One of the ways for an ecommerce merchant to run a cost-effective business is using techniques for retaining existing clients. Following this strategy requires building long-term relations with customers, which can be achieved by various methods. One of the solutions for gaining customer loyalty is the implementation of subscriptions and recurring payments on an online store. With this approach, a store owner provides online shoppers with an option to buy goods and services repeatedly with periodical payments charged automatically. The recurring payment functionality is especially beneficial for businesses that sell products that often run out, like water, pet food, and others, or goods that are sold on a subscription basis, like newspapers and magazines.
Default Magento 2 doesn’t provide the possibility to utilize the subscription and recurring payments functionality. If you run your store on the default platform and want to accept payments on a recurring basis, you should consider installing an appropriate third-party module. One of such robust solutions is offered by Amasty – the Subscriptions & Recurring Payments extension for Magento 2. With the module, you can allow customers to buy all or particular products on subscription and receive regular recurring payments. This way, you improve the customer shopping experience on your web store by simplifying the ordering process for repetitive purchases. As a store owner, you get a convenient way for accepting recurring payments and save costs on acquiring new customers.
Below, we describe the main features of the Magento 2 subscriptions and recurring payments module.