WorldPay has implemented FuturePay, an online version of repeat billing similar to direct debit or standing order. This provides an internet based solution where repeat payments are taken periodically by credit or debit card. This is ideal for subscriptions to web sites, online magazines, hosting services ... in fact, any application where payments are taken by installments.
Payments can be fixed or variable and can be taken at scheduled intervals such as weekly, monthly or quarterly. All repeat billing payments are processed automatically through the Internet Merchant Account. Both the retailer and the shopper are sent receipts each time a repeat payment is automatically taken. The retailer and the shopper / member / advertiser are both free to cancel a scheduled transaction at any time.
Setting up FuturePay transactions can be as simple as changing a few lines of HTML code on your usual payment pages. With more website programming, you could fully automate your website, your online advertising and/or membership systems.
FuturePay is available as an optional extra to the standard Internet Merchant Account for a one time set up fee of £100.00 (£117.50 inc VAT). Transaction fees and settlement terms are the same as for your WorldPay Internet Merchant Account. All transactions processed through your WorldAccess Virtual Terminal will be shown in your Customer Management System together with other transactions from your web site.
To apply for FuturePay repeat billing, select FuturePay during your application for the WorldPay Internet Merchant Account.
If you would like more information, please feel free to contact us.