Posted by admin on Oct 03, 2013
Recurring Payments, ACH

What are Recurring Payments?

A recurring billing model gives customers a convenient way to purchase from you. Customers pay you at regular intervals.  Payments continue until the goods are paid for or the service is cancelled.

Millions of Americans pay for goods & services with electronic check recurring payments. Echecks are the most popular alternative payment method for US consumers.

Echecks electronically debit the amount of the recurring payment form customers' bank accounts and automatically deposit the funds to your business bank account.   

 Echecks vs Cards for Recurring Payments

Recurring payments are particularly well-suited for electronic check processing.  The payment method is far more effective in protecting ensuring long-term cash flow than are card payments. 

Once established, a bank account is seldom changed.  Customers keep the same bank account for years.  Money from recurring payments keeps flowing.

Card payments are more transient.  One in four cards is reissued every year by banks.  Each time a card is reissued, you have to get updated card information in order to authorize a recurring payment. This is expensive and time consuming.  And creates an unnecessary opportunity for customers to cancel.  

Benefits of an Echeck Processor Account

Here are some of the top benefits you can expect from your echeck account.

• “Set it and forget it” simple recurring billing and increases productivity.

• Increase cash flow and revenue streams

• Easy and convenient for customers

• Enhance profitability

• Increase efficiency 

Automation Improves Productivity

Electronic check recurring billing eliminates the need to re-enter the payment information and re-submit the payment every interval in the billing cycle. The transactions are direct debits from bank accounts that have been pre-authorized by the customer.

Payment information can be automatically populated in the fields eliminating the need for repetitive data entry. Transactions may be set to occur as recurring transactions at the incremental time period. 

The number of transactions may be set to an established a finite number of payments or can be open-ended and allow for recurring payments to occur indefinitely.  Email reminders and confirmations can easily be sent to the customer. 

Conclusion

Electronic checks are a familiar and trusted payment option for US consumers. 

Automated recurring payments with e checks are perfect for any business with a recurring billing model.

"Set it and forget it" electronic check recurring payments stabilize cash flow, increases the liftetime value of customers, and enhances productivity.  

Interested in an echeck account to protect your cash flow from recurring payments?

Contact info@nationalach.com today.