{"id":3915,"date":"2024-10-15T18:09:48","date_gmt":"2024-10-15T12:39:48","guid":{"rendered":"https:\/\/in.nttdatapay.com\/blog\/?p=3915"},"modified":"2025-07-10T12:35:08","modified_gmt":"2025-07-10T07:05:08","slug":"what-is-recurring-payment","status":"publish","type":"post","link":"https:\/\/in.nttdatapay.com\/blog\/what-is-recurring-payment\/","title":{"rendered":"What is Recurring Payment: Meaning, Types and Benefits"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Recurring payments have become integral to both B2B and B2C business models. They enable merchants to charge customers automatically on a predefined recurring schedule for ongoing services or subscriptions. This payment method offers advantages over one-time transactions for specific use cases.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Let\u2019s explore what is recurring payment and also the types, and key benefits.<\/span><\/p>\r\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2460-o1\" lang=\"en-GB\" dir=\"ltr\" data-wpcf7-id=\"2460\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/3915#wpcf7-f2460-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"2460\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.4\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_GB\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f2460-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"cus-form\">\n\t<p style=\"font-size: 24px;font-weight: 600;text-align: center;\">Enquire Now\n\t<\/p>\n\t<p><label>Products Required:<\/label><span class=\"wpcf7-form-control-wrap\" data-name=\"products\"><select class=\"wpcf7-form-control wpcf7-select wpcf7-validates-as-required form-control\" aria-required=\"true\" aria-invalid=\"false\" name=\"products\"><option value=\"Payment Gateway\">Payment Gateway<\/option><option value=\"POS Machine\">POS Machine<\/option><option value=\"Reseller\">Reseller<\/option><\/select><\/span><br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"uname\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required form-control\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Name*\" value=\"\" type=\"text\" name=\"uname\" \/><\/span><br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"phone\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-tel wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-tel form-control\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone*\" value=\"\" type=\"tel\" name=\"phone\" \/><\/span><br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email form-control\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Email*\" value=\"\" type=\"email\" name=\"email\" \/><\/span><br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"message\"><textarea cols=\"10\" rows=\"3\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea form-control\" aria-invalid=\"false\" placeholder=\"Message\" name=\"message\"><\/textarea><\/span><br \/>\n\t\n\t<input class=\"wpcf7-form-control wpcf7-hidden\" id=\"utm\" value=\"\" type=\"hidden\" name=\"utm\" \/><input class=\"wpcf7-form-control wpcf7-submit has-spinner\" type=\"submit\" value=\"Submit\" \/>\n\t<\/p>\n<\/div>\n<style>\n.cus-form .form-control{width: 100%!important;margin: 7px 0px;padding: 8px;border-radius: 3px;height: auto;line-height: 20px;}\n.cus-form{display: block;margin: 0 auto;max-width: 400px;width: 100%;padding: 20px;box-shadow: 0px 0px 4px 0px #0000002b;border-radius: 6px;margin-bottom: 25px;padding-bottom: 0px;}\n.cus-form .wpcf7-submit{margin: 0 auto;display: block;}\n.cus-form h3{background: #ff6644;text-align: center;margin: -21px;margin-bottom: 20px;padding: 6px;}\n<\/style>\n<p><script>\ndocument.getElementById(\"utm\").value = window.location.href;\n\ndocument.addEventListener( 'wpcf7mailsent', function( event ) {\n location = 'https:\/\/in.nttdatapay.com\/blog\/thankyou\/';\n}, false );\n<\/script>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\r\n<h2><span style=\"font-weight: 400;\">Understanding The Recurring Payment<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">Recurring payments have become increasingly important in today&#8217;s subscription-driven economy. From SaaS and streaming services to utilities and rent, the recurring billing model has grown tremendously in India in recent years as digital transactions boomed.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">According to a report by an <a href=\"https:\/\/in.nttdatapay.com\/blog\/budget-2020-fintech-industry-expectations\/\">Indian FinTech<\/a> corporation, recurring payments in India grew over 100% in 2021 and are expected to account for 56% of all online transactions by 2024. The COVID-19 pandemic accelerated this shift as lockdowns increased subscription adoption for streaming, ed-tech, and online services.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">India now has over 450 million online shoppers who are increasingly comfortable with recurring billing for e-commerce subscriptions, utilities, and other use cases. As e-commerce grows rapidly in India, recurring payments are also expected to play a pivotal role.\u00a0<\/span><\/p>\r\n<h2 style=\"text-align: center;\"><span id=\"Recent_Web_Stories\">Recent Web Stories<\/span><\/h2>\r\n\t\t<div class=\"web-stories-list alignnone has-archive-link is-view-type-circles is-style-default is-carousel\" data-id=\"1\">\n\t\t\t<div\n\t\t\tclass=\"web-stories-list__inner-wrapper carousel-1\"\n\t\t\tstyle=\"--ws-circle-size:150px\"\n\t\t\t>\n\t\t\t\t\t\t\t\t\t<div\n\t\t\t\t\tclass=\"web-stories-list__carousel circles\"\n\t\t\t\t\tdata-id=\"carousel-1\"\n\t\t\t\t\tdata-prev=\"Previous\"\n\t\t\t\t\tdata-next=\"Next\"\n\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\t<div\n\t\t\t\tclass=\"web-stories-list__story\"\n\t\t\t\tdata-wp-interactive=\"web-stories-block\"\n\t\t\t\tdata-wp-context='{\"instanceId\":1}'\t\t\t\tdata-wp-on--click=\"actions.open\"\n\t\t\t\tdata-wp-on-window--popstate=\"actions.onPopstate\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<div class=\"web-stories-list__story-poster\">\n\t\t\t\t<a href=\"https:\/\/in.nttdatapay.com\/blog\/web-stories\/future-of-digital-currency-how-to-use-cbdc-in-india\/\" >\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-640x853.jpg\"\n\t\t\t\t\t\talt=\"Future of Digital Currency: How to Use CBDC in India\"\n\t\t\t\t\t\twidth=\"185\"\n\t\t\t\t\t\theight=\"308\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tsrcset=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page.jpg 640w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-105x140.jpg 105w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-311x414.jpg 311w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-149x199.jpg 149w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-60x80.jpg 60w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Future-of-Digital-Currency-How-to-Use-CBDC-in-India-poster-page-150x200.jpg 150w\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tsizes=\"auto, (max-width: 640px) 100vw, 640px\"\n\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div\n\t\t\t\tclass=\"web-stories-list__story\"\n\t\t\t\tdata-wp-interactive=\"web-stories-block\"\n\t\t\t\tdata-wp-context='{\"instanceId\":1}'\t\t\t\tdata-wp-on--click=\"actions.open\"\n\t\t\t\tdata-wp-on-window--popstate=\"actions.onPopstate\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<div class=\"web-stories-list__story-poster\">\n\t\t\t\t<a href=\"https:\/\/in.nttdatapay.com\/blog\/web-stories\/top-reasons-why-online-payment-fails\/\" >\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-640x853.jpg\"\n\t\t\t\t\t\talt=\"10 Top Reasons Why Online Payment Fails?\"\n\t\t\t\t\t\twidth=\"185\"\n\t\t\t\t\t\theight=\"308\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tsrcset=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page.jpg 640w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-105x140.jpg 105w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-311x414.jpg 311w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-149x199.jpg 149w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-60x80.jpg 60w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Top-Reasons-Why-Online-Payment-Fails-poster-page-150x200.jpg 150w\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tsizes=\"auto, (max-width: 640px) 100vw, 640px\"\n\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div\n\t\t\t\tclass=\"web-stories-list__story\"\n\t\t\t\tdata-wp-interactive=\"web-stories-block\"\n\t\t\t\tdata-wp-context='{\"instanceId\":1}'\t\t\t\tdata-wp-on--click=\"actions.open\"\n\t\t\t\tdata-wp-on-window--popstate=\"actions.onPopstate\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<div class=\"web-stories-list__story-poster\">\n\t\t\t\t<a href=\"https:\/\/in.nttdatapay.com\/blog\/web-stories\/what-are-upi-transaction-mistake\/\" >\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-640x853.jpg\"\n\t\t\t\t\t\talt=\"What Are UPI Transaction Mistake?\"\n\t\t\t\t\t\twidth=\"185\"\n\t\t\t\t\t\theight=\"308\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tsrcset=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page.jpg 640w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-105x140.jpg 105w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-311x414.jpg 311w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-149x199.jpg 149w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-60x80.jpg 60w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/What-Are-UPI-Transaction-Mistake-poster-page-150x200.jpg 150w\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tsizes=\"auto, (max-width: 640px) 100vw, 640px\"\n\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div\n\t\t\t\tclass=\"web-stories-list__story\"\n\t\t\t\tdata-wp-interactive=\"web-stories-block\"\n\t\t\t\tdata-wp-context='{\"instanceId\":1}'\t\t\t\tdata-wp-on--click=\"actions.open\"\n\t\t\t\tdata-wp-on-window--popstate=\"actions.onPopstate\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<div class=\"web-stories-list__story-poster\">\n\t\t\t\t<a href=\"https:\/\/in.nttdatapay.com\/blog\/web-stories\/book-tickets-on-irctc-with-international-debit-credit-cards\/\" >\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-640x853.jpg\"\n\t\t\t\t\t\talt=\"Book Tickets on IRCTC with International Debit &#038; Credit Cards\"\n\t\t\t\t\t\twidth=\"185\"\n\t\t\t\t\t\theight=\"308\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tsrcset=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards.jpg 640w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-105x140.jpg 105w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-311x414.jpg 311w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-149x199.jpg 149w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-60x80.jpg 60w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/Book-Tickets-on-IRCTC-with-International-Debit-Credit-Cards-150x200.jpg 150w\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tsizes=\"auto, (max-width: 640px) 100vw, 640px\"\n\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div\n\t\t\t\tclass=\"web-stories-list__story\"\n\t\t\t\tdata-wp-interactive=\"web-stories-block\"\n\t\t\t\tdata-wp-context='{\"instanceId\":1}'\t\t\t\tdata-wp-on--click=\"actions.open\"\n\t\t\t\tdata-wp-on-window--popstate=\"actions.onPopstate\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<div class=\"web-stories-list__story-poster\">\n\t\t\t\t<a href=\"https:\/\/in.nttdatapay.com\/blog\/web-stories\/how-to-create-a-payment-gateway-api\/\" >\n\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-640x853.jpg\"\n\t\t\t\t\t\talt=\"How To Create a Payment Gateway API?\"\n\t\t\t\t\t\twidth=\"185\"\n\t\t\t\t\t\theight=\"308\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tsrcset=\"https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page.jpg 640w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-105x140.jpg 105w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-311x414.jpg 311w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-149x199.jpg 149w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-60x80.jpg 60w, https:\/\/in.nttdatapay.com\/blog\/wp-content\/uploads\/2024\/03\/How-To-Create-a-Payment-Gateway-api-poster-page-150x200.jpg 150w\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tsizes=\"auto, (max-width: 640px) 100vw, 640px\"\n\t\t\t\t\t\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<div tabindex=\"0\" aria-label=\"Previous\" class=\"glider-prev\"><\/div>\n\t\t\t\t\t<div tabindex=\"0\" aria-label=\"Next\" class=\"glider-next\"><\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\r\n<h2><span style=\"font-weight: 400;\">What is Recurring Payments?<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">A recurring payment refers to an automated <a href=\"https:\/\/in.nttdatapay.com\/blog\/auto-debit-vs-manual-payment-processing\/\">payment process<\/a> where pre-authorised transactions are charged to a customer&#8217;s credit\/debit card or bank account at regular intervals, like monthly or annually. The amount charged each cycle can vary depending on usage or remain fixed.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400;\">Types Of Recurring Payments<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">The four types of recurring payments are<\/span><\/p>\r\n<ol>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Subscriptions:<\/b><span style=\"font-weight: 400;\"> For memberships, online content\/streaming, and software licenses charged monthly\/annually.\u00a0<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Instalments:<\/b><span style=\"font-weight: 400;\"> EMIs or loan repayment in fixed amounts over the tenure.\u00a0<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Utilities:<\/b><span style=\"font-weight: 400;\"> Recurring bills like electricity, gas, cable\/internet are typically charged monthly. Insurance or SIP payments.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rent\/Mortgage:<\/b><span style=\"font-weight: 400;\"> Property rent\/EMI is regularly deducted from the tenant\/owner&#8217;s account.<\/span><\/li>\r\n<\/ol>\r\n<h2><span style=\"font-weight: 400;\">How Do Recurring Payments Work?<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">The customer and the business enter into an agreement through recurring payments, wherein the customer commits to making regular payments, and the business commits to continue providing the product or service for as long as the payments are received. The customer can renew or cancel the subscription when the contract expires.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">Here\u2019s a step-by-step process to understand recurring payments:<\/span><\/p>\r\n<ul>\r\n<li><span style=\"font-weight: 400;\"><strong>Step 1:<\/strong> Upon subscribing to your product or service, customers can select a payment method (Credit Card, Direct debit, ACH, or UPI Autopay).<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\"><strong>Step 2:<\/strong> Subsequently, the customer can input their initial payment details, which are encrypted and securely stored in a payment gateway to process successive payments.<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\"><strong>Step 3:<\/strong> The payment intermediaries, including the acquiring bank, credit card network, and issuing bank, authorise the transaction, facilitating the payment transfer to the <\/span><a href=\"https:\/\/in.nttdatapay.com\/blog\/difference-between-a-payment-gateway-and-a-merchant-account\/\"><span style=\"font-weight: 400;\">merchant account.<\/span><\/a><\/li>\r\n<li><span style=\"font-weight: 400;\"><strong>Step 4:<\/strong> Payments are then automatically debited per a predetermined billing schedule for the duration of an active subscription, eliminating the necessity to input payment details for each payment cycle manually.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400;\">7 Benefits For Recurring Payments<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">Here are some benefits of recurring payments:<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">1. Revenue Predictability\u00a0<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Recurring payments allow <\/span><a href=\"https:\/\/in.nttdatapay.com\/blog\/vendor-payments-meaning-and-procedure\/\"><span style=\"font-weight: 400;\">merchants<\/span><\/a><span style=\"font-weight: 400;\"> to accurately forecast cash flows and revenue on a monthly\/annual basis. This helps with budgeting, financial planning, and securing financing.\u00a0<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">2. Reduced Transaction Costs<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Processing single transactions involves higher per-transaction fees compared to bulk recurring payments. Automation lowers the total cost of accepting payments.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">3. Increased Average Order Value\u00a0<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Customers tend to spend more through subscriptions than one-time purchases. Recurring transactions thus boost average order sizes over time.\u00a0<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">4. Reduced Cart Abandonment<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Automatic renewals prevent services from lapsing due to missed or <a href=\"https:\/\/in.nttdatapay.com\/blog\/reduce-payment-delays-in-employee-vendor-supplier-payouts\/\">delayed one-time payments<\/a>. This improves retention and customer experience.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">5. Improved Customer Loyalty<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Convenient auto-payments encourage repeat purchases and long-term engagement through loyalty programs, discounts on renewals, etc.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">6. Access To New Customer Cohorts<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">The recurring model enables addressing new use cases and verticals like utilities, rent, SaaS, eLearning, etc., expanding total addressable markets.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400;\">7. Actionable Customer Insights:<\/span><\/h3>\r\n<p><span style=\"font-weight: 400;\">Usage data from recurring transactions aids in understanding spending patterns and preferences to refine product-market fit over time.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400;\">Benefits For Merchants<\/span><\/h2>\r\n<ol>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Retention:<\/b><span style=\"font-weight: 400;\"> Reduces churn by automating renewals without manual intervention.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cash Flow:<\/b><span style=\"font-weight: 400;\"> Predictable income stream for budgeting and financial planning.\u00a0<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Convenience:<\/b><span style=\"font-weight: 400;\"> Saves time spent on processing one-time transactions repeatedly.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Uptime:<\/b><span style=\"font-weight: 400;\"> Ensures services are paid for and remain active without lapses.<\/span><\/li>\r\n<\/ol>\r\n<h2><span style=\"font-weight: 400;\">Benefits For Customers\u00a0\u00a0<\/span><\/h2>\r\n<ol>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Convenience:<\/b><span style=\"font-weight: 400;\"> &#8216;Set and forget&#8217; payments without manual bill payments.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Savings:<\/b><span style=\"font-weight: 400;\"> Sign up for discounts and loyalty benefits for long-term commitments.<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Flexibility:<\/b><span style=\"font-weight: 400;\"> Ability to pause\/cancel recurring transactions with merchants.<\/span><\/li>\r\n<\/ol>\r\n<h2><span style=\"font-weight: 400;\">How To Stop A Recurring Payment<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">When subscribing to a service, you are supposed to carefully monitor the setup process to ensure that automatic recurring billing is not enabled unless intentionally chosen.<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">In order to terminate recurring payments, the following steps should be taken:<\/span><\/p>\r\n<ol>\r\n<li><span style=\"font-weight: 400;\"> Contact the company through support emails or calls, clearly stating your request to cancel the subscription and providing the necessary account information for easy identification.<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\"> Though the customer service representative may offer discounts or special deals to encourage you to stay, politely decline and reiterate your wish to cancel.<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\"> If persuasion persists, politely request to speak with a supervisor for expedited processing of your cancellation request.<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\"> Upon completion, confirm the receipt of the cancellation notification.<\/span><\/li>\r\n<\/ol>\r\n<p><span style=\"font-weight: 400;\">You can also explore the <\/span><a href=\"https:\/\/in.nttdatapay.com\/blog\/what-is-an-internet-merchant-account-and-how-to-accept-payments\/\"><span style=\"font-weight: 400;\">merchant<\/span><\/a><span style=\"font-weight: 400;\"> application or platform, which might provide you with a recurring payment cancellations option.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400;\">Secure Your Online Payments With NTT Data Payment Services<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">As one of the largest payment gateways in the country, NTT DATA Payment Services provides merchants across sectors with robust APIs and plugins to integrate automated recurring payments easily. Our payment platforms are also tailored to meet regulatory compliance standards.\u00a0<\/span><\/p>\r\n<p><a href=\"https:\/\/www.nttdatapay.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">NTT DATA Payment Services<\/span><\/a><span style=\"font-weight: 400;\"> offers a complete payment solution to advance both your offline and online businesses <\/span>from, <span style=\"font-weight: 400;\"><!-- \/wp:post-content -->\r\n\r\n<!-- wp:list --><\/span><\/p>\r\n<ul><!-- wp:list-item -->\r\n<li><a href=\"https:\/\/www.nttdatapay.com\/online-payment-gateway-india\" target=\"_blank\" rel=\"noopener\">Online Payment Gateway<\/a><\/li>\r\n<!-- \/wp:list-item -->\r\n\r\n<!-- wp:list-item -->\r\n<li><a href=\"https:\/\/www.nttdatapay.com\/swipecard-pos-machine\" target=\"_blank\" rel=\"noopener\">POS machines<\/a><\/li>\r\n<!-- \/wp:list-item -->\r\n\r\n<!-- wp:list-item -->\r\n<li><a href=\"https:\/\/www.nttdatapay.com\/ivr-payment-system\" target=\"_blank\" rel=\"noopener\">IVR payments<\/a><\/li>\r\n<!-- \/wp:list-item -->\r\n\r\n<!-- wp:list-item -->\r\n<li>Mobile applications, and<\/li>\r\n<!-- \/wp:list-item -->\r\n\r\n<!-- wp:list-item -->\r\n<li><a href=\"https:\/\/in.nttdatapay.com\/blog\/bharat-qr-code-how-it-works-and-benefits\/\">Bharat QR Scan and Pay<\/a><\/li>\r\n<!-- \/wp:list-item --><\/ul>\r\n<p><span style=\"font-weight: 400;\"><!-- \/wp:list -->\r\n\r\n<!-- wp:paragraph --><\/span> We <span style=\"font-weight: 400;\">ensure maximum comfort, convenience, and safety for all your payments.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400;\">Simplifying Payments For Merchants And Customers With Recurring Transaction Automation<\/span><\/h2>\r\n<p><span style=\"font-weight: 400;\">Recurring payments are becoming increasingly popular in India, especially for subscription services. Recurring digital transactions are estimated to grow over 3x in the next five years. This reflects the rapid rise of digital subscriptions across diverse sectors like OTT, fintech, ed-tech, and more.\u00a0<\/span><\/p>\r\n<p><span style=\"font-weight: 400;\">As e-commerce grows, recurring payments will be pivotal in subscription-based business models. Integrating them requires a robust payment platform for seamless automation.<\/span><\/p>\r\n<!-- \/wp:paragraph -->\r\n\r\n<!-- wp:table -->\r\n<figure class=\"wp-block-table\">\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center;\"><em>Also, you can get frequent updates on <a href=\"https:\/\/www.instagram.com\/nttdatapayments\/\" target=\"_blank\" rel=\"noopener\">nttdatapayments<\/a> Instagram page.<\/em><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n<h2 style=\"text-align: center;\"><span style=\"font-weight: 400;\">Recurring Payment: FAQs<\/span><\/h2>\r\n<h4><strong>1. What are the types of recurring payments?<\/strong><\/h4>\r\n<p><span style=\"font-weight: 400;\">The main types of recurring payments include<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subscriptions<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Installment, utilities (EMI, load)<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rent\/mortgage<\/span><\/li>\r\n<\/ul>\r\n<h4><span style=\"font-weight: 400;\"><strong>2. What are the benefits of recurring payments?\u00a0<\/strong>\u00a0<\/span><\/h4>\r\n<p><span style=\"font-weight: 400;\">Key benefits include\u00a0<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Retention of customers<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Predictable cash flows<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Convenience by reducing manual transactions<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensuring services remain active without lapses in payments<\/span><\/li>\r\n<\/ul>\r\n<h4><strong>3. What is meant by recurring payment?<\/strong><\/h4>\r\n<p><span style=\"font-weight: 400;\">A recurring payment is an automated process where pre-authorised transactions are charged to a customer&#8217;s account at regular intervals, like monthly or annually, for ongoing services. The amount can vary or remain fixed.<\/span><\/p>\r\n<h4><strong>4. Why do merchants integrate recurring payments?<\/strong><\/h4>\r\n<p><span style=\"font-weight: 400;\">Merchants integrate recurring payments for the following reasons:<\/span><\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer Retention<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Predictable Cash Flow\u00a0<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Convenience<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Uptime\u00a0 Without lapses<\/span><\/li>\r\n<\/ul>\r\n<h4><strong>5. What are the advantages for customers?\u00a0<\/strong><\/h4>\r\n<p><span style=\"font-weight: 400;\">Customers benefit from the convenience of &#8216;set and forget&#8217; payments without manual bills. Sign-up discounts and loyalty benefits for long-term commitments can also be used through recurring transactions.<\/span><\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Recurring payments have become integral to both B2B and B2C business models. They enable merchants to charge customers automatically on a predefined recurring schedule for ongoing services or subscriptions. This&#8230; <!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":4752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,16],"tags":[95],"class_list":["post-3915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-payment","tag-what-is-recurring-payment"],"_links":{"self":[{"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/posts\/3915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/comments?post=3915"}],"version-history":[{"count":6,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/posts\/3915\/revisions"}],"predecessor-version":[{"id":4335,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/posts\/3915\/revisions\/4335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/media\/4752"}],"wp:attachment":[{"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/media?parent=3915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/categories?post=3915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in.nttdatapay.com\/blog\/wp-json\/wp\/v2\/tags?post=3915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}