recurring billing - a brief guide
Post on 13-Apr-2017
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Recurring BillingA brief guide
Recurring billing allows a merchant to receive payments automaticallyon a regular basis. Subscriptions, memberships and a regularly updatedservices are popular outlets for this. Subscriptions can range fromphysical goods such as magazines and snack boxes like Graze, oronline services like movie and TV streaming services.
Introduction
A payment period is a space of time in which the payment sum is
deducted from the customer's account. If a transaction succeeds, this
is considered successful. The customer creates a profile, where the
outline of the service and its structure is stated and can be monitored.
The term agreement states how long the scheduled payments will go on
for, and this can be open ended or have a specific amount of time
before it expires. Pending payments are ones that are due at the agreed
dates, often in installments.
How does it work?
Netflix uses this feature, as well as the adult industry in their
subscription services. Certain rules apply for cancelling and a deadline
before a customer will be charged again. Active subscriptions are still
running and the customer will still be billed as agreed by the contract.
Payments will stop being taken once the account has either expired or
is cancelled. These two are completely different, but both mean that the
customer will no longer be billed. Expired means that the contract has
ended, and cancelled means that the customer has ended the contract
prematurely of their own volition.
Stopping payments
Axcess Merchant Services Ltd. www.axcessms.com +44 (0)113 344 3850
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