What is recurring payment?

An automatic subscription enables periodic or continuous payments for services without the need for manual data entry for each transaction.

It is ideal for services with monthly, quarterly or annual plans.

Allow your users to conveniently and securely pay for subscription services without manually entering payment details each month.

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How does automatic subscription work?

Step 1

The customer enters their card data during the first purchase.

Step 2

The card is securely stored and used for future transactions.

Step 3

Payments are made automatically on a predefined date.

Step 4

The user can cancel or modify the subscription at any time.

Advantages of Automatic Subscriptions for merchants:

Automatic Subscription (Recurring Payments) provides merchants with a stable and predictable revenue stream, while offering users a seamless payment experience without service interruptions.

This model is particularly beneficial for subscription-based businesses, such as streaming platforms, educational services, SaaS models, and gym memberships.

Stable and predictable revenue - Automated payments allow for accurate revenue planning and reduce the risk of missed payments.

Increased customer retention - Users are less likely to cancel their subscription when payments are automated, as they don’t need to enter payment details each time.

Reduced administrative work - Automatic billing eliminates the need to remind users to renew their subscriptions and manually process payments.

Security and compliance with PCI DSS standards - Tokenization protects card data and enables safe storage without additional security risks for merchants.

Fewer failed transactions - The system can automatically retry payments multiple times in case of a failed transaction.

Simple integration across industries - Ideal for services operating on a monthly or annual subscription model, including digital services, SaaS platforms, and fitness centers.

Where can it be used?

Streaming platforms

For services like video and music platforms, automated subscription billing allows users to enjoy content without interruption, while merchants secure regular revenue. Users enter their card details only once, and the system automatically charges a monthly, quarterly or annual subscription without the need for additional action, reducing service cancellation rates.

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Streaming platforme
Pretplate na edukaciju i kurseve

Education and online courses

E-learning and online course platforms often rely on a recurring payment model, allowing users to access premium content for a monthly or annual fee. Automatic billing eliminates the need for manual subscription renewals, ensuring uninterrupted access to courses and improving user retention.

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Software and SaaS models

In the SaaS industry, regular payments are the foundation of business. Whether it's productivity software, analytics tools, cloud services, or collaboration tools, automatic subscriptions ensure continuous use without fear of service interruption. Tokenization and secure payment processing systems guarantee the security of user data, while providing merchants with stable and predictable revenue.

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Softver i SaaS modeli
Članarine

Membership fees (gyms, sports centers, clubs)

In gyms, sports centers and clubs, automated membership fee collection facilitates business and reduces administrative work. Instead of manually processing payments or reminding members to renew their membership, the system automatically processes payments at agreed intervals. This enhances the user experience and ensures a steady cash flow without the risk of missed payments.

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Are Automatic Payments safe for users?

Automatic payments are secure when processed through reliable services, encrypted transactions, and additional protection provided by Chip Card technology.


Recurring Payments

Here are some of the elements used by the Chip Card solution that ensure the security of this type of payment:

SSL encryption

The payment page is secured with an SSL (Secure Sockets Layer) certificate that protects the data entered by the user.

PCI DSS standards

Chip Card complies with the highest data protection standards, such as PCI DSS standards, which relate to the processing of payment card data.

3D Secure authentication

3D Secure authentication additionally protects Automatic payments during the first transaction. When paying on the secure page of the Chip Card, the user/customer must verify the transaction with a one-time password (OTP) sent by his issuing bank via SMS.

Transaction monitoring

Chip Card, as well as merchants, can monitor transactions in real time and identify any “suspicious” transactions that will be further analyzed.

As with all other online transactions, it is important to exercise caution and use secure communication channels and reliable service providers to reduce the risk of fraud and unauthorized access to payment information. By following these guidelines, Automatic Payments are safe for both buyers and merchants.

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Chip Card offers a platform for the process of video identification and remote contracting with which you will complete the entire process from your office or living room in about 20 minutes. If you want to use our innovative service, check the following box after which our operator will contact you: