Best Tips to Manage Subscriptions and Recurring Billing

When you launch a system of recurring billing, you’ll quickly amass sensitive customer data you have to keep on file. All information on file should be securely stored and kept up to date.

The Recurring Transactions window appears, displaying all transactions that are scheduled to be executed today. It also displays transactions that were scheduled for days in the past, but have not been executed so far. Don’t try to go cheap on this particular process. It’s vital to invest time, money, and effort to keep your payment system as secure as possible.

In this guide, we outline the Operating Regulations as by Visa as well as other recommended best practices

Transaction Processing

• Include a CVV value in the First Authorization of a New Recurring Transaction and where available check the customer’s billing address by including Address Verification Data (AVS).
• Recurring eCommerce Transactions are highly recommended that merchants utilize Verified by Visa for the initial authentication of a new customer.
• Monitor the decline reasons and dates
• Make sure to include and monitor Expiry Dates of the transactions.

Understanding the RT Process and High-Risk Business Bank Accounts Planning

• Cardholders to choose their preferred billing date, it will help ensure that funds are available.
• Inform the customer of the “Doing Business As” or “Descriptor “name, the name that will publish on the Cardholder’s bank statement. Make sure it’s easily recognizable when billed each incident.
• Merchant Details must be clearly displayed at all time.
• Estimated Delivery Date of goods or services be advised.
• Provide the customer with confirmation that an RT agreement has been entered into.
• Train your sales and customer service staff on the proper procedures for setting up and submitting RTs, as they are particularly customer service sensitive.

The rules that need to be understood and useful guidance when accepting Recurring Transactions This will help ensure merchants and their customers enjoy a simple and efficient payment process, which is clearly understood by them and their customers.

More about learn trial continuity and subscription-based businesses.