Does 5-Star Processing Allow You A Recurring Billing Facility?
Okay, so, first things first! You were already aware of all the challenges associated with a high-risk business at the time of commencing yours. Weren’t you? Well, indeed, running a high-risk business is not easy at all. No matter what product or service your enterprise provides, a merchant always has to face many challenges. But wait!
Who told you that you have to face them alone? What if someone can help you by becoming a true friend to your business? You know what? A five-star payment processor subscription can get many of these challenges handled for you. Yes, you read that accurately! Processing payments of an enterprise is a hectic task for the entrepreneur. How does a day look like to you when you don’t have to worry about processing payment for your business? Guess what? Five-star processor (a successful merchant service lending company) is working very hard to turn this imagination into reality.
Five Star processing and recurrent billing
Five-star processing provides multiple payment processing services that can offer peace and assistance to a merchant in terms of his enterprise. It means you no longer need to relive those old days when you had to multitask for the sake of your business. Five-star processing is entirely ready to share your messy workload. Not just this, they also offer so many other perks that can handily drive the attention of a high-risk merchant. So, undoubtedly, it is high time to go for a five-star payment processing subscription.
We know it is already looking to be exciting to you. Isn’t it? But wait! Amidst all those benefits, will the five-star processors allow you a recurring billing facility? Can you rely on them in this case? Are the same questions striking your mind? Okay, you don’t need to worry about it. Because today, we will answer these worth answering questions for you. Not just this, we will also provide you with all the essential things you need to know about five-star processors and recurring bills. So, are you ready? Then, let’s begin right away-
What are recurring bills?
Merchants provide recurring bills for getting these payments. This type of payment is a kind of payment model. The consumer ratifies the merchant to take out funds from their respective bank account in this process. They facilitate the merchant to draw the funds automatically at regular time durations. This transaction takes place in exchange for goods and services landed by the merchant to the customer on a lasting basis.
The process is simple. The recurring billing seeks permission from the consumer. Once they give the authorization, the merchant can automatically deduct the amount at regular intervals until the consumer rescinds their approval or their submission terminates. This process takes place through payment cards or other methods including, Direct Debit find transfer or ACH of the consumer. You have to own a payment service provider and a merchant account to avail of this function. Thus, this is where you need a merchant service provider like five-star payment processors.
Recurring bills seek two types of payments. They are-
- Fixed or regular recurring payments-
In the protocol of this type of payment, the merchant charges the same payment amount each time from the customer.
- Variable or irregular payments-
In the protocol of this type of payment, the merchant charges different payment amounts each time from the customer. It depends on the product and service that he delivers to the consumer.
The merchant can also charge the customer through recurring bills for any membership, subscription, and recurring delivery of goods and services. Thousands of business entities are also opting for these automatic recurring bills.
However, there are also many challenges associated with recurring billings and subscriptions. But you can get multiple ways to overcome those challenges. One of these ways is working with a payment processor like five-star processors for the sake of your business.
What are the challenges associated with recurring billing?
Now, let’s discuss the advantages that recurring bills offer-
- Decreases the chances of late or missed payments-
You can get a double win for your business with the help of recurring bills. These bills will help you avoid late or missed payments from the customers and save your money. Here, by saving your money, we mean the amount you spend as an administrative amount to chase the payment and save your loss of payments. It sounds helpful. Isn’t it?
- Avoid hectic payment conversations with clients or customers every time-
It means that you no longer have to deal with wasting your time asking customers for processing payments. As the amount will get automatically deducted, you can focus on other essential things for your business. It also means that you don’t need to have those hectic conversations with the customer in exchange for goods and services.
- Easier accounting of payments and expenses-
As you don’t have to pay administrative costs, the accounting work will become susceptible. The whole process becomes digitized.
- Security of confidential data-
Recurring bills ensure that your client data stays safe between tokenization and PCI compliance that payment gateways use, and you live peacefully knowing that your client data is entirely secure.
- Better trade experience for the clients-
Recurring bills will not only provide a better experience to you but also to your users. It facilitates them to promote opportunities for organic promotion and conversion.
- Avails you to promote subscriptions altering opportunities of an offer to your clients-
As the process makes the work easier for you, you can offer a free trial opportunity to your new client. Besides this, you can also allow your existing customers to make their plans accordingly.
- Enhance client retention-
The nature of recurring bills is somewhat like set and forget. It means that it facilitates the consumer to enjoy the goods and services.
Will the five-star processing services facilitate you with a recurring bill facility?
You must know that five-star processing is a big name in the list of recurring bills facility providers. It means that this five-star service provider can provide five-star services to you, especially when it comes to offering recurring billing facilities.
So, the answer to your question is a big yes! Five-star processors are a huge success and can also make your business reach the heights of success. They are trustworthy and can be a friend in need for your business. So, don’t wait! Go for it! See you soon!