Partnerships / Acquisitions

Recurly Takes Subscriptions Global With Adyen Partnership

Enterprise-grade subscription management platform Recurly and Adyen, a payments company powering global commerce, announced Thursday (Dec. 14) they have teamed up to expand subscription businesses internationally.

In a press release, the companies said that a new integration would increase revenue opportunities for subscription offerings worldwide, all by catering payment offerings toward global consumers. With the integration, Recurly and Adyen said they make it easy for subscription businesses to accept a wide variety of international payment types resulting in greatly improved conversions at checkout. 

“Subscription businesses can differentiate themselves on the global stage by delivering frictionless experiences with a variety of payment options,” said Kamran Zaki, North America president for Adyen, in prepared remarks. “Our integration with Recurly helps subscription businesses provide seamless and secure payment experiences and increase revenue opportunities worldwide.”

Retailers are moving into new business models to connect better with shoppers and create repeat shopping experiences, thus opening up new revenue streams for retailers. Subscription commerce can give some retailers predictable revenue and, at the same time, help them gain insight into their customers.

“Global subscription businesses require a payment processing partner equipped to handle the unique requirements of cross-border commerce,” said Dan Burkhart, chief executive officer at Recurly. “The Recurly and Adyen partnership provides a distinctive set of capabilities for subscription businesses to rapidly expand their offerings outside the continental U.S. market.”

In the summer, Recurly announced an integration deal with Xero, a global, cloud-based accounting platform. In a press release, Recurly said the integration, which automatically synchronizes billing and invoice data from Recurly with the Xero platform, streamlines financial operations and provides customers with a more complete view of recurring revenue and transactions.

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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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