Billing customers on subscription or recurring basis is a common business model. Subscription billing helps you maintain your customer loyalty. Your customers will save time, the cost of sending a check, and they’ll have one less bill to watch for.
Payment service providers generally allow you to accept subscription payment. To start billing your customers periodically, you need to send the billing plan to your payment service provider. Most payment service providers have API (application programming interface) and you need to implement the API according to your requirements.
Borneosoft Online Forms provides payment gateway that lets you easily set billing frequency (daily, weekly, monthly or yearly), number of intervals between each subscription billing (every 3 weeks, every 3 months, etc.), currency and the amount. To provide better experience and flexible billing plan to your customers, you can set the formulas to calculate the billing amount and frequency according to your customer selection in the form. You can add discounts to subscription fee when your customers select several products or services, allow your customers to add extras, etc. Your options are limitless.
The following video shows an example of magazine subscription form where the subscribers choose magazines and pay the first recurring fee. Subsequent recurring payments will be automatically processed according to the selected billing frequency.
In this example, we provide a discount when the subscriber selects more than one magazine. The discount is $10 times the number of magazines and the amount is subtracted from each magazine yearly fee. The subscriber can choose to pay monthly, quarterly or yearly and the total recurring payment is calculated accordingly. Further 5% or 10% discounts are applied when the subscriber chooses quarterly or yearly payment respectively. There is no further discount for the monthly payment. We also show the total yearly saving in dollar amount and percentage.