NEWTON, Mass. — Paytronix Systems, the digital guest experience platform, has launched Paytronix Subscriptions, a component of its loyalty platform that allows any convenience-store brand to launch and manage a subscription program.
“Consumers are embracing subscriptions for everything from streaming services to meal kits to razor blades, but until now it’s been limited to offerings from major media and retail brands, and built on custom platforms,” said Andrew Robbins, CEO of Paytronix. “By removing the barriers to entry, Paytronix Subscriptions makes driving visits and incremental revenue from subscriptions accessible to all.”
Subscription programs are growing across the board with Americans spending $640 on average for programs including those from streaming media, meal kits companies and even food delivery. Additionally, 34% of Americans say that they will likely take on more subscriptions in the next two years. Consumers who choose subscriptions tend to be younger, and for 12% of them, having a subscription program was the key decision-making criterion for selecting a new brand.
“Restaurants and convenience stores are in the middle of a permanent pandemic-driven shift to digital ordering, and subscription programs have already proven to be a powerful purchasing and loyalty tool within ecommerce,” said Lee Barnes, head of data and insights for Paytronix. “By lowering the friction for consumer purchases, these programs strengthen the relationship between customer and brand while also providing the brand with recurring revenue.”
As part of the Paytronix digital customer experience platform, Paytronix Subscriptions consolidates all the technology necessary—from payments to emails, analytics and tracking—to launch and manage a program. Paytronix manages all the data behind subscriptions, which automates and streamlines the program and makes it easy for marketers to manage and use. Brands can identify which parts of their program are successful and then make data-based decisions on how to modify and improve those programs. These programs could include such options as unlimited monthly offerings, meal passes or per-item programs. Once a customer has enrolled, they are billed on a recurring monthly basis.
Paytronix Subscriptions includes customer targeting to encourage signups and a streamlined signup process designed to reduce cart abandonment. The Paytronix platform tracks recurring payments, automates messaging for reminders and manages rewards. In addition, Paytronix securely handles renewal processing and billing by managing tokenized credit cards. New emails are automatically triggered by subscription-related actions at the point of sale or by members. Brands can also leverage Paytronix’s analytics to track effect and return on investment.
Newton, Mass.-based Paytronix Systems powers the customer relationships for many restaurant, retail and convenience-store brands.