The more processes you can automate, the more time you'll have to focus on other, more pressing matters related to your business. That's especially true when it comes to invoicing. By leveraging recurring billing software to automate your payments, you'll free yourself up to focus on growing your business. Plus, your customers pay promptly, increasing your cash flow. Meanwhile, they'll enjoy a more frictionless checkout that allows them to pay without having to manually reenter their credit card info every time. With recurring payments, everyone wins.
What does it mean when a transaction is recurring?
While most commonly used for monthly subscriptions and memberships, recurring billing can be used for any specified period of time: weekly, bi-monthly, quarterly, yearly, and so forth.
The best part is, with the right payments partner, once you have your recurring billing system in place, your customers will only have to enter their payment information or bank account information once. The agreed upon amount will simply be charged to the customer's credit or debit card, or withdrawn from their account via an automated clearing house payment (ACH) automatically.
Automated billing solutions are ideal for a wide array of transactions including:
Software subscriptions and more.
Recurring billing systems reduce friction.
Today's tech-savvy consumers expect a seamless checkout experience, with as little "friction" as possible. The last thing you want to do is scare off potential long-term customers with transactions that are complicated or time consuming.
With recurring payments, you get a billing solution that only requires customers to enter their card information the initial time. That means increased approvals and reduced customer churn. It doesn't get more frictionless than that!
Recurring billing simplifies sales and inventory forecasting.
The more customers you have set up in your recurring billing system, the easier it will be to forecast your income. That in turn, makes it easier to manage your inventory, minimize your cancellations, and maximize your cash flow.
We simplify recurring payments.
Whether it's credit card payments or ACH payments, we'll help you offer your customers a recurring billing solution that simplifies your checkout while protecting sensitive data.
We offer a simple, step-by-step purchase process that will give your customers confidence that their payments are protected from fraudsters at every step of the transaction process through PCI-compliant tokenization, military-grade encryption, and more. We offer:
Seamless payment scheduling and processing.
Completely customizable checkout through our innovative APIs.
Support for international payments including multi-currency conversion.
Performance insights that will help you adjust your payment plans to eliminate cancellations.
Automatic account updater that requests new payment methods from customer's once the card you have on file expires or is replaced.
Inovio is proud to be a member of the Subscription Trade Administration (SUBTA), an organization dedicated to delivering innovations within the subscription payments industry.
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Inovio Payments, LLC is a registered ISO of BMO Harris Bank N.A., Chicago, IL.