I was wondering if there's a good way to setup some kind of scheme with Stellar to implement recurring payments without resorting to e.g. escrow accounts with pre-arranged timed transactions.
I've seen some interesting hacks with e.g. payment channels on stellar but this one seems a bit more challenging. This would be awesome for any type of SAAS business where the whole point is recurring revenue without hassle for either side.
Requirements would be:
- should be easy to setup and explain to end users
- agree once, and then regular payments should happen automatically until the agreement is cancelled. Or alternatively, pre-sign e.g. 12 or 24 timed transactions.
- it should be possible to cancel for the user
- ideally, it should be possible to have other transactions in between on the same account. Having to have dedicated account key pairs per subscription would create a lot of hassle/friction and kind of defeats the purpose of convenience.
- it should not be necessary to have more funds in the account then needed for the next payment.