Recurring payments are quickly gaining in popularity with both consumers and merchants because of the benefits it provides them. As an entrepreneur, you’ve probably considered accepting recurring payments as a method of ensuring consistent revenue streams but may not have done so yet due to the fees associated with taking them or simply not knowing how to get started.
But that’s what this guide will be all about! We’ll go over everything you need to know about recurring payments, which payment processors are best at handling them, and how you can start accepting them on your website today. Let’s dive right in!
Outline 1 – Why accept recurring payments
Recurring payments are an attractive proposition because they offer a steady streamlined revenue that keeps business funds up-to-date and flowing. Accepting recurring payments is a great option for a new business owner who wants to build their customer base, as it provides a steady streamlined revenue that can help a new business owner build momentum.
Outline 2 – The benefits of accepting recurring payments
One of the best things about accepting recurring payments is that you can get paid in advance. This means that you’ll have a monthly budget set aside just for your business, and this should save you a lot on expenses as well. You won’t have to worry about coming up with hundreds or even thousands of dollars in one day, so it’s really beneficial!
Outline 3 – What should I consider when selecting a payment processor?
If you plan on processing a lot of recurring payments or taking payments from a wide audience, it’s essential that you find a payment processor that fits your needs. There are many providers to choose from, but these three are our favorites for various reasons.
- Stripe is great if you have a high volume of transactions and need instant access to customer data.
- Chargebee provides an easy-to-use dashboard and has excellent reporting features.
- Braintree is one of the oldest in this space, so they know what they’re doing! Plus, Braintree supports hundreds of other countries in addition to the United States so their system works worldwide.
Outline 4 – Details about our top 3 picks for payment processors
Processing payments for your business is a headache. Thankfully, you have options that can make it easier. I’ll highlight our three favorite processors below, explaining their key features and who they’re best suited for. The following list is not exhaustive by any means; there are many other great services out there that might work well for you depending on your needs.
Stripe: The interface here is straightforward and easy to use. It’s great if you’re just getting started and want a simple setup process.
Outline 5 – Frequently asked questions
What are recurring payments?
How does a business benefit from accepting recurring payments? – What are the best payment processors for recurring payments? If you’re starting out and don’t have your own merchant account, we recommend using PayPal. Once you establish your brand, Square is a good option as they offer both debit and credit card processing. Other popular options include WePay and Stripe.
There are many providers to choose from, but these four are our favorites for various reasons: -Stripe is great if you have a high volume of transactions and need instant access to customer data. -Chargebee provides an easy-to-use dashboard and has excellent reporting features. -Braintree is one of the oldest in this space, so they know what they’re doing! Plus, Braintree supports hundreds of other countries in addition to the United States so their system works worldwide.