Stop Wasting Time And Start a Recurring Merchant Account
A Recurring Billing feature is a unique business model that allows customers to pay in chunks. The business model has become very useful, and most of the giants’ companies are already enjoying the benefits of a recurring business model. With the recurring feature, you don’t need to remind me each time to pay you. The payments get automatically deducted from the customer’s bank account, and you will receive the credit in your Recurring Merchant Account.
Are you also a merchant looking to provide the recurring feature to your customers? We at Quadrapay can help you with this. We are a reseller of various payment processors. Our partnered payment processor from the US, EU, and other global countries provides various payment solutions.
Though it is considered a high-risk business model, it is quite a challenging task to get a Recurring Merchant Account. But still, we process and onboard merchants with a high-risk recurring merchant account.
What Are Recurring Merchant Account And Recurring Payment gateway?
A recurring merchant account is a merchant account for businesses that want to offer a recurring or subscription payment feature to their customer base. It helps you to accept payments on a recurring basis, which is pre-determined at the time of availing the service or product. The payments are pre-authorized by the customers, and there is a mutual agreement between the customer and the merchant for the billing amount and date.
Recurring payment Gateway: It is the same as other payment gateways, and requires a pre-authorization for the recurring cycle from the customer and stores the card details to charge them on a recurring basis. The recurring cycle can be weekly, monthly, quarterly, or as agreed by the customer.
Why do businesses use recurring payment services?
For simplicity, the recurring payment services are the way to lure your customers. It helps businesses to sell their product repeatedly until the customer cancels the subscription. Customers also find it easy to pay in chunks, like every month or week, instead of a full amount at once. This can be understood as, let’s say, your customer buys a software tool for a year at $48. But instead of paying a full amount at once, customers can have the flexibility to pay $4 each month. This increases the sales volume of the business, and you can have a forecast of your business growth.
Recurring Billing And Credit Card Payments
Recurring payments work well with credit cards. The payment gateway in tokenized form saves the credit card used for recurring payments, and it requires only first-time pre-authorization. The card saved is then auto-debited on the pre-decided recurring date. Once the recurring billing cycle is about to end, the recurring system reminds the customer about the expiration date and asks for resubscription to the service. And hence the recurring billing cycle continues.
Features of a Recurring Merchant Account
Let’s talk about some of the features a recurring merchant account should have to process the transaction repeatedly.
- Automated recurring system
- Advanced Analytics
- Safely stores customers’ sensitive information.
- PCI-Compliant
- 24/7 Customer Support.
Start Accepting Recurring Payments With Quadrapay
The most adopted feature to serve your customers with more flexibility is providing them with a subscription-based payment method. Your customer loves to. If you also want a recurring merchant account to offer your customers a recurring billing facility, fill out the pre-approval form on our site, and we will get back to you within 24 hours. One of our representatives assists you with the documentation process and helps you with the onboarding process. If you have any queries, get in touch with us at info@quadrapay.com.
