Automated Recurring Billing
Waiting on receivables?
Get paid on your schedule with Automated Recurring Billing
Getting paid automatically is a beautiful thing. Here’s how.
If your business relies on regular payment from your clients – annual, quarterly, monthly or even weekly – you know the feeling. While you know the total you’ve invoiced, you do not know what amounts are going to come in on what dates. And if you count on regular payments, it’s easy to be “lean” by the time those invoices go out. The situation is the same no matter if property manager, health club, magazine publisher or provider of a subscription service. It’s no fun awaiting payments.
With automated recurring billing, you gain control over your cash flow. You can set the amount to bill, the billing schedule and number of recurrences, and let the system do the work. Payments are processed automatically and receipts are emailed to your clients. If a card declines, you can receive a an email notice. You can even get reports on which cards are going to expire, or set reminder emails to go to your clients before the payment processes.
Here are just a few of the benefits you’ll enjoy with Automated Recurring Billing:
Predictability: You set the date the payment draws from their account, putting you in control of your business cash flow. Know exactly when you’ll have exactly what amounts of cash on hand.
Reduce operating expenses: In many cases, taking payments automatically on credit and ACH can result in a LOWER net total cost than traditional invoicing. While there is a cost associated with taking electronic payment, they replace all the costs associated with accounts receivables. They eliminate the need for paper invoices, postage and envelopes, labor costs associated with issuing, receiving, depositing and tracking payments, and of course the biggest cost of accounts receivable, delayed cash flow. We can help you determine when electronic payments make sense for your business, and implement the tools to slash your A/R costs.
Accelerate your cash flow: No waiting on payments, you set the schedule of when you get paid.
Provide ACH and credit options: ACH is the lowest cost way to process a payment, drafting your customers’ bank account (using the account and routing number) rather than credit or debit card. If real-time approval is not an issue, automated recurring billing with ACH can process a payment in any amount for less than the cost of a postage stamp.
Offer payment plans: Studies show that your customers are willing to spend more in installments than at once. This is why every infomercial is “3 easy installments of $49.95” instead of $150. By offering installment plans allow you to close more sales at a greater average margin.
Collect rents, membership dues, subscription costs: If the amounts you charge are fixed, predictable amounts, there is no reason not to automate and save you and your clients the hassle. Reduce both labor and client attrition!
Accept Donations: If you have a registered 501c3 charity, you can utilize recurring billing to create monthly payment plans that beneficiaries “set and forget”, allowing you to collect significantly more over time than one-time donation pledges.
Collect on large balances: If you have a client that owes you a large amount, you know they often will duck collection calls simply because they cant make that payment all at once. Put them on a recurring payment plan with weekly, bi-weekly or monthly payments so they can pay you automatically as they get paid.
Auto finance and debit payments: We can support automated recurring payments for financing car, boat, RV, ATV, motorcycle, or any other sort of loan installments. This is only applicable for use with debit cards.
There are a lot of companies called "Merchant Solutions" make sure you are contacting the right one. If you’ve found this page, you may have the wrong “Merchant Solutions”. And we mean that in more way than one. There are hundreds of companies in the payment...
Credit Card Processing 101 – 5 simple steps you can do to reduce your credit card processing fees, starting today By Andrew Moran, CPP “Credit or debit?” Far too often when I go to a retail location that accepts debit cards, I hear “credit or debit?” While it seems...
High ticket requests and held funds – what businesses should know Congratulations, you’ve just made a big sale! You run your customers credit card, wait tensely for those few seconds as the transaction processes, and… APPROVED! You smile and think...