DANVERS, Mass., Oct. 29, 2021 /PRNewswire-PRWeb/ -- Payway®, an integrated payment processing solution, announced today that it will be attending the Subscription Insider Show 2021 in New York City on Nov. 1-3. Payway will also be a Silver sponsor of the event, which features leading business to business and business to consumer subscription experts steering discussions that will help the industry understand the latest strategies and tactics to navigating the subscription and recurring revenue industry.
Attendees can stop by the Payway booth #111 to learn more or discuss challenges related to recurring payment processing with Payway's Co-founder, Daniel Nadeau and Executive Vice President of Strategy and Operations, Kimberly Miller. Attendees can also calculate payment fee savings using Payway's cost-plus payment pricing model, and every person who stops by the booth and leaves a business card will be entered to win a pair of Bose earbuds.
According to the Subscription Trade Association, subscriptions have been steadily increasing for years, and recent numbers show that in Q4 of 2020 alone, subscription companies reported a growth rate of 20%. And, from February to July 2020, 96 million Americans became paying subscribers, bringing the total number of subscription members to 535 million.
"The subscription model is here to stay and there is no going backwards. The pandemic caused consumer behavior to drastically change to increase the focus on convenience and safety. There was no need to go out to the mall, the grocery store or the wine store when you could have all of them come to you with a simple click and an easy subscription," said Kimberly Miller. "Companies that are offering subscription models are the ones that will fare well in the future. Implementing a payment gateway will provide the assurance for recurring payment processing that companies need and can rely on today."
Payway's payment gateway is used to process multiple types of payments. The gateway encrypts the data between the user and the merchant for safe payment processing, sending authorization requests to a credit card company, bank, or any other financial institution to process transactions. Upon authorization, it allows the user's browser and the payment gateway interface to process payments. A reputable recurring payment gateway will offer multiple payment options, include technology to minimize failed payments and easy integration with other business applications.
"As we see the increased use of subscription models, we must help companies lessen the risk of payment fraud which is prevalent in the subscription business," said Daniel Nadeau. "Payway has been processing subscriptions for clients for nearly four decades starting with the newspaper industry in the 1980's. We have learned to adapt, innovate and future proof for so many clients over the years, and now we are seeing the industry come to us."
About Payway
Payway is a proven payment service provider that helps card-not-present and subscription businesses simplify and accelerate transaction processing leading to improved cash flow and significantly lowering the costs associated with accepting recurring payments. Payway has decades of experience in managing card-not-present payments and provides their customers the most up-to-date security features. Payway built their user-friendly payment processing solution to be responsive to the needs of organizations who operate a recurring payment business model, like the many publishing and media companies they've served since 1984. For more information, visit payway.com
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Erin Farrell Talbot, Farrell Talbot Consulting, +1 9172329309, [email protected]
SOURCE Payway
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