Do you think a subscription product should accept crypto?

speedie · Mar 20, 2024

Hey guys,
Just wanted to hear your opinion on this:
Do you think a subscription product and SaaS business should accept crypto?

Don't just read the comments. See the poll and vote your experience

And if you say yes or no, let's know your experience.
If you have recommendations on crypto payment processors that automatically accept automatic recurring payments for WooCommerce, please et us know.

I have credit/debit card payment gateway. Just in doubt whether I should add crypto as a second option.

SirLouen · Mar 20, 2024

Sure, I have many services with Crypto on subscription. Problem is that payments don't go through and I have to keep checking emails. So basically you have to fine tune your email system, to remember hundred of times your users about the unpaid or the about to be due invoices. If you don't take care of this, you may end with most if not all unsubscribed users paying with Crypto. There are no real subscription systems with crypto because you need authorization per-transaction basis (not sure if any specific crypto has like a automated contract for this purpose). But basically services like Nowpayments and Boomfi simply take charge of reminding over email over and over again.

k2h2 · Mar 20, 2024

I plan to do this for my services but I do not expect my clients to like it. Not all of my clients use crypto, it is still not as common as a paypal subscription. But you can have it in addition to other options.

Checkmate Ads Agency · Mar 20, 2024

I think yes, it just make variety payments options for your customers

speedie · Mar 20, 2024

SirLouen said:
Sure, I have many services with Crypto on subscription. Problem is that payments don't go through and I have to keep checking emails. So basically you have to fine tune your email system, to remember 100 hundred of times your users about the unpaid or the about to be due invoices. If you don't take care of this, you may end with most if not all unsubscribed users paying with Crypto. There are no real subscription systems with crypto because you need authorization per-transaction basis (not sure if any specific crypto has like a automated contract for this purpose). But basically services like Nowpayments and Boomfi simply take charge of reminding over email over and over again.

Hmm, brilliant!
I have a system already set up in a similar way. It is the Cart Abandonment Recovery plugin that automatically reminds the subscribed customer via email, after x number of minutes and days that they abandoned their cart.

k2h2 said:
I plan to do this for my services but I do not expect my clients to like it. Not all of my clients use crypto, it is still not as common as a paypal subscription. But you can have it in addition to other options.

I have other options for sure including credit/debit card for my SaaS. Just the crypto option is my doubt. Let's hear what others would say.

Checkmate Ads Agency said:
I think yes, it just make variety payments options for your customers

Indeed. Do you think it may reduce customer Life Time Value?

xelaa · Mar 20, 2024

Depends on the industry because if your SaaS is in a techie field the probability of customers having crypto is likely. Could smart contracts make it where recurring is possible?
For my customer I just offer a discount if pay in crypto but need to sign up for bi-annually and so on.

Do you think a subscription product should accept crypto?

Do you think a subscription product should accept crypto?

Yes, but I may lose such clients gradually as automatic recurring payment is not possible in crypto.

Yes, I am actively accepting crypto for my subscription product and I never lose such clients.

Hell No, it cripples your earnings as the customer Live Time Value decreases in the long-run.

No, thanks. I am a merchant and this has already crippled my earnings.

speedie

Elite Member

SirLouen

Elite Member

k2h2

Elite Member

Checkmate Ads Agency

Regular Member

speedie

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xelaa

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