How to choose the right recurring payment provider?

The market is filled with the payment processors, who “claim” to offer the best recurring payment management services. As a merchant who should compare this service before landing to one, this article can help you with your decision.


WHAT ARE RECURRING PAYMENTS?

After the customer’s approval, the merchant is allowed to deduct/collect a fixed amount of money after a fixed time interval (every month) for a specific product or service and is called recurring payments.
For example, if you are using a Netflix then you have entered your credit/debit card details while setting up the payment. Now, every month, Netflix deducts a fixed amount from your card to offer you the services.

There are two important aspects of recurring payments:

Processing – The modes both customer and merchant are using to complete a transaction. For instance, the customer can use the Visa Credit Card and Merchant uses Authorize.net as a payment gateway for the transaction.
Logic – This includes all things other than a transaction, such as a bill amount, cycle duration, alert message/email, and calculation too.

HOW TO GET RECURRING PAYMENT PROVIDER?

Now, there are a number of payment service providers available and it gets difficult to choose the one that suits all of the merchant’s needs. In such a case, the merchant can make the best choice by evaluation of the business requirement and comparing the available options.  
Here are some essentials that you will need while choosing the right recurring payment provider:

  • KEEP LOCATION IN MIND
  • TYPES OF PAYMENTS YOU NEED
  • PCI COMPLIANCE
  • TRANSACTION SECURITY
  • FREE TRIALS
  • USER-FRIENDLY
  • TECH SUPPORT

If you want to get more information related to the Recurring Payment Provider. You can Contact Us directly @ +1 (888) 622-6875, 
Also, You can visit our website - www.merchantstronghold.com
Location: Clearwater, FL, USA

Comments

Post a Comment

Popular posts from this blog

Why Cannabis Oil Is Big Business | Merchant Account for CBD

Image
Merchant Accounts for CBD CBD merchant accounts are our most in-demand product, for which we have proven domestic and offshore banking solutions for CBD merchants. Merchant Stronghold provides the best merchant services for your CBD Businesses . Legalization brings a lot of opportunities, including many that are unexpected. One of the biggest areas for expansion is cannabis oil. Cannabis oil can mean a lot of different things but most importantly, it’s giving consumers and entrepreneurs a new way to explore and benefit from the marijuana industry. Here’s why cannabis oil is big business, and how any entrepreneur can tap into this nascent market. The cannabis oil market is huge There are many different kinds of cannabis oil on the market. All of them are growing in popularity. The CBD market alone is predicted to reach $22 billion in 2022, according to Brightfield Group. The CBD market is blossoming CBD, short for cannabidiol, is the main non-psychoactive
Read more

How to avoid TMF or MATCH LIST?

Image
Firstly, follow the lawful business practices to never get quarantine by the Banks. After that you can avoid the following situations: Never try any kind of fraud Decrease the number of chargebacks Pay the debts on time If you owe any amount to the bank, try to return it in the stipulated time frame Finally, get an expert to help you with the troubles How to Get Off TMF List? If you are under the TMF list then the previous merchant service provider can help you understand the exact reason for your query. You need to reach out to the previous bank that offered you the merchant services. For that, you can contact their support number or send an email. Otherwise, the MasterCard generally put the merchant for 5 years in the MATCH list In the case of fraud, you are highly unlikely to get off the list. You need to know the reason and the reason code, under which you are added to the MATCH. Talk to the bank executive for the reason and take notes of the reason co
Read more

Important Factors of Merchant Account Processing

Image
You are new to the business or have lots of experience, you still might have some misconceptions about it. Not Worth the Time  – Firstly, entrepreneurs find that they have the  best payment processing  with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account. Expensive Affair  – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates. Misleading Promotion  – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the
Read more