epay has announced additional launches for Renewal, its recurring billing solution. ePay is the digital payments processing business segment of global financial technology solutions and payments provider Euronet Worldwide. This expansion includes the following channel partners and countries: Harvey Norman in Australia, Altibox Nordics, Cyberport and MediaMarktSaturn Retail Group in Germany. Etisalat UAE, the telecoms pillar of e& (formerly known as Etisalat Group) and Sharaf DG in the UAE, Singtel in Singapore and additional retailers in Mexico. More countries and retailers are already being planned and will be announced when available.
Converting to a digital subscription model
Renewal enables companies and brand partners worldwide to easily convert their digital products to a subscription model. Furthermore, brands can sell them at epay’s global network of retailers, telecommunication companies and mobile wallet partners. There is more than 760,000 point-of-sale terminals in 63 countries. The company says this generates a forward-looking and sustainable revenue model for brand and retail partners. This is achieved by turning a one-time transaction into 12, 24 or 36 transactions. Retailers also benefit from a single connection with epay to leverage and distribute multiple subscriptions from respected global brands. Consumers can purchase subscription-based digital products from their preferred provider and use them conveniently on a mobile device or PC.
“With this expansion for Renewal and our brand partner, Microsoft, we are proving the great potential of our new strategic business area while demonstrating our global sales power and the attractiveness of this digital solution,” said Kevin Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division. “For our partners, this contributes to long-term consumer relationships and future-proof revenue models. Based on our innovative technology, our existing relationships with more than a thousand brands and our global merchant network, we will continue to successfully expand Renewal and its recurring billing solution.”
Enterprise Times: What this means for business
Subscription models are proving increasingly popular with brands, as a means to utilise digital channels to sell products. Retailers appreciate the effective cash flow subscription models provide. Brands as diverse as Hotel Chocolate to dog food retailer tails.com have successfully developed subscription services for their products. epay’s launch of renewal comes at an opportune time for brands and retailers. The company has built an extensive network of retailer touchpoints which connects brands with consumers all over the world. epay offers a diverse ecosystem of services, products and solutions supporting the distribution of payment and branded payments for more than 1,000 partners via Commerce, eCommerce and mCommerce solutions.
