For businesses that accept recurring payments, customer relationships last well beyond a single transaction. For these merchants and billers, it's critical to utilize payment tools that can minimize billing disruptions and maintain service continuity. This can reduce processing costs, maximize revenues, and strengthen customer satisfaction.
The merchant advantages are clear: predictable cash flow, lower costs, and improved customer retention. The consumer comes out ahead, too: less time and effort spent on bill payments and no service disruptions resulting from past due payments.
Working with the right payments partner is critical. Merchants should seek out a provider that not only offers expertise in recurring payments, but also has the necessary tools, technology, and resources to create the best possible solution.