What is Direct Debit?
What is Direct Debit? Since 2007, Australia has been steadily advancing towards becoming a cashless society, with more and more customers choosing ...
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Setting Up Direct Debit for Small Business
Setting Up Direct Debit for Small Business At Biz Core, setting up direct debit for small businesses has never been easier with our secure, cloud-b...
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Commissions
Get Money Back with Customer Commissions Get paid by simply being our customer! As a little kick back for our clients, Biz Core direct debit servic...
Read moreLoan management software FAQs
Are recurring payments automatic payments?
Automatic payments can encompass various types of transactions, including recurring payments, one-time payments, and instalment payments. However, recurring payments specifically refer to transactions that occur on a recurring basis, typically with a fixed amount charged at regular intervals until the customer cancels or modifies the arrangement.
Why do recurring payments fail?
Recurring payments can fail for various reasons, including:
Insufficient funds
Expired or invalid payment information
Payment gateway issues
Bank or card issuer restrictions
Account holds or restrictions
Billing address mismatch
Payment authorisation issues
Subscription cancellations or changes
System or software errors
Communication failures
To mitigate recurring payment failures, businesses should ensure that they have a comprehensive payment processing system in place, like Biz Core.
Contact us today for a free live demo and for more information on how we can help your business streamline your payment processes.
Can a debit card be used for recurring payments?
Yes, debit cards can be used for recurring payments. When you provide your debit card information for a recurring payment, the merchant or service provider will typically request authorisation from your bank to charge your card at regular intervals (e.g., monthly, quarterly, annually) for the specified amount.
Read more: Setting up direct debit for small business
Why is sports membership payment software important?
Sports clubs have a range of fees and costs that need effective management. From day-to-day payments to competitions to club fees and membership, there are a lot of payment structures that need to be accounted for. A sports club payment system is built to meet these unique needs and make payment processing and collection simple.
Read more: Why is a Sports Payments System Important?
What fees can be charged on a credit card account?
Credit card issuers may charge various fees associated with credit card accounts. These fees can vary among different card issuers and may include the following:
Annual fees
Interest charges
Penalty fees, such as late payment fees and overlimit fees
Transaction fees, including foreign transaction fees and cash advance fees
Miscellaneous fees, such as balance fees and returned payments fees balance
However, fees can vary based on the card issuer, the type of credit card, and the terms of the card agreement. So it’s important to check with your card issuer to confirm what fees you may be charged.