Recurring Payments Merchant Account

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Recurring Payments Merchant Account

Does your business have a recurring billing model?  You’ve come to the right place.  Quickly set up recurring payments for your customers and watch your profits grow.

  • Unlimited Recurring Payment Plans.  Customizable recurring billing plans are convenient for customers.  And profitable for you.   
  • Competitive Rates. Low rates with top-notch technology.  Contact us today for a no-obligation rate comparison.
  • Fast Approvals. Quick approvals speed time to market to get you more orders quicker.
  • All Business Types Accepted. Companies in all industries benefit from recurring payments, including low risk, standard risk, and high risk merchants.
  • Stabilize Cash Flow “Set it and Forget it” recurring billing protects revenue and extends the lifetime value of customers to your business.
  • Multiple Payment Methods. Accept recurring payments from all debit cards, credit cards, ACH, and electronic checks.  The more ways you accept recurring payments, the more money you make.
  • Account Updater Services. Automatically update recurring billing card data.  Save time & money while protecting recurring billing revenue.
  • High Volume Specialists. Get the recurring payments processing capacity you need to grow your business.

 

What are Recurring Payments?

Recurring payments are often referred to as autopay.  Your customers give you authorization to charge cards or debit bank accounts to pay for goods or services on a regular, recurring basis.  Payments continue until the end of the billing term or until the customer cancels the service. 

Recurring payments can be used to pay for any type of goods or services.  Most Americans regularly pay household bills, car loans, mortgage, rent, insurance and other monthly bills with autopay.  Recurring billing is a familiar and trusted payment method for US consumers. 

Companies in all types of businesses use recurring billing models.  Common examples of recurring billing include subscriptions and memberships, entertainment, repayment of loans, property management, and health clubs.  However, businesses selling any type of product or service can benefit from recurring payments, particularly if the amount of the payment is the same over a period of time.

Recurring billing is also great for installment payments to make it easier for customers to pay for a higher ticket item over a period of time.  An example of this is “3 easy monthly payments of  payments of $99.95”.  This is useful for all types of businesses.   In fact, even dentists and doctors commonly offer recurring payments for procedures that are not covered by insurance. 

Recurring billing ensures prompt payments, protects cash flow, and reduces billing and collection expenses by automating payment processing.  Recurring payments enhance customer satisfaction by making it convenient for customers to do business with you.


 

Recurring Billing Features / Benefits

Unlimited customizable recurring payment plans are a standard feature on all accounts.  Accept recurring payments through all sales channels by setting up recurring billing plans for your customers.   

Customers can authorize you to accept recurring payments when purchasing online.  Or your representatives set up recurring billing by mail or phone (MOTO) using virtual terminals.  Or you can obtain customer consent for recurring billing through written or digital authorization.

  • Multiple billing profiles.  Allow buyers to select the payment plan that works best for them. For example, you can offer monthly plans at one rate and weekly plans at another rate.   
  • Different initial and recurring amounts. Different amounts can be specified for the first billing and subsequent billings. Great for offering special rates or trial periods.  Or larger down payments on products followed by smaller payments for installment billing. 
  • Configurable time frames.  The duration of billing terms can be configured from one time to unlimited.
  • Automatic re-billing. Transactions can be automatically retried if not successful the first time.  Extremely effective used in conjunction with our card updater service.
  • Robust cloud reporting.  Manage & control your recurring billing transactions.  Extensive customizable reporting included

 

Tokens Keep Debit /Credit Card Recurring Payments Safe

Protect sensitive card information with tokenization.  When a card is processed, sensitive information is replaced with a randomly generated unique token.  The tokens associated with the payment are stored in the secure vault in the payment processing gateway.  Recurring payments use the encrypted tokens for processing.


 

Account Updater Service for Debit / Credit Card Recurring Payments

One in five US credit & debit cards are reissued each year. Cards are reissued for many reasons including lost / stolen cards, data breaches,  expired card dates, and bank mergers.  Regardless of the reason, updated card data needs to be obtained for a recurring card payment to be approved. 

Advanced payment processing technology now automates the process of updating card info.  When a card is declined, the updater service connects with the card issuing bank to obtain the new card data.  The recurring payment is then approved.

  • Save time, money & expense required for manual updates.
  • Stabilize cash flow. Recurring billing continues uninterrupted. 
  • Increases the lifetime value of customers.
  • Improves customer satisfaction.

Although account updater services are exceptionally helpful, the service will not be able automatically update some cards.  In these instances, you still may need to contact customers to obtain the updated card information.


 

Benefits of ACH / Electronic Checks to Accept Recurring Payments

Many companies that have recurring billing models discover that recurring electronic check payments provide more stability long term and protect cash flow better than card payments.  Recurring payments debited from bank accounts prevent revenue leakage because bank debits are more stable than card payments. The reason for this is easy to understand.

Bank accounts rarely change.  It’s simply too much hassle to change bank accounts.   Most Americans receive direct deposit of wages to bank accounts.  And pay recurring bills through debits from banks accounts. 

Since bank accounts remain stable over time, there is seldom a need to update payment information. Revenues streams continue to flow without interruption.

Therefore, it’s wise for all companies with recurring billing models to include the both card & electronic checks as payment methods.  Remember, the more ways customers can pay you, the more money you make.


 

Applying for Recurring Payments Merchant Accounts

Applying for an recurring payments merchant account is a straight-forward process.  You submit an application along with supporting documentation about your company. Application is always free with no obligation.  Accounts are approved in 1-3 days. 

Supporting documents include: Color copy of ID for signer on account, bank statements, processing history, voided check from depository account, and business formation documents.

It’s helpful if the signer on the recurring billing merchant account has good personal credit.  If credit is not good, adding a co-signer with good credit will help get the account approved. 

Once the application package is received, the underwriter team verifies the information on the application form.  Then, supporting documents are reviewed.

The underwriting team then approves your recurring payments merchant account.  Your MID (merchant identification number) is assigned.  You receive a secure login to the recurring billing gateway.  And you can begin processing immediately.


 

Why Choose PaynetSecure for Recurring Payments?

For more than 20 years, businesses with recurring billing models have used our services to successfully accept recurring payments.  Here are some of the reasons. 

  • Multichannel Payment Processing.  Accept recurring payments through all sales channels.  Easily accept recurring payments online.  Use virtual terminals to setup recurring payments for mail / phone orders (MOTO).  Accept mobile payments.  Or set up recurring billing plans authorized by your customers.  
  • Unlimited Customizable Payment Plans.  Make it easy to customers to pay for subscriptions, memberships, goods & services, and installment payments
  • Protect Your Business.  Recurring billing data is encrypted & safely secured in the gateway vault, eliminating the need for you to store sensitive payment data. 
  • Level1 PCI-DSS Recurring Billing Gateway.  Keeps your payment processing safe while providing you the highest security for compliant recurring payment processing.
  • Superior Customer Service.  Dedicated account managers provide you the support you need when you need it. 
  • High Risk Merchants Welcome. Businesses in all industries, including high risk merchants, are welcome to apply.
  • Extensive Banking Network.  Set up a single recurring payment account.  Or establish more than one account to mitigate processing risks.

Let Us Work for You

Your Success is Our Mission

Payments power profits. PaynetSecure specializes in high volume & high risk merchant services. Over the past 18 years, the company has successfully provided proven, reliable & secure payments processing to thousands of US & international businesses. Securely accept cards payments. Add alternative payment methods that drive more orders and accelerate sales. Access specialized processing solutions designed to increase your profits, while reducing risk. Discover top notch service, dedicated support, and devotion to your complete satisfaction. Contact us anytime for a free, no-obligation consultation. Your complete satisfaction is our goal. 

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