Recurring Payment
What is a Recurring Payment?
A recurring payment is a payment that is automatically charged at regular intervals according to an agreed billing schedule. Recurring payments are commonly used for subscriptions, memberships, ongoing services, and other business models where customers pay repeatedly rather than making a separate manual payment each time.
Why it matters
Recurring payments allow businesses to automate repeat billing and provide continuous access to paid services or functionality. In mobile apps, they can support subscription-based business models and reduce the need for users to manually complete the same payment every billing period. The specific implementation and payment requirements depend on the payment provider, platform, and type of product or service being sold.
Example
A business offers access to a paid digital service through a monthly subscription. After the customer signs up, the recurring payment is processed according to the billing schedule until the subscription is canceled or otherwise ends.
