Features Of A Modern Recurring Billing Solution

The ability to accept recurring payments is the necessity of many modern businesses while a great amount of them provide their services on a regular basis. If to be brief when recurring billing takes place a merchant charges a certain amount from the customer on the prearranged schedule. But it is not enough at the modern market, even a recurring billing solution is expected to be flexible. It should possess the following features:

• payment plan freezing;
• deferment of payment plan;
• variable payment amount;
• ability to change billing dates;
• advanced cancellation;
• pre-payment;
• support for services fees;
• automated write-off.

The main goal of these features is to simplify the process of recurring payments charging and to make it more convenient for you and your customers. Let’s try to illustrate some of them. With the ability to differ payment plans you can provide your clients with some promotional offers, for instance, you can suggest them to pay $50 today and then to get the opportunity to use service for free for the next three months. One more example is the ability to freeze a payment plan which will allow your clients to pause the recurring billing schedule for some period of time when they are away and do not need to use your service but they will be able to start using it again after this period of time.

The examples describing the other features are available for you in the full article at #Paylosopy. Visit payment advice portal to find out more.