Calypso Pay, an all-in-one crypto processing & acquiring platform, implemented support for recurring payments and subscriptions in crypto.
Zuora’s Subscription Economy Index report reveals that the subscription economy grew by more than 435% in almost a decade. UBS Wealth Management and Bernstein estimate that the subscription economy will be worth $1.5 trillion by 2025. The crypto industry is lagging behind as most of its products and derivatives are sold outright, and merchants can’t easily tap into an existing ecosystem of infrastructure solutions.
Calypso Pay allows merchants to sell goods and services by collecting recurring payments and subscriptions in cryptocurrencies, including USDT (including Polygon), USDC, BUSD (on Ethereum), FRAX, and DAI, in regular intervals. Calypso Pay takes care of subscription management and the underlying smart contracts and eliminates all the challenges.
Calypso Pay’s core platform enables merchants to receive payments from clients quickly and securely and withdraw them to their wallets or bank accounts or directly pay their partners or workers. Clients can create invoices and/or use a payment widget to accept payments, initiate payouts for individuals, or make payments to up to 1000 recipients simultaneously.
Calypso Pay provides one of the fastest transaction speeds with low commissions across the market – over the year, the platform processed $850 million, and its clients performed almost 1 million transactions. The platform now supports 14 main cryptocurrencies representing 80% of the global crypto market cap, including USDT (ERC-20, TRC-20, and Polygon), BTC, ETH, USDC, MATIC, BNB, and BUSD.
“Subscriptions payments are the most reliable monetization option for businesses and creators”, says Alexey Korneev, Operations Director. “We had to solve multiple challenges in order to implement them in crypto and provide a smooth experience, and now we’re excited to offer this functionality to our customers”.
This summer Calypso Pay has dramatically increased the number of cryptocurrencies merchants can accept and has launched Tron Mass Payouts in partnership with WatchData, a platform that helps web3 developers seamlessly interact with the blockchain. The solution allows customers to quickly set up Tron payouts to tens of thousands of addresses while saving time and money on fees.