What is Recurring Billing?
Recurring Billing is used by businesses to charge their customers for the product or services they provide on a regular basis, like monthly or annually.
The types of business or companies that use recurring billing methods are;
SaaS
Entertainment (like Netflix, Prime etc)
E-commerce
Publications
Online education platforms and so on
Recurring Billing vs. Subscription Billing
Subscription Billing charges a fixed fee regularly for access to a service or product.
Recurring Billing is broader and can include variable charges, such as usage-based billing or pay-as-you-go models.
For example:
Recurring Billing: A cloud service provider billing based on the amount of storage used monthly.
Subscription Billing: A SaaS platform charging $20 per month.
Both models cater to different customer needs but share the goal of simplifying billing processes.
