Why Stripe Integrations Should Be The Part Of Your Fintech Stack In 2022
When we talk about new years, new resolutions, and new goals, one should never neglect the achievements, failed expenditures, and the results of an active campaign, especially when you are running a subscription business. Wondering why? Well, most of the subscription businesses are offering an experience, not a tangible product that people can try and opt to buy again. Hence this put more pressure on the subscription business to ensure their customer is satisfied. And, a step toward this goal can be optimizing your fintech stack. No one wants their money to be stolen, therefore the need to have an agile payment gateway increase significantly. So, if you are looking for a payment gateway that could improve your recurring payment process is via stripe integration.
Here in this article, we have identified 5 essential reasons to support our argument for including Stripe into your fintech stack and accepting global payment with recurring payments with Stripe.
5 Reasons To Choose Stripe Hubspot Integration
- Secure Payment Gate
The first thing on our list is the security it offers. Whether we are talking about the regional payment collection of international, the security of the payment gateway plays a deciding role for the subscriber in deciding whether to opt for your subscription or not. So, if your payment gateway failed to provide a secure experience then your subscriber won’t wait and quit their subscription plan in seconds. For this very reason, the first thing you should include in your fintech stack is Stripe gateway.
- Native Payment & Language Support
Another reason that has topped our list of reasons includes collecting payments in local currency. As you move outside your hosted country you come to realize that the payment gate you are using to collect payments from the local subscriber is not available in the country or region where you are scaling your business. Moreover, you will also find the trend where people want to pay in their own currency. And, there are two reasons behind this, first, hefty taxes, and secondly the currency value. Hence integrating Stripe into your fintech empowers subscription businesses in customizing their invoice in regional language and also integrating support to collect payment in regional currency. Besides, it empowers the subscriber to select their preferred payment method.
- Fast Integration And A Wide Range Of Options
In addition to this, as a market grows the mean for shopping, diversify too. Not only that, but the method of payment also evolves too. In such a situation having a payment collection tool that doesn’t scale or improve could lower your chances of survival in an international market. Hence, it is recommended to include a payment collection tool that offers flexibility. And, Stripe integration with SubscriptionFlow can help you realize your dream. Since it is highly flexible, you can integrate multiple applications to make it more agile.
- Reporting And Monitoring
When you are operating a subscription business the process of reporting and revenue tracking is not different than the regular business. The only difference is, in subscription, the subscriber has to pay for the services or product he or she has availed on a recurring basis. Similarly in the case of buy now and pay later. The thing that makes stripe an ideal is detailed reporting. You can customize the report on the basis of tax, active invoices, paid, and pending, etc.
- Auto-Invoice Creation
Last but not least, stripe integration empowers subscription businesses to generate recurring invoices with customized language and currency. At the same time, you won’t have to do much, just create an invoice and set the thing to automation and the system will take care of everything from sending reminders to follow-up on invoice payment.
Recent technological advancement has made the market saturated and simultaneously increased opportunity avenues. Now subscription business model can use these opportunities to scale globally. However, the survival and success of a business are depended on the quality of fintech they are using. And, the most essential thing in a fintech is having an agile payment collection integration. In this regard, you will find Stripe integration highly beneficial since it offers flexibility and opportunities to businesses to scale globally and collect payment in local currency.