Confirmo targets subscription economy with launch of stablecoin recurring payments

Confirmo has launched a new tool called 'Subscribe' that allows businesses to accept recurring payments and subscriptions using stablecoins. This technology integrates directly into your existing payment stack, meaning you don't need to replace your current processor to start offering digital currency options. For retailers and service providers, this opens up a new way to collect automated payments without the traditional volatility associated with Bitcoin or other cryptocurrencies. Stablecoins are pegged to the US Dollar, providing the speed of blockchain with the price stability of cash. This release is particularly relevant for businesses looking to attract tech-savvy customers or international clients who prefer digital assets over traditional bank wires. The system handles the automation, so you don't have to manually request funds each month. It functions similarly to a credit card recurring charge but operates on blockchain rails. By adopting this, operators can potentially lower transaction fees compared to high-end credit cards and eliminate the risk of chargebacks, which are common in traditional subscription models. As the 'subscription economy' grows, having a diverse range of payment methods helps reduce churn and increases conversion at the point of sale.

Source: Finextra — Lending

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