Recurring Payments: Another Useful Option in the OmniFund Platform
Added Convenience for You and Your Customers
Recurring payments are automatic charges processed when goods or services are provided at regular, repeated intervals (weekly, monthly, yearly). They are useful for everything from lawn care service and utilities to gym memberships and insurance premiums. You can also manage ongoing payments for rent, payment plans, medical billing, or debt collection. Whatever goods or services you provide, OmniFund makes it easy to set up and accept automatic payments from your customers.
Convenient Links, Downloads, and Plug-Ins
From direct integrations to OmniFund hosted payment pages, our Developer’s site offers a wide range of tools to help assist you with virtually any type of integration project you may be looking to build. Request a sandbox account today and start developing in a fully functional environment that allows you to test any scenario you may encounter once you go live.
Automation Eliminates Hassles
Setting up recurring payments saves you the trouble (and cost) of sending invoices every time goods or services are provided. Customers also appreciate the convenience of being able to “set it and forget it,” with no stress over whether they remembered to make a payment on time.
Recurring Payments Can Increase Customer Retention and Cash Flow
Save your customers time and energy by setting up automatic recurring payments. Your customers are more likely to keep subscriptions and memberships open without the worry of remembering to pay their bill each cycle; increasing retention rate and stabilizing cash flow.
Always Have the Most Recent Card Data on File with Account Updater
If you enable OmniFund’s Account Updater feature, you can be assured you’ll always have the latest card details (such as card number and expiration date) to avoid having a recurring payment declined if something changes. Declined payments can lead to service interruptions and unhappy customers.
Flexible Set-Up Options
With our payment platform, you can set up recurring transactions to process whenever you want. You can specify the amount, how often to process (from daily to yearly), how many times to process (12 times for a one-year monthly subscription, for example; or leave this section blank to let it run indefinitely), and even what day of the month you want to receive payment.
Create Installment and Layaway Plans
You can use the recurring transaction feature to set up a specific number of regular payments so customers can pay off larger purchases on an installment or layaway plan. For example, “six easy payments of $49.99 per month” can sound more appealing than $299.00 up front. Offering these options can increase sales and customer satisfaction.