The businesses’ primary principle is to provide goods and services to get paid by other parties. The whole profit margin is to process demand and the way of accepting the payments. The popularity of eCommerce is increasing drastically; it has received more than 46% of the user penetration rate for digital commerce during 2020; the benefit of digital payment is not appealing to businesses.

The ability to accept online payment has become mandatory for businesses of all sizes and types. The importance of a recurring payment system has become quite relevant and useful these days. 

A recurring payment enables brands to go ahead with geographical limitations in simple terms of audience. It boosts revenue from capabilities brought by the systems, the advantage of recurring payment is endless, hence integrating it on your WordPress website has become the primary necessity. Before diving deep into the topic, let’s check about recurring payments.

What is Recurring Payment?

Recurring payments simply refers to AutoPay. It means customers provide permission to entrepreneurs to deduct the amount for goods and services from their bank account. It can also charge their credit card each month; business entrepreneurs remove the amount on the due date to avoid late fees. The automatic payments continue deduction continuous till the consumer revokes the permission. 

Most relevant examples include cell phone bills, cable bills, and other kinds of utility bills where customers don’t need to remember payment dates, the amount will be deducted automatically on the due date. Food business owners are also taking advantage of this facility and integrating a feature within their white label restaurant business apps where customers are given flexibility to make monthly or annual payment. So that regular customers will not have to worry about making payments as it streamlines the payment process and allows entrepreneurs to offer uninterrupted services. 

Advantages of Recurring Payments

• Reach global audience;
• Reduce transaction cost;
• Payment security;
• Optimize customer journey;
• Different payment method acceptance.

Recurring Payment: How to Accept it Through WordPress Website!Reports show that eCommerce sales have increased by 276.9% globally over recent times. Many businesses prefer to promote and advertise social content online in other countries. You can track engagement instead of testing sales; the best strategy is to experiment with the right marketing strategy in targeted regions where more than 60% of global online sales occur.

If you have an online business, then you can accept recurring payments from consumers in exchange for goods and services. However, getting repeat business from existing customers is relatively cheaper than acquiring a new one. Please make sure to design a business model that helps you drive more revenue from a loyal and stable customer base.

Recurring payment on a subscription or other basis was quite tricky in the past. The business has to send invoices to consumers, direct them to the payment form or punch in the credit card on every payment date. You can automate recurring billing or can accept repeat payments seamlessly without bothering your potential customers.

The recurring payment is the practice of crediting your customers at an interval set for some time. InsteadInstead of calling customers for the price, you can simply charge the amount from your customers’ credit card, again and again. No one has to perform anything manually; every task is carried out automatically. Check some essential points to find how you can accept recurring payments on the WordPress website.

WP Simple Pay with Stripe Payment

If you want a quick and easy way to accept recurring payments, it becomes essential for you to have a broader eCommerce functionality. It offers you a fast and smart way to start recurring payments through Stripe. Stripe is a popular payment option that makes it easier for you to accept online payments hassle-free with competitive fees.

Ease to use WP Simple Pay possesses Stripe and a streamlined interface, providing you with quick access to a recurring payment solution. You can even create a subscription product using the Stripe interface, making it easier to:

• Make practical currency choice;
• Choose amount;
• Set up a billing interval.

You can even enjoy the free version of WP Simple Pay; else, you can shift to paid one per your business requirement.

WooCommerce

It provides you with complete control over payment gateways and functionality as well. WooCommerce is a popular eCommerce plugin and platform to develop an eCommerce store. WooCommerce postures all features and functionality required to operate an eCommerce store; numerous users prefer to use these platforms for various reasons. One of the primary reasons is easy recurring payment.

If you choose to go for the paid plugin, you can easily create both complex and straightforward subscription offerings. Some of the top benefits of WooCommerce includes:

• Quick access to a wide range of WooCommerce payment options;
• You can be pretty creative with a paid version; it also enables you to stack it on other plugins, including Add-ons extension;
• Allows you to set recurring payments for other plugins such as a membership plugin.

You need to install a complete WooCommerce plugin to create an essential subscription. WooCommerce offers you numerous features and code that you do not require; the right approach introduces the best recurring payment method that eases your work. A subscription plan can provide you with more flexibility than you thrive on having.

PayPal: Easy Recurring Method to Make Payments

It’s the best option if you look for a systematic method with recurring payments and do not border the eCommerce functionalities. It is much like WP Simple Pay, but it’s not easy as it seems to use. Add email address and currency through the plugin setting. Now make use of shortcode to build a subscription button; this code includes:

[wp_paypal button=”subscribe” name=”My product” amount=”1.00″ recurrence=”1″ period=”M” src=”1″]

Each shortcode option is documented on the page. You need to add each shortcode to the page where you want to offer a recurring payment option. Once you add the code, the button will appear on the page of your choice. And once users click on the button, they will be redirected to the Paypal option, where they can explore more information right away.

WordPress Add-on for Recurring Payments

If you wish to have quick control over the functionality and features, you need to shift to the subscription option. It makes it easier for you to create an automatic payment option for users to enjoy with ease. There are numerous benefits which you can enjoy, some of them includes:

• Provide different payment options like PayPal, Stripe, etc.;
• Integrate other add-ons and create customized subscription products;
• Connect to a different type of plugins for making recurring payments.

There are few easy digital downloads over WooCommerce. Easy Digital Download’s primary benefit is its streamlined and lightweight features and functionality making it the best choice for recurring payment.

Use Buy Now Plus

You can use Buy Now Plus to accept recurring payments on the WordPress site. The platform enables you to get payment on the platform quickly and securely, without installing or purchasing SSL certificates. It also works amazingly with Stripe account; just code a create button to display it on your website. Later visit the “Buy Now Plus” platform and click on the “Start Selling” option to begin business operations.

Ending Note

There are numerous ways you can consider to start accepting recurring payments using the WordPress website. It just becomes essential for you to choose the best one to provide your customers a seamless payment experience. You can decide to go for the subscription-based digital option to start accepting recurring payments and leverage the platform’s unique features and functionality.