Crypto payments for subscription based SAAS products. Thoughts?
Hey,
First time posting here. Absolutely love this community.
Have you guys tried using cryptocurrency for subscription-based SAAS products before? I've done a fair bit of research and it seems that the only way this can be achieved is by using a prepaid system. i.e. you recharge your balance by making a crypto payment. You can use a 3rd party processor, but this is probably how they'll do it too.
The downside of this method is that it creates friction. Unfortunately, none of the most popular cryptocurrencies support true subscriptions just yet. Not sure if that's even within their scope? Maybe it could be achieved by an Ethereum smart contract. But I'm a bit of a novice in this field.
Would love to hear your stories.
Thanks!
Amost all cryptocurrencies are a fork of bitcoin ( besides DAG's and other chains with alternative consensus mechanisms) - bitcoin was designed as electronic cash - sending value one way is part of the design.
Subscription payments wouldn't work well if you aren't able to reverse the transaction somehow.
Hey Omar,
Have you checked out cheq.xyz, we are building an e-commerce style checkout for stablecoin. If you have a SaaS use-case i'd love to chat to you and see how we could help.