and after – doing everything needed so you get paid.

Do you want to know how to deploy it in your business and turn your customers into loyal customers? Sign up here for our webinar where we’ll explain all of this in great detail and how we can help you with recurring payments.

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