Membership dues and subscription fees are examples of products and services that are typically billed on a recurring basis. Recurring billing can also be used to offer installment billing plans for products. PrismPay offers a robust but easy to use recurring billing system that can be configured to suit the needs of your business.
The customer recurring payments portal allows users of PrismPay to set up a recurring payment schedule. Within the tool, a merchant would set up a monthly, weekly, or yearly time period to systematically bill the customer. Sign up now to learn more.Sign up Now
Recurring billing is the ability to accept repeat payments quickly and easily. A recurring billing transaction is when a cardholder purchases a good or service and pays in fixed installments. The interval of time for the billing cycle can vary from daily, weekly, monthly, annually, and many other variations. The consumer will be charged the same agreed-upon amount each time. The billing will continue until the full amount is paid or the contract for the good or service has come to an end. One additional feature of recurring billing is a balloon payment at the beginning of the transaction. In this case, an initial amount is charged to the customer, that is either greater than or less than the recurring amount will be. Learn more about specific types of recurring billing below.
You can take advantage of enhanced customer loyalty, increased predictable sales, and reduced perceived product costs. With recurring billing, you can offer customers the ability to spread out payments on large items or large purchases, or you can now sell a unique solution like customer service plans and ongoing support to your clients.
Recurring billing significantly reduces administrative costs by allowing the PrismPay platform to manage all of the payments for you. PrismPay provides multiple ways to engage the customer at the point-of-sale and with multiple methods for creating recurring billing and subscription signups. Now, you can engage your customer on the phone, through your website, or at the POS terminal and collect the customer’s payment information, billing amount, and establish the payment schedule. Sign up today to get started with PrismPay’s recurring billing solutions.
PrismPay has a complete SaaS point-of-sale solution built right in. As a merchant, you can design the look and feel of your web based POS and enable recurring billing as part of the checkout process. During the checkout process, the customer can be set up for any period of recurring billing cycle, for any number of payments in the cycle. Plus, a balloon payment can be made at the start, end, or both. If a special receipt is needed for the client to sign, or an email is needed to send to the client, both are also there and can be edited to meet the needs of the agreement and terms. With the virtual POS platform, merchants can create invoices and add recurring payments to them, or just create a recurring payment while on the phone with a customer.
Once a customer has been created on the gateway, managing them is simple. Our management platform handles anything from a single customer to an entire portfolio of your customer base. PrismPay provides the merchant with trend analysis on billing, notifications on card expiration, and complete edit capabilities of a customer’s profile.
PrismPay supports several POS terminals that have been specifically designed to support recurring payments. We have designed the terminal interface so that a merchant can tell us what they would like the language to be on the screen. We can even have the customer sign the screen and save the signature and agreement. The POS terminal can also be connected to our simple virtual POS. Alternatively, a merchant can connect it to their POS system as well using our POS Cloud Connector platform. Now with our POS Cloud Connect system, you can quickly enable swipe and EMV payments into any mobile environment, along with adding recurring billing acceptance as well.
PrismPay has a complete library of APIs and SDKs that any developer can use, from HTTPS POST, to CGI, PHP, REST, JSON, C#, SOAP and XML. The APIs support everything from customer creation to sale and on to subsequent recurring billing setup on the gateway platform. It can all be done from anywhere you integrate the API into your checkout process, such as through a website or mobile checkout. Once the customer is set up on the gateway, the merchant can continue to manage them through the APIs, or they can log in and manage the customer through the gateway dashboard management platform. This includes customized receipts, emailed receipts, both GIU and API customer profile editing, and much more.
Don’t have a lot of programming resources, or want to remove your website from PCI scope? PrismPay has created a complete hosted checkout page. The merchant can design the look and feel of the checkout page so that it reflects their branding on the checkout page. With a complete suite of WebHooks as well, the hosted checkout pages can be embedded into any site one or multiple times, and it will return the critical customer data back to the merchant wherever and however necessary.Sign up Now