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additional cases
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Supporting omnichannel cases
Recurring Payments service is an additional convenience for clients if they have many periodic payments. A client may set a periodic payment once and then just keep receiving periodical notifications for the transactions, which are performed by the bank automatically. It is comfortable and ties the client closely to the bank.
Basic solution Recurring Payments supports three types of periodic payments:
- Scheduled payments are executed once per period for a fixed sum.
- Event payments are executed upon the occurrence of a certain event for a fixed sum. For example, it can be a payment for mobile service when reaching a minimum threshold balance.
- Payment for debts are executed when the system founds customer’s debts, if the amount of payment does not exceed the limit specified by the customer.
Besides the three basic periodic payments, a bank may offer to clients additional services related to recurring payments within the solution scope. The detailed description of every type of periodic payments and specification are available upon request.
Implementing the recurrent payment service in a bank is normally an effort-demanding task, as it always requires integration with many banking systems. These are the service channels, where clients will subscribe to auto payments; the recurrent payments templates storage; the system responsible for making payments; the gateways to service providers or payment aggregators.
Recurring Payments uses standard Payments Hub services and payment mechanisms. Payments Hub solution is already integrated with the service channels via the standard protocols (eKassir V3). The solution includes built-in template service, tools for implementing the gateways to any service providers, user-friendly interfaces for easier customization and so on.
The banks usually offers service of recurring payments via remote system: mobile and internet banking. It would be perfect if the service will be available in other service channels. For example, the client may set up a recurring payment via ATM or with the support of a consultant in the branch. It’s a comfortable opportunity for clients who prefer offline service channel and will not use the service recurring payments in another way.
Recurring Payments is designed as a multichannel solution and integrates easily with any service channel, not only with remote banking systems. If the bank uses front-end eKassir solutions, the full range of features is available “off-the-shelf”. For the case when the bank uses any third-party app, Recurrent Payments offers the standard protocol for integration. As a result, a number of required modifications for front app is minimal. All basic business features are provided as the services of Payments Hub.
When implementing the recurring payments service, the reliability of its operation is important. If the payment is not executed or executed with errors, the client immediately loses any confidence to the service and ceases to use this functionality. Per our experience, the recurring payment service is implemented via the remote banking system or integration modules.
In the eKassir system, we use standard payment mechanisms via Payments Hub, which provides guaranteed delivery of payments, support transnationality, necessary checks, and alerts and so on. The reliability of the recurring payment service is an order of magnitude higher. It works out various non-standard situations more consistently.
In addition to these three types of recurring payments listed above, it is possible to implement some other cases. For example, the client makes a one-time payment for the service that is supposed to be periodically paid (cellular service, Internet, utility payments). However, he/she does not set up a recurring payment. After a certain period (for example, a month), the system sends a reminder -a proposal to repeat this payment. Further, the client can choose either to repeat the payment, save the template and create recurring payment, or, alternatively to disable any further reminders for this payment. This case does not irritate clients and can increase the audience of recurring payments users by almost 10 times.
In the described case, the implicit subscription to a periodic payment was automatically set up. It works in the same way as the scheduled payments, and after a certain time the client receives a reminder to repeat this payment.
The recurring payments service is the most demanded remote banking systems: mobile and Internet banking. In our opinion, the auto payments service should be available for the bank’s clients everywhere.
After its implementation, Recurring Payments is equally easy integrates with all customer service channels. If the bank uses eKassir frontal software (ATMs, terminals, cash desks, mobile and Internet banking), then the service is available as an “out of the box” solution. If the bank uses third-party frontal applications, we can provide a standardized protocol for integration. As a result, minimal rework is required for the fronts, and the omnichannel cases can be easily implemented.
