Processing recurring payments

Be it subscriptions, memberships or insurance premiums our experts have recurring payments covered

How to accept recurring payments in your company

Recurring payments are often referred to as, repeat billing facility or continuous payments facility. All of these terms mean the same thing; the ability to process recurring payments using the client’s credit or debit card details. Examples of this include; accepting subscription payments such as monthly magazine payments or mobile phone contract and credit card/debit card annual subscription processing such as insurance or gym/club membership.

Do all merchant accounts accept credit card subscription processing?

No – not all account providers have the ability to accept reoccurring payments, to do so you will need a merchant account and a payment gateway suitable for recurring billing. All merchants wishing to start credit card subscription processing will need to be approved by CPA (Continuous Payments Authority.) A contract will be issued between the merchant account and the credit card issuing banks to agree that payments can be made without customers specific permission. Speak to our advisors about the best ways to accept recurring payments.

What are the costs of accepting recurring payments online?

Lots of merchant accounts and subscription based payment gateways offer reoccurring payments as a ‘free’ part of the contract. However, taking reoccurring payments can be deemed by most providers as high risk. Due to this you can expect slightly increased fees from a standard account. TIP make sure you read the small print and compare rates like for like, “accept recurring payments for free” but what are the other associated costs? Read our informative guide to find out more.

MERCHANT FEES EXPLAINED

Online credit card processing recurring payments

There are two ways of accepting payments manually using a virtual terminal and online using your current CRM system, either way making sure you remain PCI compliant is vital. We suggest using a subscription payment gateway with a compliance level of one.

PCI COMPLIANCE EXPLAINED

Accepting high risk recurring payments and payment gateway subscription services

High risk industries such as the adult and entertainment sector often experience difficulty in obtaining merchant accounts and payment gateways to accept subscription and membership fees. At Merchant Advice Service, we work alongside high-risk specialist advisors, who deal with this type of application on a daily basis. Speaking with such experts, prior to applying can not only save time on wasted applications, with companies that wouldn’t accept high risk businesses, but can also save money on quotes obtained elsewhere.

SPEAK TO OUR HIGH RISK EXPERTS

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Make a quick enquiry

Speak to us directly and get any questions you have answered. Submit your details and we’ll be in touch shortly.

Agree

Tick this box to allow Merchant Advice Service and partnering firms to contact you in relation to your enquiry and associated services. Note we do not use pre-ticked boxes or any other type of default consent. We may use the data on this form to to pass you onto an advisor who suits your specific needs. You may withdraw your consent at any given time.

We will keep record of your data and consent granted to us. Your consent will be reviewed on a five yearly basis to ensure that our relationship and the purpose of the data have not changed.

We act on requests to withdraw the information we hold on you as soon as we can.

For further information please refer to our full terms and conditions HERE.

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