Recurring Billing
Automate your billing with recurring payments
Grow your revenue and customer base with technology
that leverages DebiCheck to bring you an
intelligent payment experience.
Digital debit orders
An intelligent solution that is one of South Africa’s most secure payment channels
Lower unpaid rate:
Recurring billing orders run just after pay day and early in the morning, reducing the risk of not getting paid.
Revenue growth:
Choose how you get paid with settings that suit the parameters of your business. More revenue, more often.
Minimize failed payments:
Collect payments automatically once. DebiCheck debit orders are not disputable by the consumer once the mandate is approved.
Remove fraud:
DebiCheck systems are completely secure.
Payment methods
Automated payment collections
LayUp offers an innovative way to accept payment without exposing your
business to risk. Now, you can authenticate, manage and collect on
DebiCheck mandates using your LayUp Merchant Dashboard.
How Recurring Billing works
DebiCheck is a secure debit order payment system that allows shoppers to electronically approve their debit order details at the start of a new payment contract
Your customer selects DebiCheck as the payment method and enters their bank details safely and securely.
This verification is done through their banking App. All they need to do is open their app and approve it.
This provides a second collection method for LayUp to collect instalments. Allowing for two collection options through card tokenisation.
With LayUp’s automated billing, collections and reconciliations, your future instalments will always be on time.
Your customer selects DebiCheck as the payment method and enters their bank details safely and securely.
This verification is done through their banking App. All they need to do is open their app and approve it.
This provides a second collection method for LayUp to collect instalments. Allowing for two collection options through card tokenisation.
With LayUp’s automated billing, collections and reconciliations, your future instalments will always be on time.
What is recurring billing?
Recurring billing and automated payments are essential for businesses of all sizes, as they help streamline and optimise your billing process while improving cash flow. By automating payments, you can reduce the amount of time spent on tedious administrative tasks and ensure that your customers always receive their invoices on time.
Additionally, automated payments offer a host of security benefits, such as reducing the risk of fraud and helping to mitigate against payment disputes or missed due dates.
Whether you run a small business or a large enterprise, recurring billing is an invaluable tool that can help you improve efficiency, grow revenue, minimise costs, and enhance customer satisfaction.
The importance of recurring billing and automated payments for businesses
At a time when businesses are facing an increasingly competitive landscape and ever-changing consumer demands, recurring billing and automated payments have become essential tools for helping companies manage their finances effectively.
What’s more, recurring billing allows businesses to set up automatic payment cycles, streamlining the billing process by eliminating manual steps such as invoicing and processing payments. This not only saves time and resources but also helps businesses better predict their cash flow and revenue streams, giving them more control over their financial management.
In addition to its practical benefits, automated payments can also help improve customer retention rates. By making it easier for customers to pay their bills on time, businesses can build stronger relationships with their customers and reduce the risk of churn or missed payments.
The types of recurring billing for business
There are a variety of different types of recurring billing that are commonly used by businesses and other organisations. These include subscription-based billing, usage-based billing, and tiered pricing models.
Subscription-based billing
One popular type of recurring billing is subscription-based billing, which typically involves charging customers on a regular basis for access to a specific service or product. This can be done through a monthly, yearly, or multi-year subscription plan, depending on the needs of the customer and the business providing the service.
Usage-based billing
Another common type of recurring billing is usage-based billing, which typically involves charging customers based on how much they use a particular service or product. For example, this could involve charging for data usage in cloud services like web hosting or storage or charging for the number of calls or messages sent through a telecommunications provider.
Tiered pricing
Finally, businesses may also use tiered pricing models to set different prices for their products or services based on different usage levels. This can be a useful approach for encouraging customers to upgrade to more premium options by offering them lower prices at the outset, while still generating some revenue from less frequent users. There are many different types of recurring billing that businesses can use in order to effectively manage their costs and generate revenue over time.
How Lay-Up can help set up recurring billings for your business?
Overall, recurring billing and automated payments are critical tools for helping businesses thrive in today’s fast-paced, competitive business environment. Whether you’re just starting out or looking to optimise your existing process, these solutions have the power to help your company succeed now and into the future.
And LayUp can help – with just a few clicks, you can create customised billing schedules and automatically charge your customers based on their usage or subscription.
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