SAN FRANCISCO--(BUSINESS WIRE)--Recurly, Inc., the leading pay-as-you-go subscription billing service provider, announced today that it has released a payment gateway designed specifically to handle the unique requirements of recurring billing. The Recurly payment gateway enables companies who provide services on a subscription basis, to benefit from subscriber renewal management capabilities as well as credit card error optimization achieved only by extremely expensive, custom-built systems in the past.
Billing customers on a recurring basis for any subscription-based product, application or service results in complex challenges resulting from declined credit cards. In many instances, credit card errors result directly in unwanted customer churn, which is extremely costly for subscription businesses with recurring revenue streams.
Unlike most payment gateways, which are designed to process one-time transactions, Recurly’s payment gateway helps businesses optimize their customer retention rates, minimize customer churn, and extend the lifetime value of their subscribers under management. This is accomplished by a certified integration with the TSYS credit card processing service, Total Systems Service, Inc.
“Integrating directly with TSYS for credit card processing gives us a unique ability to provide services to our customers that others cannot,” said Dan Burkhart, CEO of Recurly. “We’re working on addressing the hardest credit card processing challenges so that our customers receive the benefits of our service while avoiding the need to invest in an area that is non-core to their business.”
The cost of the new Recurly payment gateway is included in Recurly’s pricing. In addition, Recurly provides premium customer retention reports for each Recurly payment gateway customer. Customer retention reports enable merchants to easily understand the relative quality and value of customers acquired through various marketing channels and programs. These insights help merchants make better decisions to optimize the lifetime value of subscribers under management.
(Details available at http://recurly.com/gateway)
Recurly, Inc. provides enterprise-class recurring billing management for over six hundred and fifty subscription-based SaaS, Web 2.0, Mobile, content and publishing businesses worldwide. Businesses like Fox News Radio, JibJab Media, Weather Underground, Justin.tv, GOOD.is, Slideshare and EquityFeed depend on Recurly’s ability to deliver recurring billing automation. Since it’s launch in January of 2010, Recurly has deployed subscription billing for companies throughout North America and the European Union. Recurly, Inc. is PCI-DSS Level 1 Compliant, and operates in compliance with the data protection practices outlined in the E.U. Safe Harbor agreement found here www.export.gov/safeharbor. Recurly can be found at http://recurly.com