The hidden subscription economy shaping the future of payments

NewsBy Stephen Reidypublished 10 December 2020 Why businesses are turning to subscriptions to diversify See more

FAQs about The hidden subscription economy shaping the future of payments Coupon?

What is the impact of a subscription economy?

The impact is an ever-expanding subscription economy - cutting across a whole new range of industries - as well as a rapidly changing payments landscape that is adapting to this movement. ...

How has the subscription economy changed in recent years?

In recent years, the subscription economy has expanded rapidly. Consumers are increasingly lured to the ease and customization afforded by these models, which range from streaming services like Netflix and Spotify to subscription boxes for beauty items and meal packages. ...

What are subscription-based economic models?

Subscription-based models are particularly transformative in emerging economies where access to financial resources and services is often limited. They have the potential to bridge the gap between underserved populations and essential products or services, thereby fostering economic growth and empowerment. ...

How can subscription-based payment methods improve business sustainability?

Subscription-based payment methods allow organizations to diversify their revenue streams while also improving business sustainability. Businesses can lessen their reliance on one-time purchases and develop a more stable revenue source by establishing a subscription-based product alongside traditional sales. ...

Why are subscription-based payment methods becoming more popular?

Subscription-based payment methods are becoming increasingly popular, altering how businesses run and engage with their customers. This transition has a wide range of repercussions for firms in a variety of industries. This article will look at the rise of subscription-based payment methods and the ramifications for businesses. ...

What are the benefits of subscription based payment structures?

One of the primary benefits of subscription-based payment structures is the possibility of increased client retention and loyalty. Businesses can develop continuing ties with their clients rather than one-time transactions by offering subscriptions. This generates regular revenue and allows you to build long-term consumer loyalty. ...