| | DECEMBER 202019CIOReviewPaywayPayments Key to Subscription Business Success Payway's customer hadcommissioned a third-party to solicit new subscriptions at community events and the campaign was a success. The first month's payments went through fine. As soon as the next billing cycle occurred, the customer started seeing thousands of declines. They called Payway for guidance. Payway identified the issue--the third party had permitted account sign-ups with Visa, MasterCard, and American Express gift cards. Gift cards aren't meant to support recurring payments. The customer wanted to know how they could prevent this from happening again, short of no longer doing events. Paywaytook an innovative route and expanded its card detection functionality to include auto-detection of gift cards at point-of-entry. This new feature ensures only a credit card or digital wallet isassociated with the subscription sign up. With this feature in place, the customer is able to reduce the risk of declines and fraud, and accurately measure the opportunity for increased monthly recurring revenue. This new feature will be rolled out to all Payway customers in the coming months. Driving Subscription Economy in the Post COVID-19 EraPaywayis one of the most sought-after payment solution providers for subscription businesses and recurring-revenue companies. Demand has increased during the ongoing COVID-19 pandemic as Payway consults with merchants to help them understand the impact of payments to the overall success of their company--and their bottom line. Payway is educating prospects on the payments ecosystem and what to look for in a payments partner as they look to digitally transform their business.What takes the efforts of Payway to a whole new height is its simplified pricing strategy. Instead of bundled pricing which hides the real cost from the customer, Payway follows a cost-plus pricing policy that allows customers to understand exactly what they are paying. Prospective clients can visit payway.com/pricing to access the cost calculator to get an idea of the savings available with Payway. Payway can also help clients with a free cost analysis to save on avoidable processing fees.And if you already have a good payment processing deal, they will let you know that also.Paywayislooking ahead to 2021 and furtheringtheir technological capabilities to help subscription-based businesses stay ahead in the digital-first era. They're also extending their reach into the developer community, looking at ways to make it easier for them to code for payments. To this extent, Payway has already released a RESTful API of its PaywayWS that can be integrated with any front-end system.Payway is continually creating new partnerships with e-commerce platforms,subscription management companies, and circulation management systems. In short,Payway is perfectly positioned to help those clients who want to transform their recuprring payment processing and emerge as a market leader. We've taken our decades of practice in managing recurring payments and refined our methodology for current timesKimberly Miller
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