A recurring transaction is a transaction charged to the cardholder, when you have given your credit or debit card details to a merchant with prior permission, and authorise a series of payments to be taken from your account. Payments can be for regular or irregular amounts and frequencies and do not require the customer to provide any further consent at the time of authorisation. Examples of recurring transactions could include a gym membership or a magazine subscription.
There is not necessarily any chip and pin or credit card machines involved in a recurring transaction. As the payment occurs multiple times, the cardholder will have given their card details to the merchant in order for payment processing to occur every month or week, or any time interval.
A recurring transaction is different to a direct debit and requires a different cancellation process. A recurring visa transaction, however, incurs the same kinds of card payment processing to debit and credit card.
Payment Processing Services by NOIRE PAY
NOIRE PAY & NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE PAY’s, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE PAY to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE PAY.
Join NOIRE PAY today or contact us on +44 (0) 203 283 4585 of more information.