E-commerce is booming in the country . Taking the lead from behemoths such as Flipkart and Snapdeal and adding your own unique flair or business acumen into the mix has become pretty popular among the rapidly growing Indian entrepreneurial community. However, getting a fully fledged e-commerce platform up and running is not everyone’s cup of tea. There are simply too many variables involved. Startups like RecurRex have set out to simplify some of these complications.
RecurRex is a Subscription as a Service platform for e-commerce portals. The startup allows businesses that require their customers to make recurring payments over a period of time — or till they continue availing the services provided — to automate the whole process. So basically, the platform lets new and existing eCommerce websites automate recurring billing and payments. All without a line of coding or any other effort on the service owner’s part.
RecurRex also provides its clients with the facility to avail monthly per-user billing system and low initial fees, which can allow even the most cash-constrained businesses to take up its services. After all, since you pay only for users who subscribe, this leads to a win-win situation for everyone involved.
RecurRex thus allows startups to divert the funds they would otherwise be putting in building and maintaining a subsription service to other, more fruitful areas. Such as marketing, R&D and so on. The company is also very keen to propel the growth of the business model it heralds.
Convenience and discounts for the consumer, better cash flows, inventory management and customer loyalty for businesses. We truly love this business model and want to propel it, starting in India.
The company is also well ahead of its competitors with respect to the service it can provide to its clients. While there are other Subscription as a service providers in the market, many of them lack the commitment displayed by RecurRex. Apart from providing subscription based services, RecurRex also caters to the marketing and logistics side of the things by providing actionable data and tools for the subcom model.
For example, it provides its clients with all sorts of actionable and valuable data, including total deliveries, total payments received. It can also compare the income generated through the subscription based model as compared to that generated through other channels. The company also has a very transparent policy upon handling client data and all of it is always under the client’s control.
And of course, the company also takes into account what it refers to as the “special needs” of the Indian market.
Speaking with The Techportal, RecurRex’s Director of Customer Experience, Louis-Vincent Ledoux, said
Indian subscription businesses have special needs that other subscription platforms are unable to meet; delivery and recurring payments management being the two most important. Indian subscribers require the ability to postpone deliveries, update delivery addresses or pause and resume their subscriptions. In the US, where the model originated, packages will find their way to a local post office to be collected later if its recipient isn’t home.
He also added that contrary to the US, Indian regulatory bodies (including the RBI) have not provided options to automate recurring debiting on Indian credit cards or Indian bank accounts. RecurRex has made special provisions, taking this situation into account.
RecurRex has automated this process as much as it is legally possible with its SMS 2 Pay functionality.
Meanwhile, as far as the potential of usage is concerned — Well, from milk to magazines, there is no dearth of things that need to be renewed from time to time. RecurRex has set out to ease this very process for the Indian e-commerce ecosystem. The company is based out of Bangalore, and has a mixture of Canadians and Indians as the driving force behind the service.
The company was recently selected as a 2016 Red Herring Top 100 Asia Winner.
The RecurRex application is built using an API which lets its users to convert their eCommerce portals into a subscription model, quickly and with minimum pain. So if you think you have something that the Indian masses would want to order again and again, well, you know who to go to.