Noida based Spayee, a knowledge commerce platform, which lets creators create, market and sell their courses online through their own white labelled course platforms, has launched India’s first recurring payment subscription model for its customers to collect recurring payments against their course sales.
Spayee aims to serve as a strong online course creation platform for the creators, where building a scalable online course business is quite conveniently possible. It has been consistently providing its users with new updates & enhanced experience. With the current one-time payment model, creators were not able to generate steady recurring revenue and they were also struggling in holding users for long terms and generating revenues from them.
With the launch of this new feature, course creators can charge course fees like membership subscriptions where learners would have to pay monthly, weekly or annually. Subscriptions bring in recurring revenue which is a more reliable and predictable stream of income than one-time payments. Creators who update their content regularly or want to build a community for their users rather than just process single transactions can start offering subscription based accesses.
To mention a few, creators like fitness trainers, food bloggers, yoga instructors, dance & music trainers, coding trainers or any other training programs which involve continuous communication, ongoing webinars or personal coachings can use a subscription-based model.
“The beauty of the subscription model is that you work on creating long-term recurring revenue, rather than immediate one-time transactions for products & services”, says Subilal K – Co-founder, Dailyskills – an e-learning marketplace powered by Spayee, which helps in learning skill development courses.
“We are glad to introduce India’s first recurring payment subscription model for our customers since the majority of our consumers were demanding this type of payment model. The idea is to help the customers and merchants engage in an ongoing relationship with their customers, rather than a one time purchase. Currently, we have launched the beta version of the model and the feedback has been fantastic”, says Sandeep Singh, Co-Founder, Spayee.
So far, Spayee has served 1,000+ creators globally. The feedback on the Subscription feature has been overwhelmingly positive and more than 50 customers have already started using it in the beta phase.
The feature is now available to all the users. Along with this, now Spayee customers will also be able to customize post-payment Thank you pages too.