iWallet® Brings Silicon Valley-Style Recurring Revenue to the $1.5 Trillion Home Service Industry

New Service Contract Tool Converts One-Time Payments into Recurring ACH, Boosts Valuations, and Solves Compliance Headaches

SAN FRANCISCO, June 17, 2025 /PRNewswire/ -- iWallet®, the fintech platform purpose-built for home service businesses, today announced the launch of a powerful new feature that enables contractors to easily sell and manage service contracts-turning mobile check deposits into automated, recurring ACH payments.

This release marks a major step in bringing Silicon Valley's recurring revenue model to the $1.5 trillion home service industry, helping HVAC, plumbing, appliance repair, and electrical companies create predictable revenue streams, improve customer retention, and increase enterprise value.

"Recurring revenue is the fastest way for contractors to increase cash flow and boost their company's valuation," said Jim Kolchin, Founder and CEO of iWallet. "We're giving them the tools to make that happen-without friction or legal risk."

The new iWallet feature includes:
- Recurring ACH Payments: Automatically converts check or card-based jobs into compliant, monthly bank debits.
- Mobile-First Selling Flow: Technicians can offer service plans during checkout or via follow-up SMS-no paper, no portals.
- Built-In Regulatory Compliance: iWallet intelligently adapts to each state's unique service contract laws, renewal rules, and cancellation policies.
- Investor-Ready Metrics: MRR, churn, and contract adoption are tracked automatically-equipping owners with valuation-grade data.

Previously, recurring billing in home services required manual workarounds or legal exposure. Now, with iWallet's service contract engine, business owners can scale MRR while staying fully compliant across jurisdictions.

"Most contractors are sitting on untapped recurring revenue-they just didn't have the infrastructure," added Kolchin. "iWallet makes it plug-and-play."

This feature is part of iWallet's mission to modernize payments, workflows, and revenue models across the home service space-making subscription economics accessible to even the smallest contractor.

About iWallet®
iWallet is a San Francisco-based fintech platform designed specifically for home service companies. From intelligent invoicing to AI-powered payments and recurring ACH billing, iWallet helps contractors get paid faster, stay compliant, and grow stronger businesses.

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SOURCE iWallet