Table of contents
- What are recurring payments?
- Who should use recurring payments?
- What is the frequency?
- How do you enable it?
- Can recurring payments be edited or canceled?
- Are there any additional fees?
- Is there a minimum or maximum amount that can be paid?
- Does it work for credit cards?
- What happens if the payment fails?
What are Recurring Payments?
The recurring payment feature allows for automatic payment collections, of a fixed amount, to be charged to a customer’s credit card, once a month, for a pre-defined period.
Step 1: The collector (i.e. a business) pre-defines the payment amount, the monthly due date, and the frequency (up to 24 months) and sends a payment request (a URL) to their customers.
Step 2: The customer approves the request by entering their credit card details (one time).
Step 3: CardUp will charge the customer’s credit card automatically every month and transfer the amount to the collector’s bank account on the due date.
CardUp will also send the customer an email payment reminder, three days before the due date.
Who should use Recurring Payments?
This feature is well suited to companies who charge their customers fixed monthly management fees, for example, property management, accounting firms, marketing agencies , and more.
What is the frequency of Recurring Payments?
Once per month on a pre-selected date of the collector’s choosing (e.g. the 3rd of the month), up to a maximum of 24 monthly payments (I.e 2 years).
If the due date falls on a weekend or public holiday, the amount will be charged on the previous business day.
If a business needs to collect payments more frequently, for example twice a month, then multiple payment requests need to be created. For example:-
- payment request #1 can be scheduled to collect $150 on the 1st of every month.
- Payment request #2 can be scheduled to collect $150 on the 15th of every month.
How do you enable Recurring Payments?
To turn on Recurring Payments on your Payment Request, please click here.
Is there an additional fee for Recurring Payments?
No, there are no additional fees for scheduling a recurring payment.
However, the usual CardUp processing fee applies, learn more here.
Can Recurring Payments be edited or cancelled?
Yes, either the collector (the business) or the payor (their customers) can cancel the Recurring Payment at any time. The payor (the customer) can also edit the credit card details at any time.
How to cancel a recurring payment as a collector
As a collector, to cancel recurring payment requests,
1. Please log in to your CardUp dashboard: https://app.cardup.co/business/sign_in
2. And click “Collect”. Then, find the specific payment request, click on “...”
3. Then “Delete Request”. Once the request is canceled, your customer will be notified via email.
How to cancel a recurring payment as a customer
To cancel a recurring payment request, please go to:-
1. the email you received when you first set up this payment and click on the URL.
2. This will allow you to log into your guest account. Click on “View charge schedule”
Select which payment(s) you would like to cancel. Once the payment is canceled, your collector will be notified via email.
What happens if the payment fails?
If the customer’s credit card cannot be charged for any reason (e.g. the credit card has expired, the credit limit is not sufficient etc), then both collector and customer will be notified via email.
The customer will then need to click the link provided in the notification email, log in to the guest account and update their credit card information on record. This will reconfirm the payment.
Is there a minimum or maximum amount that can be collected via the Recurring Payment feature?
There is no minimum or maximum amount that can be collected. However, there is a limit of 24 payment collections (i.e.24 months (up to 2 years))in a single payment request.
Does it work for credit cards and PayNow?
Currently, we only accept credit cards as payment method for recurring payment requests.
If you need further information or support, please contact firstname.lastname@example.org