>
Home / Recurring payments

Recurring payments

Recurrent payments are an important tool for companies. They allow you to process transactions without the direct participation of the payer, automatically debiting funds. This, for example, ensures the comfortable operation of SaaS companies that offer services on a subscription basis. The PayAdmit payment system offers customers a recurring payment service. Using our recurring billing solution, you will receive payments quickly and conveniently.

How do recurring payments by PayAdmit work?

Automatic recurring payments from PayAdmit allow subscription service providers to receive payment without the direct participation of the payer. That is, your client does not need to open the payment page each time, re-enter all the card details and confirm the payment. Due to the recurring payment, the funds will be debited automatically, and the subscription will also be renewed automatically.

Payments are set up once, at the time of the client’s subscription. They choose a tariff plan for themselves, indicate the details, and confirm the first payment. After that, PayAdmit saves all the information and debits funds in accordance with these settings. PayAdmit online recurring payments is a great solution for news sites, OTT platforms, cloud services, and any SaaS businesses that provide subscription services.

What are the advantages of recurring payments from PayAdmit?

The PayAdmit payment gateway offers customers the ability to connect recurrent payments. This solution provides several important advantages:

  • Reduces the risk of losing customers. Up to 20% of customers are “lost” due to the fact that they do not make payments on time. Recurring payments processing by PayAdmit eliminates this risk.
  • Possibility to set the time of charge requests. This is important, for example, if the client does not have enough funds in the account. In this case, the repeat billing system will automatically send a request after a while.
  • Automatic reconfiguration to a new card. If the client’s card has expired and they have reissued it, the PayAdmit recurring payment service will automatically update the database and charge using the new details.

In addition, all this creates a good reputation for business among customers. They get the opportunity to conveniently pay for a subscription without needing to take any action. The payment subscription service by PayAdmit will automatically charge the funds.

FAQ

Frequently Asked Questions

What do recurring payments mean?

Recurring payments are a method to regularly pay bills without involving the payer directly or for them to enter their card number and company information each time. It is the perfect solution for all firms that use a subscription-based business model, including news websites, OTT services, hosting companies, different cloud apps, educational portals, charities, and volunteer groups.

How do recurring payments work?

The customer pays for the item, permits you to store the card information, and accepts the terms of automatic payments. The money will be taken out of the client's account within the time frame you choose, and a notification will be emailed to him. All further payments will be paid automatically once regular ones have been connected.

What are examples of recurring payments?

Fixed and variable payments are the two categories of recurrent payments. A consumer gets charged the same monthly sum for a fixed recurring payment as a magazine subscription or fitness center membership. Cable bills, mobile phone bills, gym dues, electricity costs, and papers subscriptions are a few illustrations. Automatic payment is another name for recurring billing.

How do I stop recurring payments?

The most straightforward approach to stop these payments is to cancel it directly by contacting a company through phone or email and asking to be removed from their database. Call or email your bank or credit card issuer to cancel the transaction if it doesn't work. To prevent another amount from being charged, you need to complete this at least three days before the following scheduled payment.

What is recurring billing software?

Recurring billing software is billing and pay software that renews itself automatically. Regular billing software is used by many businesses grounded on subscriptions to assist manage recurring invoices and payments. Businesses that use standard billing software include streaming services, subscription gift boxes, and gyms and fitness studios.

What is the purpose of a recurring payment?

Recurring payments are a mechanism where customers give business permission to deduct funds from their accounts on an ongoing basis in exchange for products and services. Additionally, regular payments provide several advantages for business owners, such as reduced late fees and more stable cash flow. Making them straightforward, quick, and worry-free increases consumer loyalty and reduces the price of mailing, postage, and human billing.

Can I cancel a recurring payment?

By issuing your bank a canceling payment order, you can prevent an automatic payment from being sent to your account even if you haven't canceled your authorization with the firm. By doing this, you're telling your bank to cease approving withdrawals from your account by the firm.

Additional resources

Go to Blog
Bitcoin 17.08.2022
How to Accept Bitcoin Payments?

Bitcoin is the main world cryptocurrency. This digital coin is widely used as a means of payment around the world. Many online stores accept Bitcoin to pay for goods and services.

Payments 15.08.2022
What is an ACH Payment?

A payment by ACH is an electronic funds transfer between banks in the United States. It is carried out through the ACH network without using Visa or MasterCard payment systems. This type of payment is very popular among businesses.

Fintech 04.08.2022
What’s a Transaction ID?

A payment processor is very important for any business. However, you should understand that when you start working with it, you will encounter certain difficulties.

Bitcoin 17.08.2022
How to Accept Bitcoin Payments?

Bitcoin is the main world cryptocurrency. This digital coin is widely used as a means of payment around the world. Many online stores accept Bitcoin to pay for goods and services.

Payments 15.08.2022
What is an ACH Payment?

A payment by ACH is an electronic funds transfer between banks in the United States. It is carried out through the ACH network without using Visa or MasterCard payment systems. This type of payment is very popular among businesses.

Fintech 04.08.2022
What’s a Transaction ID?

A payment processor is very important for any business. However, you should understand that when you start working with it, you will encounter certain difficulties.

Get Started Today

Sign up now to experience the future of payments and offer your customers the best checkout experience.

Documentation
All the resources to successfully process payments using the Payadmit platform
PayAdmit Docs
Let’s Talk
Do you want to scale up your business and you need a strong and flexible Commerce platform?
Contact Us
Give Us a Call
Be not afraid! Go after global market share. We'll handle the backend stuff
Skype
Documentation
All the resources to successfully process payments using the Payadmit platform
PayAdmit Docs
Let’s Talk
Do you want to scale up your business and you need a strong and flexible Commerce platform?
Contact Us
Give Us a Call
Be not afraid! Go after global market share. We'll handle the backend stuff
Skype

    Already registered? Log in