Recurring charges are great for any business. They help you have a steady MRR (Monthly recurring revenue) and reduce your customers that stop using or hiring your service. This type of payments is a great way to exactly measure how much of your customers are indeed staying and focus in giving them more value with your product or service. In this article we’re going to explore the advantages of recurring charges, and how they can help your business succeed.
What are recurring charges?
You may be wondering what are exactly recurring charges. A recurring charge is when a merchant automatically charges a cardholder for services or products on a prearranged schedule. Either it be monthly, yearly or other type of schedule. This is great for businesses of any size that need to bill their customers in a month by month basis, but don’t need to deal with collecting manually. The main advantage for your business is to receive all your payments on time, and also the advantage for your customers is to avoid unexpected service disruptions.
The regular way to set-up this type of payments is though your merchant account provider. But what happens if you don’t have a merchant account, or your bank does not provide this feature?
Create a recurring charge using PayForm
PayForm is a simple way to create this type of payments, easily without needing code experience. You can accept recurring charges similar to Netflix or Spotify, but without needing a big IT department. It’s as easy as copying and pasting a simple form that you create in our online editor. You can put this payment form in any website and enable it to accept one time and also, recurring charges.
If you don’t have a website, you also get a simple URL link. This link can be sent to your customers using any type of communication tool, like text message or email. Once they open the link, they can set-up their recurring charge agreement easily in less than 30 seconds.
To get started easily using PayForm you can just click here.