Want to run recurring payment & billing

What are recurring payments?
Recurring payments are ongoing payments for products or services that are automatically collected from a shopper on a periodic basis (specific date, at regular intervals). These payments are charged to the same payment method for a predetermined duration. The shopper permits you to deduct the payment at scheduled intervals until they withdraw their permission, or until the payment method expires. The shopper is also not required to manually enter the payment method for each successive payment as the payment method is normally saved to their user account during a previous transaction. Any product or service that is purchased repeatedly and regularly is a good candidate for recurring payments, such as subscriptions and membership fees.

Benefits of recurring payments:
Recurring payments has its benefits for both shoppers and vendors:

Recurring payments in Nexway Monetize:
Nexway Monetize is equipped to handle recurring payments. This is made possible with the one-click payment feature which allows shoppers to save payment methods to their wallet during transactions.
From a technological standpoint, one-click payment and recurring payment are the same features, with the difference being what triggers the payment.

Recurring payments are then made with one of the payment methods previously saved to the wallet. The shopper can manage these payment methods from their user account if the end-user creation option is enabled in the store. This allows the creation of a user account for each shopper that passes an order on that store. A payment method cannot be deleted if it is being used in an active subscription.

The payment methods that can be used for recurring payments include credit, debit and prepaid cards, e-Wallets such as PayPal and Paylib accounts, and direct debit. Asynchronous payment methods can also be used in some cases.

Note
A PayPal account can only be used for recurring payments if the shopper set up a billing agreement with the vendor on PayPal. This can be done during the initial transaction or directly in the wallet.

In Nexway Monetize the recurring payments feature is highly suitable for subscriptions. For more information on Subscriptions, see the Subscriptions page.