Recurring Billing benefits for merchants & customers
Has this ever happened to you?
There lived a young professional by the name of Tucker, who wanted to purchase a brand new laptop to support his gadget devotion. With a click of the mouse, he surfs his way to an online computer store & picks out the laptop of his geeky dreams. Excitedly he brings out his shiny credit card only to put it back in his wallet because the online computer store doesn't offer recurring billing - and with his salary, paying in installment is the only way he can support his lifestyle.
On the other side of the world, housewife Suzy is having a migraine over the numerous bills her husband "forgot" to pay. This would entail paying the unnecessary penalty fees for late payments, & with a child on the way, they can't afford to go beyond their budget. Tonight her husband is definitely having cold stew for dinner.
What's the common theme with these two? They both need a fast, flexible and easy way to pay their bills. Voila! Recurring billing service to the rescue.
What is recurring billing?
Recurring Billing, a service offered by free merchant account providers in coordination with payment gateways, is when a card holder, in this case both Suzy & Tucker, grants permission to the merchant to charge their credit cards (or bank accounts) for recurring products or services. In other words, automated payments.
Who benefits?
If you don't like the hassle of billing, neither do your customers! They hate seeing unpaid bills on their tables, and the paper wasted on those bills - no wonder mother earth is complaining! People are always busy & would like to spend more time on worthwhile activities than going to the bank or stores to pay their bills - and mind you, those queues can be pretty long.
Availing of Recurring Billing from your free merchant account provider guarantees YOUR funds are always deposited to YOUR account on time, every time. Customers like Suzy no longer have to worry if this or that has been paid by her dear husband. No more additional expenses for late payments too!
* Faithful Customers
Offer recurring billing to your customers & they'll be hooked for life. Imagine buying a $100 product but paying for it in the next 4 months at only $25 a month! Tucker, along with his cohorts, will be more than pleased to buy all the gadgets they want. Merchants who don't offer recurring billing will most likely see their customers bring their business somewhere else - to their competitor.
* Less collection calls
If you're a small merchant, cutting corners is the name of your game. Recurring Billing lessens the number of collection calls made to customers as well as invoicing & mailing costs. It can also mean employees doing what they're actually paid to do & not waste time chasing after payments. These expenses can then be brought back to further expand what you're good at - selling your products and/or services.
For once, customers and merchants will agree: automation of payments as done with recurring billing is a benefit they'd all want to use for their own ends. Good thing, free merchant account providers these days offer recurring billing services for minimal fees. Take advantage of this service because everyday, there are new ways to maximize the benefits of recurring billing.
In conclusion, Recurring Billing saves time and money as well as cuts billing hassles. Suzy and Tucker can now finally sleep soundly at night - Tucker with his brand new laptop on installment payment, and Suzy - well Suzy's husband, - without worries of an unpaid bill.
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