Migrating From Stripe to Recurly and Why It Matters?
Data migrations are never fun! aren't they? but why would you want to be at the direct mercy of a payment gateway?
If you are looking for a comprehensive guide to help you migrate from Stripe to Recurly, then keep on reading!
The transition from Stripe to Recurly can be complex and intimidating, especially if you don't have experience in the world of payments processing. However, with the right guidance and support, it doesn't have to be an overwhelming task.
In this guide, we'll explore the benefits of switching from Stripe to Recurly and provide step-by-step instructions on how to make a smooth switch. We'll cover specific topics such as setting up accounts, transferring data, and customizing settings. We'll also analyze the potential risks associated with making this transition.
Whether you're just starting out or already have an established business, this guide will help you make an informed decision so that you can make the best move for your company.
Outlines
- What Is Stripe and Why Migrate to Recurly?
- Preparing for the Migration From Stripe to Recurly
- The Process of Transitioning From Stripe to Recurly
- Benefits of Recurly Over Stripe
- Tips for a Successful Migration to Recurly
- Common Questions About Migration From Stripe to Recurly
What Is Stripe and Why Migrate to Recurly?
Stripe is a powerful online payment service that allows businesses and individuals to accept, process, and manage payments. With Stripe, you can send invoices, administer recurring payments, and store credit card information securely.
Recurly is another industry-leading payment service that offers similar features to Stripe but with enhanced capabilities such as subscription management, pricing flexibility and advanced reporting.
Even though, Stripe built a great platform out in the hopes you do exactly what you are planning, however with time you will get stuck using it as it's hard to change and will require code modifications to make that happen, plus potentially creates a complex data migration that you are not comfortable with.
The decision to migrate from Stripe to Recurly is an important one and can be seen as an investment in the future of your business. With Recurly’s advanced reporting tools and pricing flexibility you can better understand customer trends and respond to them quickly.
Additionally, its subscription management feature streamlines the handling of payment disputes and refunds, helping you keep cash flow steady even during times of disruption. By migrating from Stripe to Recurly, you can also benefit from better customer experience with streamlined sign-up processes that help reduce abandonment rates.
Preparing for the Migration From Stripe to Recurly
Migrating from Stripe to Recurly requires some preparation. To get ready for the move, you’ll need to check a few boxes, beginning with understanding the differences between the systems and planning for a successful transition.
Recurly and Stripe offer slightly different features and services, so it is important to become familiar with them before making the switch. Look at which subscription models Recurly offers, the credit card terms it supports, product catalogs, invoices and taxes necessary for your business. That way you’ll able to choose the services that work best for you.
You should also consider when to switch, ensuring there will be a minimum of disruption in your operations or service delivery. Migrate at a time that meets operational goals and does not coincide with seasonal demand or product launches. Additionally have a plan in place for making sure customers don’t suffer any inconvenience due to the switch.
The Process of Transitioning From Stripe to Recurly
When considering a switch from Stripe to Recurly, there are some important steps that must be taken to ensure a smooth migration. One of the most important processes is the data migration. This process involves transferring all existing customer information and payment processing data from Stripe to Recurly, which may involve converting stored customer credit card information into an encrypted format compatible with Recurly.
Migrating this data requires careful attention and accuracy, as any mistakes can cause disruption in customer payments and communication or even potential security issues. Fortunately, both Stripe and Recurly provide tools and support resources specifically designed to provide assistance with this process.
Once the data is properly migrated, your business will be able to benefit from Recurly's modern features, such as automated billing preferences, subscription management tools, multi-currency transactions and analytics tools with intuitive reporting capabilities.
If you're a Saas who wants to move their existing customer accounts, billing information, and subscriptions into Recurly. This data migration will occur in a single phase, here at Minelead, we have done this migration using Talend ETL, with a few simple steps
1 - You subscribe to the Recurly platform, and you enable Stripe as a gateway from within recurly, this way, you will continue using Stripe until you finish the migration with no impact, and you prepare the code change on your website to look for recurly instead of Stripe for the subscription management.
PS: You may need to look for both for the transition period.
2 - Recurly will provide you with a file they expect you to fill it, this file is very detailed to understand your customer subscription, dates, coupons, the interval of engagement, currencies, ... etc.
3 - You export the data from the stripe console of these 3 objects (full export): Customers, Subscriptions, Payments
4 - You develop the ETL job that can do this (Below image), to generate one file to send to recurly.
Benefits of Recurly Over Stripe
Making the switch from Stripe to Recurly can be a smart business decision. Not only is Recurly easier to use, it also provides more robust tools and features than Stripe, which can help you save time and money while ensuring customer satisfaction.
Recurly's integration with other services through webhooks, APIs and plugins is incredibly powerful. This seamless integration allows you to send and receive data across different platforms for a streamlined workflow. In addition, Recurly's powerful analytics capabilities can track customer activity in real-time so you can take proactive steps to improve customer service.
Features like Recurly's Automatic Payment Retries make it easy to ensure your subscribers don't miss a payment due date. This feature allows for automatic retries against failed credit cards, giving customers up to 2 additional attempts before their subscription is suspended or canceled entirely.
Finally, Recurly offers personalized payment links that are shared directly with customers - this makes subscribing much easier and gives you more control over the entire process. Plus, with Recurly’s secure payments network your customers can rest assured their sensitive data is being kept safe at all times.
Tips for a Successful Migration to Recurly
Migrating from Stripe to Recurly is a process that requires attention and consideration for both you and your customers. To ensure a smooth transition, there are a few tips you should keep in mind.
Prioritize Your Customers
The number one rule of migration is to prioritize your customers’ data. While you need to have proper processes in place and successfully complete the migration, your customers’ experience should be at the center of the move. Make sure that their subscription information, billing data, payment methods, and order history will transfer seamlessly over to Recurly.
Develop a Plan
A successful move requires careful planning, so it's important to make sure you have a plan in place before you begin transferring customer data. You'll need to map out each process involved - from customer data, to payment methods and order history - to make sure everything makes it across with minimal disruption of service or downtime.
Automate Messages & Notifications
You'll want to communicate with your customers throughout the process as transparently as possible. Automating messages can help streamline this process and ensure accuracy as well as up-to-date information for both you and your customers. Set up email notifications for yourself when one stage of the migration is completed so that you can accurately track your progress and identify any areas where something may have gone wrong.
With careful planning and effective communication, migrating from Stripe to Recurly will be a smooth journey for everyone involved!
Common Questions About Migration From Stripe to Recurly
Migrating from Stripe to Recurly can seem daunting. Here are some of the questions you may have about the process:
Will My Customers Experience any Inconvenience?
No, your customers will not experience any inconvenience during your migration from Stripe to Recurly. The entire process is seamless and is automated so that all customer data and payment information are transferred automatically.
Is There Any Setup Cost?
No, there is no setup cost associated with migrating from Stripe to Recurly. The process is straightforward and easy to use, so no additional assistance is required.
How Long Does It Take To Migrate?
The migration process usually takes a few hours, depending on the volume of data you have to transfer. The entire process is automated and guided, making it a breeze for you and your customers.
What Features Does Recurly Offer?
Recurly offers a suite of features that help businesses maximize their subscription revenue and optimize customer experiences. These features include metrics such as customer lifetime value (CLV), churn rate analysis, payment insights, segmentation controls, real-time data analytics, subscription management tools and much more.
Conclusion
Moving your subscription business to Recurly can be a difficult and stressful process, but the end result is worth it. All of the features and advantages you get from Recurly, such as its automated, flexible billing and its intuitive API, will dramatically improve the way you manage your subscribers and their subscriptions. The streamlined design and user experience of Recurly also makes it easier for customers to purchase and upgrade their membership with accuracy and confidence. With the help of this guide, you can make your move from Stripe to Recurly a smooth and seamless migration.
