The subscription business is soaring in popularity, from transportation rentals to wellness kits due to the convenience it offers to the customers. Customers are now increasingly looking for customizations in subscription services. They want to feel that every interaction which they have with the brand is special and unique. They can have specific requirements, like:
- Customers might have different requirements such as usage-based billing, user-based billing, tiered Billing
- Need for a simple, straight-forward pricing structure and a faster subscription process
- Customers are hesitant to pay a single bulk amount and would want to have full control over their recurring billing
- Customers do not use debit and credit cards and want all their details to be secure.
- Functional errors made while setting up the subscription charges affecting customer experience
On-demand UPI AutoPay by Cashfree Payments adds a personalised layer to our previous UPI AutoPay offering- it enables businesses to customize their services as per unique customer requirements.
With On-demand UPI AutoPay, your subscribers can now allow auto-debit of their account by doing a one-time authorization using any UPI app! You can customize your recurring plan as per your unique offering by setting up the frequency, amount, period as per your liking.
Businesses can manage customer payments by setting up charges depending on their business requirements.
Top added benefits of using On-Demand UPI AutoPay:
- Customize the subscription plan as per specific customer requirements by choosing the amount, period, and frequency.
- Pre-schedule charges for subscriptions so that businesses can never miss sending an invoice again
- Cancel pre-scheduled charges
- Set up additional monthly charges based on customers’ usage of your service during the billing cycle
How can UPI AutoPay ecosystem help your business?
UPI AutoPay enables businesses to expand their customer base and have a lot of added advantages,
Ease of implementation
The ease with which you can set up recurring payments with UPI AutoPay is unmatched. The payment process is quite straightforward and secure, with no need for the user to worry about multiple layers of authorization. Customers can set up recurring payments using just their UPI App. No paperwork or documentation is required. Mandate registration confirmation happens in real-time for UPI.
Increased flexibility and reach
Get support on all major UPI Apps like Google Pay, PhonePe, Paytm, and many more. The services are not limited to just card users, businesses can offer their subscription services to non-card users too. Provide customers with the option to pay periodic recurring payments via UPI rather than a single bulk amount. The customers can revoke the plan whenever required after creating a mandate.
Detailed insights and reports
Customers have the access to all information related to the amount, frequency, and period of the mandate while setting up subscription payments. Customers receive pre debit notifications on their UPI App 24 hrs prior. They also get a consolidated view, all mandates can be checked in one single place.
Now collect recurring payments as per your desired frequency via any UPI app with On-demand UPI AutoPay, click here to sign up.