Inqud’s Crypto Recurring Payments Solution: A Quick Guide For Merchants

What Are Crypto Recurring Payments?

Subscription-based businesses pretty much run on recurring payments. We're all used to the traditional way, right? You link your credit card to a service, and they automate the charges from there.

Web3 recurring payments take that same core idea and just adapt it. Instead of using a credit card, customers simply connect their Web3 wallets to get charged in crypto. What this means is that businesses get a secure way to automatically bill for their services, using the digital assets a customer already has.

At the end of the day, it makes transactions happen smoothly in the Web3 space while keeping that familiar feel of automatic billing we all know.

Difference Between One-Time and Recurring Payments in Crypto

A one-time payment is exactly what it sounds like – a single transaction that you have to manually approve. For every purchase, you’re in the driver’s seat. You have to actively punch in the recipient's wallet address and the amount, and then you sign off on it with your private key. This puts you in complete control, as you authorize every single payment yourself. It's the most basic and direct function of pretty much any crypto wallet.

Recurring payments in crypto, as we mentioned, is when you pre-authorize a whole series of future payments just once. After that initial setup, the transactions just happen automatically.

Why You Should Consider Web3 Recurring Payments

These years recurring payments market is really taking off: it's set to skyrocket from around $4 billion today to over $66 billion by 2030 – that's what Precedence Research is projecting. When you see growth like that, it’s a clear sign that we desperately need better ways to handle payments – something more secure, efficient, and global than what the traditional systems can offer.

The old-school payment methods have had a good run, but they're just getting bogged down by high fees, customers dropping off by accident when a card expires, and all the headaches of selling internationally. Web3 recurring payments in crypto offer a powerful fix for these problems and open up some new doors for businesses.

Here’s a look at why you should consider integrating them.

Stop losing customers accidentally

You know how frustrating it is when a customer's payment fails just because their card expired or got cancelled? For subscription businesses, this is a huge, preventable loss of money. Web3 payments, on the other hand, are made directly from a user's wallet through smart contracts. That whole dependency on credit card details is gone, which means your revenue stream becomes a lot more stable and predictable.

Cut down on transaction costs

Traditional payment processors and credit card companies take a slice of every single transaction, usually somewhere between 2% and 4%. Over time, that really adds up and eats into your profits. Decentralized payment systems can bring those costs down to just a fraction of a cent. At scale, that's a significant amount of money staying right where it belongs – in your business.

Go global, instantly

What if you could reach a growing, tech-savvy market all over the globe in one go? By accepting cryptocurrency, you can. This gets rid of the usual hurdles for international customers, like high currency conversion fees or not having access to the right kind of bank. In fact, a recent report showed that more than 51% of people who hold crypto are more likely to buy from merchants who accept it. The demand is already there.

Boost security and end chargeback fraud

Security is a big advantage. Web3 transactions are cryptographically locked and stored on a blockchain, which is a permanent record. Because you no longer need to store sensitive customer credit card information, the risk of a data breach goes way down. What's more, the very nature of these on-chain transactions makes fraudulent chargebacks – a costly headache for so many online businesses – basically impossible.

Get ready for the future with programmable money

Using recurring payments in crypto is a genuine upgrade. Since they're built on smart contracts, they’re both automated and programmable. Businesses could finally roll out some really interesting models, like usage-based billing. Or how about sharing revenue with partners the second it hits your account or sending out royalty payments automatically? It’s really just about getting your business to speak the same language as the decentralized tech that’s beginning to run our digital economy.

Grow Your Business with Crypto Subscriptions

You know, the great thing about crypto subscriptions is just how flexible they are. You can actually use them in all sorts of different ways.

For SaaS & software, for instance, you can offer straightforward monthly or yearly access to your services. Got some exclusive content? You can easily put premium newsletters, video courses, or special reports behind a gate. They’re also perfect for community memberships, helping you manage token-gated access to things like DAOs or private fan clubs. And finally, there are recurring donations, which is a really solid way for creators and non-profits to get consistent support with low fees.

How to Start Using Inqud’s Crypto Recurring Solution

Let's get your Inqud’s Crypto Recurring Payments up and running. The whole setup is pretty straightforward – we've laid out the steps right here to make managing your payment processes a whole lot easier.

Why Choose Inqud for Recurring Payments in Crypto?

Here’s a quick look at why merchants are choosing Inqud.

Auto-conversion for peace of mind

Crypto prices can be a rollercoaster. Our auto-conversion feature fixes that by instantly swapping incoming payments into your chosen currency at the live market rate. This way, you always know exactly what you're getting.

A truly simple setup

Forget the tech headaches. We made our setup process incredibly simple. Your customers just go to a secure page we host to start their subscription and approve payments. That's it.

Your call on fees

When it comes to transaction fees, you're in control. You can cover them, pass them to your customers, or just roll them into the price. It's totally up to you.

All kinds of crypto supported

We already support a whole range of tokens (like Ethereum, Binance Smart Chain, and Polygon) for global payments. And since the crypto space is always changing, we're constantly adding new currencies so you're always set for what's next.

Start Accepting Crypto Recurring Payments with Inqud Today

It’s pretty clear the digital world is moving towards more decentralized options. For businesses, this means that using Web3 recurring payments is becoming a fantastic way to get ahead.

That's where Inqud could help – our platform is built to be clear and intuitive, so transactions just work. It’s all about keeping things secure and making the whole experience easy for your customers. You've got features like auto-conversion, fee structures that actually make sense for you, and support for a whole lot of different tokens built right in. 

Feel like it's time for an upgrade? Take a look at Inqud’s Crypto Recurring Payments solution today. It might just change the way you think about getting paid.