Three great ways to accept nearly any form of online payment are
Revecom -
http://www.revecom.com
2Checkout -
http://www.2checkout.com
and of course PayPal -
http://www.paypal.com
Subscription services can be set up to automatically bill at all three of these sources, and I have found that it is easiest to use PayPal and one of the other choices.
Of course there are more than the three choices above but those three names always seem to surface to the top in any discussion on ways to accept payment for subscription services such as web hosting.