Litle’s ‘Recurring Engine’ Streamlines Subscription Billing for Merchants
Nov. 7, 2013
Litle & Co., the e-commerce processing subsidiary of Cincinnati-based acquirer Vantiv, yesterday launched its new Recurring Engine for card-not-present merchants that want to take advantage of the increasingly popular subscription sales model. Litle said its Recurring Engine provides a single solution for merchants that want to charge for an ever-expanding array of products on a periodic—and continuing—basis. Offering a comprehensive solution for these kinds of merchants is becoming more and more important, said Bill Cohn, principal product manager at Litle & Co.
“Opportunities that we have for driving revenue for our customers are heavily focused on merchants that are doing recurring billing,” said Cohn. “Within Litle’s client base, about 70 percent of merchants are doing some degree of recurring billing and around 50 percent are almost exclusively recurring billers.”
The Recurring Engine combines with Litle’s Recovery Solution to give merchants the flexibility to bill their customers how they want while providing them a way to minimize problems that might crop up if the automatically recurring billing attempt is unsuccessful, Cohn explained. Litle has offered its recovery services for more than two years. The Recurring Engine completes the puzzle, Cohn said, by making it simple for merchants to establish a recurring billing program and offer their customers different options.
“We’re trying to make it really easy for merchants to try different business models, to try different offers, to measure the effectiveness of those offers and then integrate it with their recovery needs,” Cohn said. “If you don’t handle the upfront piece and only concentrate on recovery, you’re leaving the merchants with a lot of coding to do or to seek a third party. Most merchants think it isn’t too hard to bill once a month on the first of the month, but as soon as they want to do something like offer a discount or promotion or make changes to the billing cycle, it gets complex quickly. They need the agility to try different business models to reach the sweet spot in their market.”