Head of Product Innovation Jordan Fresco discussed
how to reinvent the subscription payment journey
To kick off this year’s highly popular VivaTech, SlimPay’s Head of Product Innovation Jordan Fresco took the stage to share his thoughts on the subscription payment journey.
The three-day event, which started Thursday in Paris, is dedicated to showcasing innovation from around the world — with more than 450 speakers scheduled and 100,000 visitors expected to attend.
Here are three takeaways from Jordan’s talk on the AWS stage:
1) What are merchants’ current pain points?
The paradigm shift from ownership to usage has resulted in many merchants changing their business models to a subscription-based one. This change, while satisfying the demands of consumers, has introduced a new host of pain points:
- Poorly optimized UX for subscriptions
- Inconsistent collection of payments
- Customers abandoning the checkout process
- Time-consuming financial reconciliation
2) How SlimPay can help
So how can merchants solve this? At SlimPay, we believe that the solution lies in offering a diverse mix of payment means as well as knowing your customer. Our product, developed with the merchants’ pain points in mind, offers these features to ease your payment journey:
- An optimized subscription and payment experience
- Right payment mix for your needs
- Reduce churn and increase conversion rates
- Maintain control over payments with better predictability
3) Find the right technical partnership
Of course, the key to all of this is making sure we have the right technical foundation to scale. Similar to many scale-ups, we were experiencing hyper growth and wanted to find the right partner to help us strengthen these key areas:
And that’s where AWS was able to help us. The partnership opened up bandwidth for our team to focus on product innovation and our mission: reinventing the subscription payment journey.