Subscription-based services are becoming more and more popular, especially for merchants in industries like entertainment or utilities. The internet has made these types of services all the more enticing and easier to sign up for. We’re all well aware of the existence of delivered prepared meals, wine-of-the-month clubs, music and TV streaming services, and gym memberships, just to name a few. The one thing that all of these have in common is a payment processor capable of recurring billing.
When people sign up for a service, they rely on the automatic billing of their credit or debit card so that they can continue to receive the service without interruption. Nobody wants to have to remember to log on to their account every month just to pay their bill. Allowing for recurring transactions is not only a smart business move, it’s expected by customers. This kind of structure allows your customers to forget about the monthly billing, so they’re free to enjoy what your service offers them.
To bill on a recurring basis, the merchant must have the customer’s card on file in their system and have their permission to continue to bill them. Recurring billing helps keep customers from incurring late fees and getting frustrated with your business. Instead, they won’t think of your billing process at all—just the excellent service that your business provides them.
Here at PayArc, we know that some businesses depend on recurring transactions. That’s why we ask when you first sign up, so that we can set your account up to receive and process recurring payments and give you peace of mind. We want to help you grow your business and keep your customers happy.
Fill in the form to get in touch with us and learn how your business can save on credit card processing fees.