This Indian startup takes the headache out of subscription ecommerce

“Imagine you’re a business that’s global in nature, and you’re growing globally. You have lots of customers in Silicon Valley, the Bay Area, the UK, and Australia. You host a lot of products in these companies, [but you] also want the customers to have a more local experience,” says Krish Subramanian, founder and CEO of ChargeBee.

ChargeBee caters to that. Based in Chennai, India, ChargeBee got its start in 2013 and helps businesses better manage recurring billings and online subscriptions. It serves about 1,000 clients across industries in nearly 50 countries. All clients deal in subscription ecommerce, meaning they rely on regular payments that come in from users.

Payment management is a big deal for up-and-coming companies, particularly startups, which are often short-staffed and need to conserve resources. They could do with an easy and convenient way to process transactions, particularly transactions overseas that may be in a different currency. In a recent move, ChargeBee has partnered with Worldpay, a London-based payment processing company, to bring an integrated payments solution to subscription billing.

Instead of paying in the currency of your company’s country, you’d want your customers to be able to pay in their own currencies. Dealing with multiple currencies is not the easiest thing to do. For example, paying across countries with different credit cards means that your payments have a lower rate of acceptance. The collaboration allows for, as Krish says, “crossover” between payments that won’t need in-house processing or a bank as a middleman.

In other words, ChargeBee takes a lot of the processing work required for subscription billings out of the picture — if you’re paying a certain amount per month, someone has to process that, and ChargeBee offers to do it for you instead of wasting time and resources having your staff do it. With the Worldpay partnership, the service can now process payments between different currencies without involving a bank and with a lot less red tape involved.

ChargeBee joins Zuora, Avangate, and Cleverbridge in a battle to get companies signed up for this kind of convenience. Subscription payment startups are doing well in an economy that seems to be becoming more and more subscription-based.

Source : techinasia.com