Recurring billing is a process when a merchant charges a customer’s account at regular time intervals for purchases of goods and services. Enabling recurring payment processing offers benefits to both merchants and consumers. By enabling customers to use the recurring shipment option, they can rely on an automatic renewal of consumable merchandise or subscription services. Merchants can increase customer satisfaction by offering the convenience of automatic delivery, without the need for customers to place additional orders. In this way, merchants can also take advantage of a guaranteed steady source of revenue with subscription and recurring payments. For instance, regularly scheduled payment of a consumer debt, such as an installment loan, an insurance premium which is payable monthly.
Steps for adding recurring products in NopCommerce
- From the Catalog menu, select Products > Manage Products. The Manage Products window is displayed.
- Click Add New. The Add a new product window is displayed, showing the Product Info tab, as follows:
- Select the Recurring product checkbox to define this product as a recurring product. The following fields are displayed:
- Cycle Length: Enter the cycle length.
- Cycle Period: Select the cycle period of the recurring product:
Total cycles: Enter the total number of the recurring product cycles.
For any product, you can define a recurring cycle to enable the system to automatically create orders that repeat when a customer purchases such products. For example, if a customer buys a product, which has a monthly recurring, cycle, then when paying for the order the system will create a new recurring order with the recurring products. The system will use the payment details from the initial order for subsequent recurring orders. In addition, the original shipping charges will apply to subsequent orders. Note that at least one of the active payment modules should support recurring payments.
In payment process, not all payment methods support recurring products. Currently, only the Authorize.NET, manual credit card and PayPal Direct support it.
The admin can see recurring product payment report in Sales->Recurring Payment ->Manage Recurring Payment.
What does it cost?
$30 per month in addition to the regular Virtual Terminal or Website Payments Pro monthly fees.