Recurring Payments in India has been a challenging problem to implement. Due to the policies laid down by the Reserve Bank of India, it has been hard for the business to provide recurring payment options for their customers.
Recommended Read: A Comprehensive Guide to Recurring Payments in India
But, with the announcement of eMandates by NPCI and the RBI, recurring payments have become a lot easier to implement. With this development, we’re excited to announce Subscriptions by Cashfree, India’s most comprehensive recurring payments solution.
Get Started with Subscriptions
Here is a short video to help you get started with Subscriptions.
Cashfree Subscription allows you to enable a recurring payment schedule, control the billing cycle and get instant alerts on subscription activity.
How does Cashfree Subscriptions work?
Subscription Management on Cashfree works in 3 simple steps. Here’s what a biller needs to do:
- Create a subscription plan
- Add subscribers to plan
- Charge authorised users
Do more Via Cashfree APIs or Dashboard
- The registration process which used to happen physically is moving over to an API based e-Mandate, and this will work across multiple banks.
- Debiting of accounts registered prior to the release of e-Mandate still happen over file transfers. And the process hasn’t changed.
Cashfree brings to you an easy set of APIs which takes care of both the above points. This is detailed in the Subscription API doc
It is also possible to use Subscriptions without writing any code, by using just the dashboard. The dashboard supports all product features — Custom plans can be created, authorisation links can be sent to the subscribers and debits can also be initiated against an authorised mandate.
Key Features of Subscription By Cashfree
Subscriptions is aimed towards providing Indian and global businesses operating in India with a world-class collection mechanism that rivals other global platforms.
Here is what you should expect when you sign up for Subscriptions –
- Widest Option of Payments – Cashfree’s recurring payment platform provides widest options for payments which include – Cards (Credit & Debit), eMandates based recurring payments (Debit Card and Net Banking Authorization).
- Diverse Billing Models – There can be various requirements by businesses when it comes to collecting subscription-based revenue and therefore Cashfree Subscription offers a diverse billing model –
- Fixed Recurring Model – For companies that provide a product or service for a fixed price on a recurring basis.
- Usage Model – Customers that charge their customer on a recurring basis based on their usage. Customers pay for only what they use. For example, utility bills like electricity, water, phone bills and more.
- Fixed + Overcharge Model – Simplified billing solution for brands that charge a fixed amount and an overcharge based on additional consumption. For example, broadband billing, when we add additional data if our monthly data quota has exhausted before the end of the billing cycle.
- Higher Success Rates – Transaction failures happen for recurring payments too, just like any other online payment method, even after the successful generation of a mandate. A major reason is that a card or bank account may not be eligible or activated for recurring payments, something which is not known at the time of generating the mandate. Cashfree Subscriptions has been built to minimise such failures by checking the eligibility of a card or bank account for recurring payments in addition to generating a mandate. This ensures best in industry success rates in recurring payments.
- Swift Integration – Subscriptions provides comprehensive guides and integration kits for all major languages like -PHP, Python, Ruby and C#(CSharp) and more, to ensure integration takes a few minutes with our REST APIs.
- Advanced Analytics and Dashboard – Subscriptions incorporates the same dashboard and analytics engine that has been seen on other Cashfree product. This ensures that you have a consistent experience across our newest offering, as well have access to one of the best analytics to take crucial business decisions.
Getting started just takes a few minutes, and you can use our interactive video above, to begin.