Gain Predictable Recurring Revenue with Prepaid Subscriptions

You can now provide your customers with a new subscription type: Prepaid. Our latest core functionality allows you to create prepaid usage-based billing models providing a safety net for your recurring, predictable revenue. This new subscription type works with either metered or events-based components, giving you full flexibility on how you want to charge and how your customers want to use and pay for your product or service. Your customers can gain peace of mind with a true value-based pricing model where they pay in advance for usage they will decrement against as they use your product or service. 

With real-time visibility, both you and your customers benefit from always knowing the exact state of funded balances and usage against those balances. In addition, auto-replenishment is an option so that your customers can decide when to re-up their balance after hitting a specifically defined threshold, that is set at the customer level, not the product level. This added level of customization provides you the ability to provide a white-glove service approach to your customers. 

Prepaid Subscriptions also come with sophisticated notification workflows that can keep all or some of your customers in the know of where they stand with their prepaid usage. Customers always know what usage they have paid for with invoices generated at the end of each renewal period.

For more information on Prepaid Subscriptions, see our documentation here>  

Accounts Receivable Report Now In General Availability

The A/R aging report we announced two months ago is now available. 

You can now track customers' outstanding balances and credit balances using the Accounts Receivables report. This report tracks customer balances down into invoiced amounts, payments, refunds, prepayment balances, and unapplied credits. 

It is also possible to use the Accounts Receivable report to measure outstanding balances and make provisions for doubtful accounts. You can also use this report in tandem with the Revenue Retention report to manage overdue accounts and to identify unpaid invoices that can be paid by allocating existing balances. 

For more information on the Accounts Receivable report, see our documentation here>

Chargify + BlueSnap Integration

As you continue to grow and expand, having access to the right payment gateways is key. To support your payment needs, Chargify has partnered with BlueSnap - a payment gateway specializing in global payments.  

The Chargify and BlueSnap integration allows you to process credit card and ACH transactions in the following initial currencies:

  • USD 
  • CAD 
  • GBP 
  • AUS 
  • ILS 
  • EUR

The next step in the integration is to include the BlueSnaps Account Updater functionality, which proactively keeps credit card number and expiration dates up to date.  

If you are interested in using BlueSnap as your payment gateway or you have a BlueSnap account that you would like to link with Chargify, contact Chargify Support or your Customer Success Manager. 

For more information on the BlueSnap integration, see our documentation here >




Know More With Our New A/R Dashboard

Closely tracking and understanding your accounts receivables is top of mind for many B2B SaaS companies. To ensure you have the top A/R indicators at a glance, we have rolled out a new A/R Dashboard! This dashboard includes information on:

  • Outstanding Invoices
  • Average Days Outstanding
  • Number of Outstanding Invoices
  • A graphical representation of you aging by number of invoices and balances
  • A sortable outstanding invoice list that can be viewed by Invoice Due Date, Product, and Dunning Status

If you are interested in leveraging the A/R Dashboard, please contact your Customer Success Manager or Chargify Support.

For more information on the Chargify A/R Dashboard, see our documentation >

Enhanced Product Specific Dunning

It is now possible to configure your dunning communications based on the products you are selling - allowing you even more control and flexibility when communicating with your customers.

Product Level Dunning allows you to specify different dunning content and schedules depending on the product being sold. This enhancement also works well with the existing customer type dunning and dunning exemption functionality. With this you can now take into consideration different product specific risk profiles or engagement requirements - giving you the most flexible dunning yet. 

If you are interested in leveraging product level dunning, please reach out to your Customer Success Manager or Chargify Support.

For more information on product level dunning, see our documentation >

Chargify + Forte Team Up!

Chargify is partnering up with one of the biggest payment industry leaders to help you scale your payment solutions. The initial release will offer Credit Card processing, ACH (US merchants) , and EFT (Canadia merchants). 

Click here to see how you can leverage Forte for your payment collections.

To have your existing Forte account turned on within you Chargify account, please contact your Customer Success Manager or Chargify Support.

For more information on the Chargify + Forte Integration, see our documentation >

Add More Payment Options with Adyen

As your business evolves, having access to the right payment gateways in the right locations is key. Chargify is now integrated with Adyen for credit card processing in the US, Canada, Europe and Australia. Many customers choose Adyen because of their large European coverage and presence. They also offer a risk management system and act as an acquirer as well. 

Part of the Chargify to Adyen integration is the out of the box support of 3D Secure 2, which ensures compliance with the latest authentication regulations in Europe. Our support of 3D Secure allows you to reduce your fraud risk and enables a customer-friendly authentication for public signup pages, self service pages,  and your Chargify-hosted page. 

Initial Adyen Support Coverage Includes:

Payment Methods

Geography

Currencies

Credit Cards

USA, Canada, Europe, Australia 

AUD, BRL, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, INR, JPY, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, USD, ZAR

If you are interested in turning on Adyen in your site, please contact your Customer Success Manager or the Chargify Support Team.

For more information on all of our gateways that support 3D Secure see our documentation

Control Your Variables with Prepaid Usage

You can now automate your prepaid usage billing scenarios with Chargify!

Prepaid usage allows you to maintain a recurring, predictable revenue stream while still allowing your customers to be charged based on consumption. This is achieved through an upfront fee that is based on a quantity (or prepayment) sometimes thought of as a commitment. Your customer then draws down against their commitment. Once their entire commitment amount is used up they are charged overage fees at a ‘burst over’ rate..Overage charges are then calculated and included in your customers regular billing cycle and invoice, this allows you and your customer to maintain a single source of truth on what they are consuming and being billed for.

With prepaid usage, your customers' prepaid amounts can 're-up' every month (I commit to 50 server hours each month) or can extend out for longer periods of time (I commit to 550 server hours for the year).

Companies often move to prepaid usage models because they can incentivize their customers to increase upfront commitments or prepaid quantities, by offering a reduced price point for prepaid units or an increased rate for overage units. It is also possible to allow your customers prepaid quantities to expire or roll over to a following period.

Our Chargify prepaid usage functionality also supports your revenue and accounting compliance needs. As your customer consumes their prepaid amounts, Chargify tracks their consumption for appropriate revenue reporting and recognition. This is all handled with a single component in the Chargify system, reducing the complexity of setup and maintenance for your team.

To turn on prepaid billing model support in your Chargify environment, contact your Customer Success Manager or the Chargify Support team. 

To learn more about the prepaid usage billing model, see our documentation >



Multi-Currency per Site

It is now possible to sell in multiple currencies within a single Chargify site! This change greatly reduces the overhead you experience from selling internationally!

With Chargify’s new multi-currency functionality you simply specify what currencies are available on each of your sites, configure your pricing, and allow your customers to sign up for products and services in those currencies. No more managing multiple sites or multiple product offerings (as required by some billing systems) just to achieve multiple currency support.

Setting up you Chargify Site for Multi-Currency

Once multi-currency is enabled, simply select which currencies you would like on your site. Chargify will leverage currency exchange rates (FX) for reporting and optional price conversion. When specifying your selected currencies, it is important to select which FX rates you wish to use. You can either input your own FX rate per currency or choose to have Chargify maintain the FX rate on your behalf. If you choose Chargify to update the FX rates, the Chargify system will use ‘Open Exchange Rates’ to update all required FX rates on an hourly basis. 

When setting up your site, you will also be asked to specify your sites default currency. This currency will be the bases for the FX conversion and will also be the currency for all site reporting.

Multi-Currency and Your Product Offering

Once the currencies are specified at the site level, you are able to define your product and component level pricing. Product Catalog currencies are defined within the price point. This eliminates the requirement for Product bloat or catalog proliferation just to support different currencies. With currencies at the price point level, you can specify specific prices in each of your supported currencies. Alternately, you can set your base (default) currency and choose to use FX to calculate the prices in your other currencies. 

When setting up your pricing per currency, we recommend setting specific prices rather than leveraging the exchange rates. Setting specific prices eliminates any FX related pricing fluctuation and ensures stable prices for the life of your contracts.

Multi-Currency and Your Customers

Now that your product catalog is configured, customers can simply subscribe to your product offering in their desired currency. Each subscriptions currency will now be set at the time of subscription creation and cannot be changed. It is, however, possible to have subscriptions with different currencies under the same customer account. This is very impactful when selling to a single organization across geographies and cuts down on a massive amount of overhead when managing your customer base.

Multi-Currency and Your Reporting

Much like cross-site insights, the specified FX rates will be used to transform all revenue and payments into the base currency for reporting purposes. Which FX rate used is based on your site configurations.

To get multi-currency turned on for your site contract Chargify support or your Customer Success Manager.

For more information on how multi-currency works, see our documentation >



How to test & implement 3DS workflows for PSD2 compliance

PSD2 has created a lot of chaos in the billing world. Some banks weren’t ready, some businesses weren’t prepared, and some countries even pushed the deadline.

We’re happy to report that our team was able to meet the September 14th deadline and already have a number of customers that are using the updated 3DS workflows to be PSD2 compliant.

Over the past few days, we’ve increased our 24/7 on-call team to address any customer needs that pop-up and will continue this throughout the week until we ensure that any merchant needing compliance is compliant.

A big shout out to our support and development teams who have been working around the clock to help our merchants make the transition!

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