Payment processing and recurring billing are inherently complex with many moving parts. Whether your organization uses a point of sale payment system, mobile payment processing, or recurring billing, Payscout has everything you need to make the operation as seamless as possible.
- What is Recurring Billing?
- Traditional Recurring Billing
- Expanded Recurring Billing
- Modifiable Recurring Billing
What is Recurring Billing?
Recurring billing is common among industries that provide services or goods on a prearranged schedule. It’s a convenient service for both providers and customers and offers a routine charge for purchases that occur on a regular basis, including utility payment processing, a subscription-based service, or a non-profit payment processing system that collects monthly, quarterly, or annual dues.
However, recurring billing has some drawbacks. For example, it can be cumbersome to correct a billing error, since most customers won’t pay too close attention to a recurring billing statement. There is a higher likelihood that an error could go unnoticed for an extended period of time.
Payscout offers three customized recurring payment options based on your organization’s services and billing cycle, including:
Traditional Recurring Billing
Payscout’s traditional recurring billing options allow you to set up a recurring billing account for a specific dollar amount, either for a specific day, a specified period of time, or indefinitely.
This option involves setting up a recurring billing option using a credit card or an automated clearing house (ACH), also known as an electronic check. This service is ideal for recurring services like a subscription or donation.
Expanded Recurring Billing
The expanded/plan recurring billing program lets you set up a billing plan and add an unlimited number of cardholders. You can also change the dollar amount to be charged and the timing and frequency of charges.
As an added benefit, any change you make will go into effect immediately for every cardholder on the account. This provides seamless, efficient updates for both the customer and service provider.
Modifiable Recurring Billing
Payscout’s modified recurring billing option allows service providers to create and upload recurring billing information using an Excel spreadsheet directly into Payscout’s online portal. When you need to make a change to a customer’s billing information or dollar amount, simply make the change in Excel and upload a new spreadsheet.
You can also use an Excel template and save it in your Payscout account, which you can then use for future payment processing. This powerful option lets you process 50,000 transactions easily and efficiently, saving you and your customers valuable time.
Learn how to streamline your recurring billing processes today at www.payscout.com