There are many businesses/services that run under a subscription model
The current subscription model works by you giving companies the power to withdraw funds from your debit and credit accounts at set dates each month. Many of these models enable you to pay monthly but tie you in to an annual contract and if you want to leave that contract part way through they have the power to withdraw the remaining months funds from your account, which means you're trapped into a contract even if the company is delivering a bad service.
This model is difficult to implement in crypto because companies don't have direct access to your money.
DASH is in a perfect position to offer a subscription feature for merchants in which the following takes place.
This method puts the customer back in control and enables a subscription model with DASH.
The current subscription model works by you giving companies the power to withdraw funds from your debit and credit accounts at set dates each month. Many of these models enable you to pay monthly but tie you in to an annual contract and if you want to leave that contract part way through they have the power to withdraw the remaining months funds from your account, which means you're trapped into a contract even if the company is delivering a bad service.
This model is difficult to implement in crypto because companies don't have direct access to your money.
DASH is in a perfect position to offer a subscription feature for merchants in which the following takes place.
- The customer signs up to a subscription service (the company could offer a special rate for new customers)
- The customer agrees that the company can send them a payment request via push notification to their wallet on a specific day each month/week for the following months/weeks subscription (no yearly tie in). A message can also be sent with the request e.g. "Important: You will not receive the discounted price if you leave and rejoin"
- The customer has 24 - 48 hours to respond to the payment request
- When the customer receives the payment request they simply press the "Pay Now" or "Don't Pay (Unsubscribe)" button and that's it.
This method puts the customer back in control and enables a subscription model with DASH.