Facepay Inc. announces a significant upgrade to its Relational Payments platform to meet the needs of the rapidly growing subscription economy. In this release, Facepay has added a subscription option to the core platform that provides a model for repair shop owners to offer their customers multiple levels of monthly service memberships. Available now at Facepay.io.
In today’s market, consumers are demanding subscription options from all their favorite brands. In a recent survey, Facepay learned that convenience tops the list of reasons for subscribing to a product or service. And, while the pandemic may have accelerated this trend toward convenience, it was already well underway. And now, subscription plans for automotive services are already becoming a sought-after commodity by motorists.
According to Dr. Mark Hale, Founder of Facepay, “Based on the research we’ve seen, if you offer your customers a subscription option, they are highly likely to buy it. In general, 72% of consumers prefer usage-based pricing, and 53% indicate that if their preferred brand offered a customizable subscription option to pay for the services they need each month, they would buy it.”
When asked what interested him in implementing a service subscription plan, Greg Buckley, Owner of Buckley’s Autocare, said, “Subscriptions help us to build more lasting relationships with our customers beyond one-off transactional sales, bringing them back to the shop regularly. Subscriptions, or memberships, also offer us a unique opportunity to increase the shop’s profitability by establishing a more predictable revenue stream.”
The newly added Facepay Subscription option of the Relational Payments platform lets shop owners create a custom set of monthly payment options and define which services are included in each membership level. And, although other systems currently support a subscription model, a unique aspect of Facepay’s offering is removing dependence on credit card processors to handle customer payments. Instead, Facepay’s disruptive technology supports secure and reliable relational payments directly between the customer’s bank and the shop’s.
The company will host a 1-hour webinar on Thursday, June 24 at 11 AM Pacific to launch this release. During the session, Dr. Hale will discuss how shops can benefit from this model. In addition, Greg Buckley will join Dr. Hale to share real-world examples of how he is moving forward with a subscription plan for his customers.
Facepay Subscriptions are available now. To register for the launch event, visit www.Facepay.io or call (800) 403-0221.