Today, a seamless payment process is not just a convenience—it's critical to achieving customer satisfaction and retention, especially in international markets. Efficient and reliable payment systems build trust, encourage repeat business, and help companies thrive globally.

According to our research, 74% of subscribers rank personalization as a top reason for subscription, including payment options. This highlights the importance of offering a variety of payment methods to cater to diverse customer preferences.

Here are proven best practices to optimize payments globally:

Optimizing global payment strategies. The most common strategies to build an efficient and reliable payment system. Payment methods offered are Apple Pay (82%), Google Pay (82%), PayPal (81%), and Amazon Pay (79%). Payment gateways used are PayPal (83%), Amazon Pay (75%), and Worldpay (61%). Methods to manage failed or late payments: Reminders about upcoming or failed payments (58%), automated updates of card or payment data (55%), and customer support to help resolve payment issues (54%). Between March and April 2024, Recurly commissioned Hanover Research to define a consumer subscription maturity model that enables subscription businesses to benchmark their current state.

Offering diverse payment methods and maintaining multiple payment gateways allows businesses to meet global customer preferences and ensure smooth transactions. Moreover, effective decline management and dunning campaigns enhance the customer experience and prevent churn.

For businesses looking to scale their operations internationally, our guide, Going global: The essential guide for expanding your subscription business, provides comprehensive, actionable steps to optimize global payment processes.

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