Recurring payments
Up to 30 percent of total consumer spending is on regular and recurring payments, from mobile phone bills and cable TV subscriptions to insurance premiums and utility payments.Accepting these payments by Visa could not be simpler. All you need ask from your customers is their Visa card number. Then, once the order has been set up and the first payment approved, you’ll continue to receive regular payments until your customer cancels their subscription.
Using Visa for regular payments is also easy for your customers. They do not need to write and post cheques or to complete forms, as with direct debit. And they do not need to worry about due dates or missed payments.
How Visa can help?
As a merchant accepting regular Visa payments, you and your acquiring bank can help prevent non-approvals and chargebacks with Visa’s Account Updater and Stop service.The service lets you validate the card details you hold on file for regular payments against our most up-to-date information on changed card numbers, expiry dates, cancelled orders and so on.
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