Does your company offer expensive products or services, bill customers after the fact, or provide services on a monthly, or ongoing basis?
It’s time to take advantage of your recurring billing software and set up better recurring payments for your business.
Recurring billing is a common payment model companies use to charge customers at regular intervals instead of in a lump sum payment.
Some of the typical intervals companies use for a recurring bill are weekly, monthly, or a split number of equal payments.
When Recurring Billing is the Right Choice for Your Business
A well-designed recurring billing system creates a predictable, repeatable revenue stream that stabilizes your company’s monthly cash flow and simplifies billing processes.
Recurring payment processing also guarantees that customers won’t pay late or forget to make their payments. These recurring payment schedules can be used in a variety of payment scenarios.
Managing Unplanned Expenses
Resolving Past-Due Debts
For businesses or debt collection agencies dealing with overdue payments, offering a structured repayment plan can help recover funds while maintaining positive customer relationships.
Recurring billing makes it easier for clients to catch up without creating financial hardship.
Financing Large-Dollar Purchases
Simplifying Event Service Payments
Key Features to Look for in Recurring Billing Software
Choosing the right recurring billing software creates a smooth payment process, reduces manual work, and improves overall efficiency. Here are essential features to watch for:
- Flexibility: Recurring billing should accommodate a variety of payment schedules—monthly, quarterly, or custom intervals—so businesses can tailor billing to customer needs.
- Automation: Automation is the backbone of an effective recurring billing system. By automating payment reminders, invoice generation, and payment collection, businesses reduce manual errors and save valuable time.
- Integration: Integration helps centralize data, simplify workflows, and maintain consistency across all business operations. Open APIs are a way to connect payment tools to a desired system of record, for better reconciliation and interdepartmental processes.
- Security: Protecting customer data is essential for businesses handling recurring bills. Look for software that adheres to PCI compliance standards, offers data encryption, and provides secure payment tokenization.
- Reporting and analytics: Detailed reporting and analytics give businesses insights into payment trends, revenue forecasts, and customer behavior. Features like audit reporting can also provide visibility into payment histories and transactions for compliance purposes.
- Compliance and legal requirements: Compliance with legal and regulatory requirements is critical, particularly for industries requiring trust accounts or other financial safeguards. The right recurring billing software helps businesses meet these obligations while maintaining customer trust.
Benefits of Recurring Billing Software
Streamlined Payment Processes
Predictable Revenue Streams
Improved Customer Experience
Payment Compliance and Consent for Recurring Billing
EFT Authorizations
If you plan to take recurring ACH payments or debit payments, there are other considerations to follow.
Regulation E of the Electronic Funds Transfer Act (EFTA) states that businesses must obtain written consent on any EFT, including authorization before accepting recurring payments.
PCI Compliance
If your business accepts credit card payments (either one-time or recurring), you must stay PCI compliant with the guidelines the card industry has laid out.
These rules are designed to keep sensitive consumer card data safe.
Ensure your recurring billing software and payment gateway providers maintain PCI compliance to safeguard sensitive card information and protect against data breaches.
If recurring billing is important to you, be sure to find a payment software provider that can offer both features you want—like scheduled payments—and the safety you need through a commitment to data security.
Chargeback Prevention
Although credit cards aren’t EFTs, many systems do not differentiate between a credit or debit card at the time of payment. To avoid human error that may lead to a Regulation E violation, it is best practice to obtain payment consent on all transactions.
This thorough consent policy can also double as a chargeback prevention strategy.
Forgetting about a charge is a leading cause of initiating a chargeback. When consumers agree to a payment in writing, they are more likely to remember it, decreasing the chances of forgetting about the next scheduled payment.
In addition, using an authorization tool that uses dual authentication, has a date and time stamp and captures geolocation can also protect your business against fraud and help to fight chargebacks later.
Recurring Billing Software
Key Features
How PDCflow Helps
Get fast approvals for your recurring schedules with PDCflow.
Send payment consent requests via email or SMS for recurring payment schedules, and receive an esignature in minutes.
PDCflow’s recurring payment schedules automatically send a payment reminder.
Specify how many days before a scheduled payment a reminder should be sent.
Reminders include payment details and contact information.
PDCflow offers many options to customize a payment plan that works for your customers.
Choose:
- how frequently payments are processed.
- whether the plan is created using a set payment amount or length of the terms.
- whether to add fees to the payments.
Control the minimum amount any customer is allowed to pay per installment.
Use this global setting to ensure your payment schedules still bring in revenue in the short term.
Control the length of time customers can take to pay the full balance.
Cap how long any recurring schedule can run by limiting the number of payments or length of time customers can choose.
PDCflow makes it easier for your company to adhere to Payment Compliance Industry standards.
Our software captures and stores payment data for businesses, so you don’t have to.
PDCflow Recurring Billing Features
PDCflow’s recurring billing software creates better payment management for businesses of all sizes through flexible options, secure payments, automations, and integration options.
Whether you need to set up automated recurring billing plans, automate follow-ups, or maintain compliance, PDCflow offers the tools to manage payments efficiently and reliably.
Explore the key features that make PDCflow a trusted solution to manage recurring billing.
Flexible settings
Through our user-friendly online payment portal, customers can set up their own recurring payments, choosing amounts and schedules that suit their budget.
For added convenience, staff can also create recurring payment plans on behalf of customers, customizing timing and payment amounts as needed.
Additionally, administrators have full control over global settings, ensuring all recurring schedules align with company policies and preferences. This level of flexibility ensures a tailored payment experience for everyone involved.
Automation
Recurring billing with PDCflow eliminates manual tasks with several automation features.
- Automated payment schedules: PDCflow recurring payments run without manual intervention. Can be created by an employee, or through a self-serve payment portal.
- Automated reminders: Automated payment reminders ensure customers are notified of upcoming payments, reducing the chance of missed or late transactions.
- Automated receipts: Once a payment is processed, automated receipts are sent to confirm the transaction. This is good for customer experience and helps your business comply with payment regulations.
Security
PDCflow’s recurring billing software prioritizes security and compliance to protect both your business and your customers.
- PCI compliance: Our solution adheres to PCI compliance standards to safeguard sensitive payment information, ensuring all transactions are processed securely.
- Regulation E compliance: For businesses handling electronic payments, Regulation E compliance ensures your recurring billing practices meet legal requirements.
- HIPAA compliance: Additionally, PDCflow supports HIPAA compliance, making it a safe choice for industries handling protected health information (PHI) in relation to recurring billing—like medical billing or healthcare organizations.
- Audit reporting: To maintain transparency and accountability, PDCflow offers audit reports that document transaction details. These reports provide businesses with the visibility needed for compliance, dispute resolution, and financial oversight.
Integration
PDCflow offers integration options that make it simple to access recurring billing schedules, other payment features, and even esignature and document delivery via email and SMS.
Use PDCflow’s API integrations and access valuable recurring billing, esignature and communication tools directly from your system of record. Our integrations:
- Are developer-friendly: Receive PDCflow developer support and test functionality in a sandbox account.
- Are low-code: Integrate PDCflow’s features with minimal development work.
- Includes drop-in components: Pre-built components give developers fast access to PDCflow's payment and digital communication infrastructure.
By adopting recurring billing software, businesses can improve cash flow, reduce manual tasks, and create a custom payment experience that supports growth and efficiency.
Want to learn more? Meet with a PDCflow representative today.
Book Demo:
Want to know more about PDCflow Software?
Press ▶️ to watch our explainer video
ONE-STEP PROCESS
- ABOUT THE AUTHOR -
Hannah Huerta, Marketing Specialist
Hannah Huerta is a Marketing Specialist at PDCflow. She creates content for the accounts receivable and payment industry.
Related Articles
