Recurring Payment

What is Recurring Payment?

A recurring payment is a transaction that occurs at regular intervals, such as weekly, monthly, or annually, based on a pre-authorized agreement between a customer and a merchant. It is commonly used for subscriptions, memberships, and utility bills.

Why It Matters

• Provides a predictable and steady revenue stream for businesses

• Enhances customer convenience by automating regular bill payments

• Reduces the administrative overhead of manual invoicing and collection

• Improves customer retention by providing a seamless and continuous service experience