Recurring payments, known also as recurring billings or subscriptions, is a mechanism that processes payments for all kinds of repetitive transactions. This payment method allows e-businesses to collect money from customers’ card, bank account or PayPal account. Once the client agrees, payment is initiated regularly at set time intervals.
How recurring payments work
Your client has to create an account on your website and order your service. When it comes down to the payment process they fill out the payment form, with the card or bank account data (such as card or bank account number, card expiration date, cardholder name, CVV etc.) or are sent to their PayPal account. Data are collected when clients create an account on an e-business website or after the trial version’s expiration. This is also the moment when you ask your clients for permission to collect recurring payments.
After first processed transaction you receive from PayLane your transaction ID. After 30 days or any other payment period, your system, through PayLane API, makes the next payment. To do it, there is no need to ask the payer to enter card or bank account data once again. The payment takes place using the transaction ID from the first purchase and transaction amount, which can be changed, so if your clients upgrades their account there is no need to ask him again for permission.
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We all know that every self-respecting businessman has a mentor – someone who’ll teach the nuts and bolts of the bizworld, lead the way or offer a priceless piece of advice. But we also know that not everyone’s lucky enough to have someone like that in their life. What should you do then? Well, you can either decide that you don’t need others’ wisdom or you can look for it elsewhere. And what’s a better place for that than the internet? And so, to make it even easier for you to find it (cause we all know how big the internet is), we’ve decided to collect our favourite business (but not only!) quotes that will hopefully inspire, motivate and provoke you. We have chosen wise and witty words from some of the world’s greatest entrepreneurs and leaders, starting from Steve Jobs and Bill Gates, through Ted Turner, J. Paul Getty and ending on Guy Kawasaki, who will surely inspire you to action!
Without further ado, let me present to you… BANKS QUOTES!
If you like it, make sure to follow Banks Quotes on Tumblr, Facebook and Pinterest!
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This time we’ve got something for the start-up community. If you decide to create your business it might be useful to know your potential investors’ point of view. Better listen criticism and correct mistakes now than close the project before it develops properly.
I have talked to Bartłomiej Gola, the Managing Partner of SpeedUp Group, an entrepreneur and innovator, about the future of start-ups, why great engineers fail, the difference between local and international business and how to find an investor for your start-up.
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It’s been a year since the launch of Google+ and one might wonder what’s happened in that time – no doubt Google is working hard to promote their social network. On one hand we see impressive growth numbers, but on the other we still spend more time on Facebook and hear that many of the Google+ profiles are in fact ‘dead’. Although Google has already shut down some of their projects in the past, it’s difficult to imagine that the same awaits their social network – it’s in a too advanced stage to back down and, as it seems, Google cares too much about it. So what does the future hold for Google+?
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Sofortbanking (which is called sofortuberweisung in Germany) is a payment system, which gives customers an ability to pay by a wire transfer from lots of European banks. Sounds great, doesn’t it?
The idea is pretty simple (and clever at the same time). Their systems are integrated with a lot of banks from around the Europe and they offer payments through these banks in one web interface. So if you want to pay in a web store, you have to be forwarded to sofort’s website, where you need to choose your bank, put your login, password and some token and… just click the submit button.
Sounds great, so what’s the problem?
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We all know that high security is a must for every business. One of the ways to ensure the safety of your clients’ money is implementing 3-D Secure. But what does it mean from the technical side?
Thanks to PayLane’s implementation of the 3-D Secure technology, it is not merchants, but banks that are responsible for chargebacks in case of fraud transactions, on condition that:
- 3-D Secure has been activated for the card,
- the payer has been redirected by the merchant to a website where the card authentication takes place,
- the authentication process is successful.
To make it easier for merchants to use 3-D Secure, without requiring them to have in-depth knowledge of the whole authentication process, we have brought it down to 2 functions called through API.
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Chargebacks and retrieval requests are inevitable part of doing online business. Many businesses need to handle chargebacks and retrievals on a daily basis, while for some others a chargeback or retrieval request is a rare thing. Yet in both cases it is good to know what the difference between the chargeback and retrieval request is. This knowledge will enable you to react quickly and take the appropriate measures to resolve these situations in a timely and efficient manner when they occur.
A retrieval request, also known at some banks as “soft” chargeback, takes place when the credit card issuer contacts the merchant to obtain information about a transaction charged to one of its cardholders. The reasons for retrievals can be various: it may be a result of a customer question or dispute, inaccurate or incomplete transaction information, a processing error or an indication of potential fraud. The bank will request a legible copy of the transaction authorization proof.
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It might not be a very modest thing to say, but I am a bit of a low budget travels expert. Or at least that’s what my friends made me believe, as on a regular basis I get approached by them (or their friends) asking me to find them a cheap ticket to XYZ. They all seem to be in awe of my ‘skills’ and convinced that I know some extraordinary secrets that allow me to travel abroad for next to nothing, when in fact all I do is…use the internet. In the past you had to go to a travel agent, who charged a middle-man’s %. Now, all you need is a computer with the net.
That’s right, a weekend in London or Paris (assuming you live in the EU) for a total of €10 is possible. How? Take a look at a few main rules.
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Recurring payments, known also as recurring billings or subscriptions, is a mechanism that processes payments for all kinds of repetitive transactions. This payment method allows e-businesses to collect money from customers’ card, bank account or PayPal account. Once the client agrees, payment is initiated regularly at set time intervals.