How recurring payments work
Want to charge your gym members monthly for their membership subscription? Do you want to charge subscribers for the quarterly issue of your financial report? Or you'd rather they pay daily for your food delivery? Whatever the case is for which you need to charge customers at specified intervals, recurring payments are there for you to use.
What are recurring payments?
Recurring or subscription payments enable you to receive payments from your customers at specified intervals (days, weeks, months, etc) without them having to go online each time and input their card details and go through authentication.
How it works
This is the typical flow of a recurring payment:
- You, as a merchant, will create a subscription payment plan either by creating a subscription payment link, creating a payment plan on the dashboard, or creating a payment plan by calling the APIs.
- Your customers subscribe to the payment plan by making a payment on your subscription payment page or by making payment in your website/app. This is the only time they will be asked to input their card information.
- Subsequently, your customers will be charged according to the specified interval and number of times. You can unsubscribe customers from payment plans at any time.
Creating a subscription payment plan
You can create a payment plan in one of three ways.
- By creating a subscription payment page, through the dashboard, where customers can be directed to make payment. This document outlines the steps to take to create a subscription payment page.
- By creating a payment plan, through the dashboard. This way, however, customers can only be subscribed to these payment plans in your website or app. This guide details how to create a payment plan like this.
- Lastly, payment plans can be created by calling the APIs. You can view detailed instructions on using the payment plans API here.
Subscribing to a payment plan
Once a customer pays the first time for your subscription, either through payment pages or in your website/app, they are then subscribed to that subscription plan and charged at the specified interval.
Before each charge, customers are given an email notification informing them of the pending charge and giving them the option to unsubscribe from this plan. You also have the option of unsubscribing customers from your payment plan yourself, through the payment plans page of the dashboard.
Why don't you create a subscription plan now? We are excited to see the various interesting ways with which you can build upon this feature.