I don't know of any 3rd party solutions for that, but maybe others in the community have implemented something similar as custom development.
I can say that when I build my add on product it isn't going to involve any automatic charging of credit cards because in my opinion it is far too risky to persist customer credit card information in the database. The big boys like Amazon can do that because they have teams of security engineers to manage the security of their infrastructure and teams of lawyers to defend them in the case of liability. But I think most businesses should not do that for their customer's best interest and for their own potential liability if the data was breached or leaked.
The way I would do it is to automatically send an email invoice with a link where the customer can pay the renewal with probably a few reminders before their access is removed if they don't pay.