Recurring Billing

Recurring Billing

Recurring billing put simply is the concept of billing on a regular basis. Recurring billing is commonly the same amount and most often monthly, but can also be weekly, bi-weekly, quarterly, bi-annually, annually or other possible regular intervals. When a merchant requires billing of one or more of its customers, specifically if the billing involves the same dollar amount on a regular interval, an easy way of managing this billing process is setting up an automated recurring billing system.

 

Automated Recurring Billing

There are many software and gateway providers that have developed and created automated recurring billing systems that will simplify and systematize the accounts receivable process for a business or independent professional. Automated recurring billing and complimentary systems can be implemented for either ACH processing or Credit/Debit Card Processing.

Common Steps in Setting up Recurring Billing (Gateway or Software)

  1. Merchant sets up recurring billing with payment gateway or software product
  2. Initial payment from customer is drafted, charged or scheduled
  3. Customer payment information is scheduled utilizing payment gateway or software product
  4. The billing amount, timing and customer information is captured and saved within system
  5. Upon next bill timing, the amount is automatically deducted
  6. The monies are deposited into designated bank account automatically

Quality automated recurring billing gateways and software will offer the option to simultaneously email the customer a receipt during the billing process. There are even some automated recurring billing products that can generate automated invoices sent automatically to the customer which will also direct the customer to a form where they can input payment information.

Related Content – Payment Gateways

(Click here to learn more about Payment Gateways)

 

Benefits of Automated Recurring Billing

  • Eliminates ongoing manual entry of payment information
  • Saves time accounting time
  • Establishes predictability of cash flow
  • Late payment reduction
  • Lowers amount of collection calls
  • Lowers ACH collection / card processing costs

 

How can Total Merchant Network help?

Total Merchant Network has access to numerous providers and software developers that offer automated recurring billing for both ACH and card processing. Total Merchant Network also has the experience of hundreds of customer on-site implementations and website integrations. Total Merchant Network can help you determine the right gateway or software product that will automate your billing process and give you all of the benefits listed above.

 

Contact Total Merchant Network today for a free 30min preliminary needs analysis to help determine the right solution for your business. Call us at 866.382.2819 or Click Here.

If you are ready to apply for merchant account to process credit / debit cards click here