There’s no tooling for recurring payments on Polkadot, but I think it could be useful for SaaS, node/RPC services, and DAO dues.
I was thinking about a project to build and what came to mind is a decentralized system for managing subscriptions, where users could see all of their subscriptions in one place and manage them there. Anyone who wants to accept crypto (mainly stablecoins) as payment could integrate with it, so besides the recurring payments pallet I think a simple web application for integrating with it would be enough.
The idea is that the user authorizes a payee to pull a monthly fee for a set period of time, with a few constraints checked on each pull:
- the user has enough balance
- the authorization hasn’t expired
- the pull doesn’t exceed the amount agreed
Ideally this would be the kind of thing companies normally do with Stripe, but with stablecoins on Asset Hub.
I’m thinking about proposing a small referendum for this project. What do you all think about this idea?