In the closing post of our Boosting Business with New Payments series, we will touch on the advantages of recurring billing for your business.
It allows you to provide an on-going service to your customer and set up the payments so that they automatically process in the background on a schedule. The subject of money between business owner and customer is a fragile one, so having the transactions happen behind the scenes creates a more comfortable environment. Business owners no longer need to hassle customers to pay their bill and automatic payments improves billing efficiency.
Businesses such as fitness facilities, insurance companies, and SaaS companies can all benefit from recurring billing. It improves operational efficiency, and gives customers a better payment experience. With recurring billing, your customers can purchase and sign up for your subscription or membership in one step reducing unnecessary friction. You can even use Recurring Billing to put your customer on an automated payment plan for more expensive products, opening your business up to a larger number of potential customers.
Recurring Billing along with eCommerce and Mobile payments are all valuable channels that can be opened up by accepting credit cards. Learn more about increasing revenue with new ways to get paid by reading The Merchant’s Guide to New Transactions