Recurring billing is a payment system that allows businesses to automatically charge their customers on a regular basis. This can be a convenient and efficient way for businesses to receive payments, as it eliminates the need to manually process payments and helps to ensure a steady stream of revenue.
There are several types of recurring billing models that businesses can use, including subscription-based billing, membership billing, and installment billing. Subscription-based billing is commonly used for products or services that are delivered on a regular basis, such as monthly magazines or streaming services. Membership billing is typically used by businesses that offer access to exclusive content or perks, such as gyms or online communities. Installment billing is often used for large purchases that are paid for in installments, such as home renovations or car loans.
One of the main benefits of recurring billing is that it can save businesses time and resources by automating the payment process. It can also help businesses to better predict and plan for their revenue, as they can more accurately forecast their future earnings based on the number of active recurring billing accounts.
For customers, recurring billing can offer convenience and flexibility. They can choose the payment frequency and amount that best suits their needs and can easily update or cancel their subscription at any time.
Overall, recurring billing is a valuable tool for businesses and customers alike. It can help businesses to streamline their payment processes and improve their cash flow, while also offering customers the convenience and flexibility they need to manage their payments.
Building a business presence online is very critical to not only grow, but to survive in today's marketplace. We provide a way for your customers to pay for items and services directly through your website.
We Pay You for Using Our Software. Earn rebates for each payment you receive through our software while we combine your payment processing, invoicing, and reconciliation all in one. Not only do we simplify things for your API, but you also get paid for it!
Our card processing service automatically fills in rate sensitive information on your credit card transactions to get a lower cost. The gateway that we provide has a ton of great reporting features as well that you can access online. Payment gateways are a great solution for B2B and B2G companies to accept credit card payments.
Our gateway also allows you to charge your customers a convenience fee through the cash discount program. This will help off-set your transaction fees.