Product in preparation
Recurring payments
On-Chain Subscriptions – Direct Debit model on the blockchain
A module enabling recurring collection of payments performed on-chain. Ideal solution for SaaS, membership sites, and subscription services.
How the mechanism works
Contract terms
The customer sees clear rules: monthly amount, duration, and maximum authorization limit.
Consent (Allowance)
During the first payment, the customer accepts the limit for future collections under the contract.
Automation
In subsequent periods, the seller initiates the collection of the installment directly from the customer's wallet within the granted limit.
Full control
The customer can revoke consent at any time, which immediately blocks future collections.
On-Chain Subscriptions: Your favorite services paid with crypto (Automatically!)
We all know the subscription model from platforms like Netflix or Spotify – you link a card, and the fee is collected automatically every month. Payra brings this convenience to the world of blockchain technology, while eliminating intermediaries and complicated banking formalities.
Why is this solution better than a traditional card?
No 'frozen' funds
Unlike some deposits, here your money is in your wallet the whole time. You only grant consent for future payment, rather than giving funds as a deposit.
Privacy and security
You don't provide card number, expiry date, or CVV code. Your sensitive data does not circulate on the network. Everything is based on a secure connection of the wallet with the Smart Contract.
Transparency
Every payment is recorded on the blockchain. You can always check the subscription history and ensure that every unit went where it was supposed to.
No Chargebacks
For the seller, this means stability – once a transaction is confirmed, it is final, eliminating the risk of dishonest returns.
Key and fair rules
No frozen funds
Funds are not blocked either at Payra or at the seller. It is only consent for future collection.
Direct relationship
Payra is not a party to the dispute. Any claims the customer explains directly with the seller.
Finality of transaction
Blockchain guarantees no chargebacks. Every confirmed transaction is final.
Who is this module for?
* Ideal solution for business models based on customer retention.