Recurring Billing is a new, flexible payment option that can be used to sell products that need more than just a one-time charge. This can be especially useful for expensive items and “product of the month” clubs. It’s also an essential tool for generating online revenue for businesses and organizations that don’t have a product. Here are two examples: Services such as lawn care providers can charge their customers online each month, and charities can let their supporters set up automatic weekly donations.
Recurring Billing can be added to new or existing products. With Recurring Billing, you can take almost any kind of payment online. Here are just a few of the ways this powerful feature can be used:
Subscriptions: Sell subscriptions such as lawn care, magazines, and gym memberships that renew on a regular basis. Just choose a recurring date, such as the first of the month or once a year. Once customers sign up, they will be billed automatically on that date for the life of the subscription.
Short-Term Payment Plans: Recurring Billing lets you offer a payment plan for expensive products. For example, you don’t have to charge $10,000 for a speedboat in one lump sum. With Recurring Billing, you can accept a down payment of $5,000 and then allow the customer to pay $1,000/month for the next 5 months. This will increase the number of potential customers who are capable of purchasing.
Renewable Products: Renewable products have a known expiration date or usage rate. For example, vitamins usually run out on a predictable schedule. You can set up a recurring product that will let customers automatically refill their orders. The system will automatically rebill the customer, create an order, and start the shipping process.
Learn more about how to add Recurring Billing to your products or services.
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