The subscription business model is growing sharply around the world, but the industry is also dealing with the twin challenges of fraud and subscriber churn. As a result, companies are increasingly turning to high-tech fraud-busting solutions to entice and keep subscribers. But various technologies powered by artificial intelligence (AI), biometrics and advanced machine learning are letting companies achieve the important balance between safety and convenience. All this, Today in Data.
50,000: Number of customers worldwide to which GoCardless provides its recurring payment solutions.
$536.4M: Value of fitness subscription app ClassPass.
81.68 percent: Growth in subscription sales reported from Cyber Monday 2019.
$10B: Amount that fraud-related false positives cost businesses annually.
$8B: Expected value of the Japanese subscription market by 2023.