Automatic Payment Manager
(APM) lets you charge your customers by credit card or electronic
check (ACH), billing them automatically on a weekly, bi-weekly, or
monthly basis. Recurring payments are a growing part of the
economy. They allow periodic billing to occur that is easy for
merchants to administer as well as convenient for their
customers. Once you obtain an authorization from your customer
you are set to bill them automatically
Growth
Opportunity
- Independent studies have found that
recurring payments grew from $540 billion in 1997 to $820 billion
in 2000, with 69% of consumers paying through at least one
automatic payment program.
- Visa USA estimates growth of such
payments to more than $1.1 trillion by 2005.
- Will your customers want automatic
payments? A study showed that fully one third of consumers
under age 44 are open to recurring payments.
Key Benefits for
Merchants
- Save on invoice processing costs,
postage, envelopes, etc...
- No waiting for "checks in the
mail"
- More predictable cash flow
- Save on labor costs
- Sensitive payment data stored on
secure system
- Reduced risk of human
error
Key Benefits for
Customers
- No worrying about paying a bill on
time
- Hassle free payment - no writing
checks or posting stamps
- Decreased chance of late
fees
Benefit from this trend and save your
staff time while expediting collection of your
receivables.
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