Recurring billing is the automatic collection of payments at set intervals and amounts by storing the customer's card details with a secure infrastructure that holds PCI DSS certification.
Collecting and tracking recurring payments is a hard process for companies to manage. Collections can become difficult, especially in structures with variable pricing and many memberships. Payments defined as recurring will be sent to customers/subscribers at set intervals and collected. The customer's card details are saved, approval is obtained for the first transaction, and the automatic charge continues every month.
Is it mandatory to enter the card number, expiry date and CVV for authorization in recurring transactions?
For recurring transactions, the card number and expiry date are sufficient. Approval can be obtained without the CVV. When sending the transaction, it is enough to indicate in the transaction data that it is a recurring transaction.
Who are recurring payments suitable for?
Recurring payments are useful for companies that receive seasonal or periodic payments.
- Associations / foundations / sports clubs
- Industrial estate management offices
- Residence / housing complex management offices
- Chambers of commerce and commodity exchanges
- Schools / tutoring centers / university administrations
- Accountants / lawyers
