Biz Core’s Online Payment Processing Solution

Typically, funds are usually available within 1-2 business days of the payment being made. The processing time will depend on the issuing bank.

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.

You need a payment gateway and processor to securely verify, authorise, and transfer funds from a customer’s bank account to your merchant bank account.

An online payment gateway works like an in-person POS system but it uses cloud-based software to process digital payments. The sensitive card information travels along an encrypted payment processor between the merchant bank account and the customer bank account in order to:

When you set up a payment plan you agree to make periodic repayments on set dates until you have paid off the amount owed. You could also set a payment plan up to continue taking payments indefinitely, which is useful for recurring payments like gym memberships, childcare, and rent.

How do you handle subscription payments?

Having an all-in-one payment processor and member management system is the best way to handle subscription payments. With the right system, like Biz Core, you’ll be able to:

Contact us today to find out how Biz Core can help you handle subscriptions payments and keep your business running smoothly.

Though this process only takes a matter of seconds to complete, credit card processing actually consists of multiple factors.

Credit card processing follows the following process:

1. Customer pays for their goods or services by credit or debit card.
2. Payment information is sent to the credit card processor who communicates with the issuing bank via their card networks (such as Visa, Mastercard, American Express etc.)
3. The bank will assess whether the cardholder has sufficient funds or credit to complete the transaction, and may also check for any fraudulent activity. The bank will then respond with whether the credit or debit card has been approved or denied.
4. Approval or denial is sent to the payment processor who will communicate this information back to the merchant.
5. The payment is then settled. This occurs when a batch of approved transactions for that day is processed (usually at the close of business) and a customer’s account is charged. The money is then deposited into the merchant's account.

Once the repayment amount and the repayment schedule is agreed upon by you and your customer, the customer will be charged automatically via direct debit or their payment card.

The time a credit card payment takes to process will depend on the issuing bank. Generally, the processing time is within 1-2 business days. However, it is important to consult with your bank to determine your credit card payment processing time.

There are a wide range of recurring payments that businesses use, common examples include:

Payment automation provides a lot of benefits to your business. Some of the key pros of a direct debit automated payment system include:

Generally, online payment processing consists of 5 steps:

1. Customers complete the online check out process, entering their credit card or debit card information into the payments system.
2. The credit or debit card information is transferred to the payment gateway, then to the payment processor.
3. The payment processor transfers the transaction information to the card network and verifies the customer’s credit or debit card details.
4. The credit card network then requests authorisation to release funds from the issuing bank. The bank will provide a response back to the credit card network.
5. The credit card network sends this response back to the payment processor, who will request that the issuing bank transfer the funds. The funds are transferred to the merchant account, and then to the business’s bank account.

Biz Core’s payment processing platform does all the work for you so you can focus on more important things like growing your business and securing more memberships.

Contact the Biz Core team today for a live demo!

Card issuers may charge various fees associated with card accounts. These fees can vary among different card issuers and may include the following:

However, fees can vary based on the card issuer, the type of 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.

A membership payment system combines the ability to process payments and manage customer information simultaneously. Payments are often made by credit card, debit card or direct debit, and are often recurring at scheduled intervals. A membership payment system can also accommodate once-off payments.

Payment plans allow you to pay off a lump sum of money in instalments over time, rather than all at once. Payment plans can also be used for recurring payments like subscriptions or memberships.

A processing fee is a charge imposed by a financial institution, payment service provider, or merchant services provider for processing a transaction or providing payment-related services. This fee is applied to cover the costs associated with facilitating the transaction and maintaining the infrastructure required for payment processing. The processing fee amount can vary based on several factors, including the type of transaction, payment method, provider policies, and the nature of the service offered.

Payment gateways and processors allow you to offer a secure online payment environment for your customers. They act as the middleman between you, the customer, and the participating banks in order to process payments. Using a payment gateway helps protect you from data breaches, fraudulent activity, and chargebacks. And it allows you to offer an easy payment solution to your customers.

Deciding on the best credit card processor for your subscription based business will depend on your individual circumstances. But here are some questions to consider:

Contact Biz Core today to find out how we can help manage payment options for all your subscriptions.

When you are choosing a payment gateway for your business look for the following features:

Recurring payments can fail for various reasons, including:

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.

Instalment payments make it easier to manage your finances without sacrificing a large sum of money all at once. They can help you maintain a budget, keep monthly expenses low, and make products and services more affordable.

Yes, in many cases, you can use a debit card to make payments as if it were a credit card. Debit cards typically have a Visa or Mastercard logo, allowing them to be processed as credit cards in situations where credit card payments are accepted.

Whether using cards or direct debit, Biz Core makes payment processing for schools and their families easy. Contact us today for more information and a free live demo.

Recurring payment software, such as Biz Core, can help you take recurring payments online. The process usually includes:

1. 1. The customer elects to pay via recurring payments.
   2. They will then agree to the terms and conditions, the payment amount, the payment schedule and the end date.
   3. The customer will provide their payment information and consent for the business to securely store this information.
   4. Recurring payments will take place with the recurring payment software managing the transaction.
   5. Lastly, your customer will receive an invoice listing the payment details. You may also choose to send them a notification or reminder alerting them to the next date of payment.

Request a demo with our Biz Core experts today to see how we can save you time and help you forecast income.