recurring payments with mollie payments for woocommerce plugin - woocommerce meetup amsterdam

WooCommerce Meetup29 september 2016Robert van Eekhout

Recurring Payments with Mollieand the Subscriptions Plugin

What is a Recurring Payment?

“Merchant-initiated payment, performed on a periodic basis

based on a standing pre-authorization from the cardholder”

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

Advantages of Recurring Payments for the customer

- Customer can budget more effectively- Customer gets a feeling of control over

their accounts- Customers can gain rewards (if

applicable)- Customers know their bills are paid in time

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

Strong correlation between household income and education

- Higher educated households have a higher income (versus low educated households)

- These households are more tech savvy

- These households are more aware of their financial situation and recurring payments helps them preserve stability of their finances

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

Strong correlation between household income and education

- Higher educated households have a higher income (versus low educated households)

- These households are more tech savvy

- These households are more aware of their financial situation and recurring payments helps them preserve stability of their finances

“Recurring Payments and online bill payments: the key to becoming “Top of Wallet” - MasterCard Advisors

“Dudes shave. They pay money. They get stuff — month after month after

month. With a bit of creative thinking, Dollar Shave Club has found a

product that works for the model they want. Hello, subscription economy.”

https://blog.kissmetrics.com/before-starting-recurring-billing/

“SurfAir branded themselves as “the future of flying,” and

throw in a lot of perks like free parking and hassle-free check-in to make the process simple.”

https://blog.kissmetrics.com/before-starting-recurring-billing/

“The counseling itself doesn’t require a subscription, of course. However, those

who do choose to subscribe to ThriveWorks membership are given

preferred appointments, a greater level of access to counselors, and unlimited

coaching questions online.”

https://blog.kissmetrics.com/before-starting-recurring-billing/

How do you know you are on the right path?

- The subscription is a good deal- The subscription is a unique product- The subscription is convenient- The subscription is sort of

necessary (like chocolate ;))

https://blog.kissmetrics.com/before-starting-recurring-billing/

The No. 1 problem with recurring payments…

TECHNOLOGY

UNTIL NOW

https://www.adyen.com/dam/jcr:8fb5ba55-9408-41ca-8ce9-3fb25b8abdcc/original.pdf

1. Create the customer

2. Create first payment

Customer mandate is created

3. Check the mandate

If valid mandate, you can proceed

4. Do the recurring payment

Thanks!