Hi, I am needing to set up monthly recurring subscriptions via paypal express, infusionsoft and woocommerce subscriptions but I have heard that I may need to contact paypal to enable something called “PayPal Reference Transactions for Subscriptions”, does anyone know if this is an easy process as I have also heard that paypal can require the following: (Any other ways around this?)
I already have a paypal business account but just need to collect monthly subscriptions using the tools above.
*High personal credit (FICO) score for US based PayPal Business accounts
*Average transaction price
*Number of repeat customers
*Number of Reference Transactions per customer
*Revenue forecast and/or projected total revenue volume from Reference Transactions
*Demonstrate a clear business rationale behind the request
*Show the signup flow for customers in regards to Reference Transactions.
*Proof that you will show clear terms and conditions for customers in regards to Reference Transactions and how to cancel once they sign up.
*Written statement as to why you need Reference Transactions and how you will use it for your business.
In terms of revenue forecasts, we have had reports that UK based PayPal accounts may require minimum forecast of £6,000 month or more revenue.