MOLPay Recurring Payment is an automated charging/payment method for merchants and buyers to reduce the risk of making late payments. It uses a tokenization system to save credit card details and use them as such once the charging period is met.
Who will benefit from this?
It is a necessary solution for online businesses that have flexible payment schedule and those who want to improve their business decisions through a consistent cash flow.
What you will be benefit from this?
Reduces risk of late payments
Improves cash flow and business forecasting
Builds customer retention and loyalty
Automated payment schedules
How does MOLPay Recurring Payment works?
Buyer subscribes or pays for the first time and the card credentials will be tokenized.
Once the charging period is met, MOLPay will charge the buyer’s card and send a notification to both merchant and buyer upon successful or failure attempts.
The charging will repeat until the terms ended, or either the merchant or buyer sends in instruction to stop the automated payment.