HelixPay enables businesses in the Philippines to manage recurring revenues and subscription payments.
Many businesses offer products or services that are consumed on a regular recurring basis, and these businesses benefit from offering their clients payment options that enable automated recurring payments. HelixPay enables this for the Philippines for the 1st time.
The most important goal for Recurring Revenue or Subscription businesses that offer products and services consumed on a recurring basis is to maximize each customer’s 'lifetime value' - meaning the total earnings generated from each customer over the total lifetime of consumption of each customer.
The essential formula for a recurring revenue business is [# of customers] x [product price] x [customer retention rate] = [long-term revenue growth 🚀], where the success of the business is fundamentally driven by the customer retention rate, which is the percentage of customers that return on a consistent basis to purchase the business’s products or services on a repeat basis. Even a small change in this retention rate can have a large long-term impact on the value of a business. One of the most important drivers to improve retention rates is to offer easy recurring payment options. Even if a business’s products or services are amazing and customers love it, if it’s a hassle to repurchase, the business will lose a lot of potential revenue.
Offering easy recurring purchase options is very important for business success, but it is surprisingly difficult to build and manage. In the United States, there are companies that have specialized in offering technology for businesses to manage recurring payments and this has created enormous value. Until now, the Philippines has lacked a good solution, which has required businesses to force customers to make large expensive pre-payments for future services or to constantly chase after “postpaid” invoices that often remain unpaid.
HelixPay solves recurring payments for the first time for businesses in the Philippines. Our technology enables businesses to process and manage automated recurring payments from clients across a wide array of popular local payment options including credit cards from Visa, Mastercard & JCB, digital wallets like GCash, GrabPay, and Paymaya, and automated bank transfers from many of the largest Filipino banks including BPI, BDO, and Unionbank.
HelixPay is essentially a technology layer for recurring revenues and subscriptions on top of the underlying payment processing providers. Conveniently, businesses only need to integrate with HelixPay and we handle everything from collecting and saving customer payment information, processing payments on a regular automated basis, providing reminder and confirmation messages to customers, seamlessly handling payment method changes and other edits, and ultimately transferring paid revenues from many different channels to the business in a clear consolidated weekly remittance.
While we offer a no-code solution for businesses that prefer this approach, we also provide APIs that businesses can use to build HelixPay directly into their existing technology systems.