Four Benefits of Recurring Payments
When you sign up for credit card, eCheck, or ACH payment processing with Forte, you are more than welcome to use the recurring transaction engine feature of our Virtual Terminal. Exciting, yes? That means you can put your billing on auto-pilot, securing payments without hassle. Here are four top benefits of recurring payments, just in case you didn’t know.
1. Perfect for Subscriptions, Memberships, and More
Recurring billing is the perfect option for merchants that offer subscriptions, membership services, or anything else that benefits from an automated structure. Whether we’re talking hot vinyasa classes (that’s endless steamy down dogs), magazine subscriptions (Cigar Aficionado for 24 months, anyone?), or just monthly electric bills (I use how many kiloWhats?), recurring billing can be your friend.
2. Easy to Set Up
Getting started with recurring billing is a breeze. Merchants can simply log into their Virtual Terminal, add a transaction, and set up a payment schedule. In a few clicks, it’s ready to go. At any time, merchants can also remove the schedule. There are options for setting a future start date and running the frequency just a certain number of times, or even continuously!
3. Hands-free Management and Maintenance
For merchants, recurring billing is a dream. Once you get it set up, you can simply sit back and let it do its thing. With automatic collection, you don’t have to worry about manually processing bills and payments each month. It all happens pretty much like magic, minus the mysticism and lack of consequences. There will be a few responsibilities. This is finance, after all.
4. Fewer Late Payments
Even better, recurring billing helps customers avoid late or missed payments. For merchants, this is a major benefit. The costs and hassles of late or missed payments can really start to pile up, but recurring billing can actually help prevent these mishaps. Customers don’t need to worry about remembering due dates or racking up late fees, and can instead enjoy a much more simplified process with fewer manual steps. Merchants can experience less loss this way. Overall, it’s a win-win.
The recurring transaction engine is a feature that comes standard with our processing services, so you’re welcome to use it or not use it, as you’d like. That’s just part of our total payment freedom and flexibility. Interested? Call 866.290.5400 to learn more today. Just want to chill? That’s cool, too. Peruse our blog from more payment topics and maybe pick yourself up a scone.
Photo credit: Laura D’Alessandro