What are the benefits of the tech upgrade?
Revolut Business’s Subscriptions will allow UK merchants more efficient methods of handling digital admin, instant reconciliation and unified financial control.
Merchants are able to set up subscriptions via the Revolut app or an API.
Access is also granted to bespoke plans and free trials, without the caveat of billing fees.
Alongside the benefits of the subscription app, merchants also have access to automated digital reminders. Their purpose is to assist in the reduction of missed payments and the growth of collection rates.
Alex Codina, General Manager of Acquiring at Revolut, comments: “Subscription revenue is the backbone of many modern businesses, but our customers were tired of juggling multiple software tools and high manual input just to manage recurring payments.
“We listened, and built a solution that simplifies the entire journey.
“By integrating robust subscription management with existing payment processing capabilities, we’re moving beyond simple payment acceptance and giving merchants a 360 view of their customers.
“This is a clear step towards our ambition of becoming the leading, all-in-one financial platform powering hundreds of thousands of fast-growing businesses globally.”