Best Subscription/Recurring Billing Solution
Payway is the only company to win more than two awards this year. The Boston-area payments provider specializing in recurring billing technology was chosen by an online vote of customers in the Best E-Commerce Platform/Gateway category and it swept both awards in the Best Recurring/Subscription Billion Solution category.
Payway has its roots in the publishing industry, where subscriptions have been a viable model for decades. The company has worked with recurring billers for 35 years and has adapted its technology as products of all kinds, from personal grooming to food preparation to video and audio streaming to clothing, leverage the predictability of recurring revenue streams.
The company says its solution uses Account Updater to automate the process of identifying outdated credit card data that can result in declines of recurring payments. Payway claims Account Updater saves its average customer 85 percent by over updating card information manually. Its processing platform also identifies card and transaction types enabling it to optimize interchange rates.
“Our customers rely on us to process their transactions safely and securely,” the company said. “They trust our solution, our integrity, our industry knowledge. After all, the less time they spend thinking about payments, the more time they can spend on their business.”