In it’s simplest form, a recurring billing system automatically charges your customer’s credit card each and every month.
You can set it up to bill a customer indefinitely on a specific day of the month, or in 30 day increments.
You can set up your recurring billing system for payment plans as well, such as 3 pay, 5 pay, or 10 pay.
And any recurring billing worth it’s salt will allow you to control and modify a number of important billing parameters, such as:
- The date you charge your customer
- Different payment plans for price or the number of times to charge your customer
- 30 day, 60 day, 90 day or other payment intervals.
So how does it work?
How Recurring Billing Works
Well, it’s a virtual system. Meaning, the recurring billing system is part of a “virtual terminal” where you log into a secure site to charge and manage your customers.
As a virtual system, it means you don’t have any software to buy. Or computer headaches to manage. Or software upgrades to pay for down the road.
And as a virtual system, it means you can have someone manage the virtual terminal for you, handling issues like changes to credit card expiration dates.
So who is a good fit for this type of merchant account?
Typically business that bill clients a set amount each month, such as:
- Professional practices
- Alarm Service Companies
- Internet Service Providers
- Web Hosting Companies
And the list goes on.
Whether you are just getting started, or you are simply looking for a better deal, now is a great time to…
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