What are recurring payments?
Recurring payments enable merchants to debit amounts from their customers’ bank cards at regular intervals (monthly, quarterly, etc.).
This payment method is commonly used for:
- Subscriptions (streaming platforms, gyms, magazines, etc.).
- Regular automatic payments for utilities such as electricity and water.
- Split payments, which enable customers to stagger payments for major purchases.
With recurring payments, customers no longer need to take action at each payment deadline: the entire process is automated.
The benefits of recurring payments for merchants
Heightened customer loyalty
Recurring payments promote a lasting relationship with your customers who will appreciate not having to renew their payments manually. This often builds loyalty and reduces the churn rate.
Predictable income
Thanks to regular payments, you enjoy greater visibility of your cash flow.
A simplified customer experience
By automating payments, you offer your customers a seamless and frictionless experience, which in turn improves their satisfaction and limits service cancellations and basket abandonment.
Reduced payment failures
Together with functionalities such as automatic card updating (using services such as Updat’R), you significantly reduce debit failures related to expired or replaced payment cards.
