Recurring Payments System (RPS)
Caledon Card Services’ Recurring Payment System (RPS) is a processing utility that provides merchants the ability to bill, manage and adjust their subscription or membership based payments. The RPS fully automates the recurring billing process improving predictable cash flow while virtually eliminating the liability of storing sensitive credit card data on file. Merchants are able to effectively bill their customers on a weekly, monthly, or yearly basis with little or no administrative intervention.
Features and Benefits to Merchants
- Improved Cash Flow – no need to remind customers of upcoming bill payments
- Reduced Administration Costs - RPS automatically charges the credit card on file each interval eliminating the time required to process transactions individually
- Reduced Errors – with a reduction of human input comes the increase of efficient and successfully processed payments
- Reduced Security Risks – all sensitive credit card data is stored on Caledon’s PCI compliant servers virtually eliminating the merchants liability of cardholder account compromise
- Improves Customer Loyalty – numerous studies show that customers are more willing to stay loyal to a merchant if billing and payments are easy and hassle free
Benefits to Cardholders
- Convenience of setting up account payments once
- Decreased chance of late fees or interruption of subscription/membership services
- Increased accumulation of reward program/frequent flyer points
Targeted Customers/Merchants
- Merchants who provide membership or subscription based services
- Merchants who want to offer their customers the option to pay over time
- Any business that wants to bill customers at regular intervals and accept payments on a recurring basis but do not want to store credit card data
- Examples include; health clubs, subscription publications, insurance companies, cable/internet/telecom providers, charities, property management/equipment rental services etc.