An Adelaide-based startup is looking to make it easier for businesses to turn regular customers into recurring revenue.
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Co-founder Chhai Thach told StartupSmart Payhero is “filling the gap” left by services such as PayPal, Etsy and others by allowing businesses to set up and manage a subscription or recurring billing service.
Thach says he has experienced first-hand how difficult and time-consuming it is to send out membership or subscription renewals. In a previous job he would first customise the invoice, generate the PDF from the members’ database and then somebody else would print it out and post it in the mail. In all, it was a very laborious process.
“It’s an expensive task and for them to automate something like that would cost them thousands,” he says. “This automates the processes for the business as well as the customer. It frees up your time so you can enjoy things you want to do with your friends and family instead of worrying about the little things.”
The startup is in an early stage beta and plans to build up “a really strong brand” before scaling accordingly.
Thach says while smaller businesses and sole operators would benefit greatly from Payhero, the product is not aimed at a particular sector – big or small.
“All sorts of businesses can take advantage of this,” he says.