Subscription Management
Enable true pull-payment recurring solutions for subscription-based business models using digital currencies.
Paygrid equips Payment Service Providers (PSPs) with the tools to build and manage subscription-based payment systems that support digital currencies, in a true pull-payment fashion without wrapping or streaming anything, favoring a UX more similar to card and direct debit payments. This allows PSPs to offer their clients the ability to set up, process, and manage recurring on-chain payments with any self-custodial wallet.
Key Features:
Flexible recurring payment setup: Configure various subscription models (monthly, quarterly, annual, etc.).
Smart contract integration: Paygrid offers automation nodes that enable on-chain subscription management. No need to wrap tokens or stream anything, each payment is pulled at the time it's due.
Multi-currency support: Process subscriptions in various digital currencies and stablecoins.
Automated currency conversion: Built-in swapping to convert between different currencies as needed.
Failed payment handling: Automated retry attempts and webhook notifications for failed transactions.
Subscription lifecycle management: Tools for handling upgrades, downgrades, and cancellations.
Compliance and reporting: Features to help PSPs and their clients meet regulatory requirements for recurring payments.
Example Scenario: A PSP wants to offer a digital currency subscription solution for a SaaS tool. Using Paygrid, they can:
Integrate Paygrid's subscription management APIs into their payment system.
Set up various subscription tiers with different pricing and billing frequencies.
When a user signs up for a subscription: a. Paygrid stores the agreement on-chain. Paygrid smart contract automations process each payment when it's due on-chain.
On each billing cycle, Paygrid automatically:
Pulls the payment from the user's wallet to the destination.
Handles any necessary currency conversions.
Notifies the PSP via webhooks of the successful payment.
If a payment fails, Paygrid can attempt to retry the transaction and notify the PSP via webhooks for further action.
Demo
Get a sense of what kind of UX you can build with this sample prototype. Talk to us to discuss how we can enable your ideal UX flow.
This implementation allows PSPs to offer their clients a robust subscription management system that leverages the benefits of digital currencies, such as lower transaction fees and faster settlement times. It enables businesses to expand their subscription offerings to include digital currency options, without having to solve on-chain automation challenges.
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