3 steps to start processing online payments
Complete the verification process by 02.05.2014 and get a special 10% discount for the first month. Don't wait!
Complete the verification process by 02.05.2014 and get a special 10% discount for the first month. Don't wait!
Recurring payments come in handy if your business requires subscription fees for content of a news or information site, or if there is a membership fee. Not only that, subscription payments can help in completing simple payments like power and water bills. (Read more)
In this case, money is not with drawn from a bank account but rather from a card or an e-wallet (e.g. a PayPal account). This type of recurring payment is most popular in the world. Using a card to pay for subscription payments is possible only if customers fill in their card data in the shop itself, either by making a purchase or by registering on a website to start using their services. The frequency and method used to with- draw funds from an account is based solely on the web stores business model, what it means is that a card can be charged weekly, monthly, or annually. A card may also be charged only when a customer reaches a certain amount of money due.
Cash withdrawal from a customer's bank account is done in irregular time periods and with differentiating amounts of money. A good example of a direct debit can be an electricity bill, the amount owed can sometimes change from month to month. A direct debit is initiated by the party that is expecting a payment, that is why there may be a lack of consistency in dates and amounts of charges. This is a direct debit.