a Billing customer portal, which gives end users more control over their subscription payments experience. The portal, which merchants can set up in under an hour and can be customized to match company branding, allows customers to upgrade, downgrade, or cancel subscriptions, update their payment methods, and view billing history. Stripe can also update the portal automatically to reflect new card network or issuer policies and to add new features.
Though the subscription payments industry is on the rise, payment challenges persist. The share of customers using subscription services is growing: Prior to the pandemic, Insider Intelligence the industry would be worth $54 billion this year. But for merchants offering subscriptions, involuntary churn caused by payment fails remains a major issue, especially when customers' billing information or preferences change but systems aren't updated.
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