How recurring invoicing will benefit your business

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Recurring invoicing can bring tremendous benefits to any business and can streamline procedures to the point where business owners and employees can put their focus elsewhere.

Today, more than ever before, there are numerous solutions developed to allow this functionality, and we are going to explore everything businesses need to do to leverage these benefits. But first, let’s find out what recurring invoicing is and how it works.

Author: Milko TV

Key Points:

What is recurring invoicing?

If you are curious about what is a crypto recurring invoice, here is everything you need to know.

Recurring invoicing is a billing service that is aimed at enabling any business owner the ability to automatically send an invoice to their customers via email.

By putting a tool like automated recurring payments to work, business owners can charge or pay their customers every time as much as they want to whilst also automating their payment flow management.

NOWPayments is a crypto payment gateway that features a recurring invoicing tool, enabling anyone to set up a crypto subscription with various tariffication plans, all of which are automatic. The process of establishing recurring invoicing has never been easier.

All business owners have to do is essentially set up subscription groups and tariffication plans, which will automatically execute later.

Recurring invoicing is accessed via an efficient API tool. Moreover, merchants can withdraw their income in euros.

This can lead to an expanded customer base, as new customers will feel a lot more comfortable utilizing these products or services.

All you need to do to enable automatic recurring billings is to add users, upload them through a CSV format, and specify the payment information, after which you can generate an invoice by picking the cryptocurrency they want to use. You can set up a tariffication plan, and the email with the payment invoice can send customers the preferred plan.

How does recurring invoicing benefit your business?

There are numerous ways through which recurring invoicing can benefit any business.

Subscription model businesses

Most businesses with a business model that involves a subscription will need regular payments from their customers. As such, this feature from NOWPayments will enable these businesses to automatically send recurring invoices to their customers through email.

Improved funds flow

The recurring invoices can contribute to a much steadier stream of monthly income and improve cash flow from month to month so that there can always be enough money to cover expenses and business costs.

Speed up payments

By sending invoices in recurring intervals, business owners are encouraging clients to lock within a similar payment routine, and this will also allow them to make quick and convenient payments.

Reduce time spent chasing payments

Any business that has implemented a recurring payments system has the benefit of not having to remember to request a payment and, as a result, avoid losing funds. Their clients, subsequently, won’t have to pay additional late payment fees.

Automating the payment process

By leveraging software solutions, business owners can easily integrate these types of payments and have peace of mind knowing that software is doing all of the hard work and is not subject to human error. This means that you can enable monthly invoice automation.

More time to focus on other areas

Businesses can begin to accept recurring payments within the span of just a few clicks. The NOWPayments API tool can enable all of this by doing all of the hard work for merchants, where setting up a subscription is a streamlined process. This means that business owners and other employees will have more time to put their focus on more important business processes.

How to set up recurring invoices?

NOWPayments can provide businesses with access to recurring invoice tools that will aid them in the management of the financial flow of their accounts.

Here is everything each business needs to do, step-by-step:

Hooray! Now, the email with the payment invoice will be sent to your customer with your preferred tariffication plan.

Check out all the available methods for Recurring Invoicing API:

curl --location --request POST 'https://api.nowpayments.io/v1/subscriptions' \
--header 'x-api-key: <enter_your_api_key>' \
--data-raw '{
"subscription_plan_id": 76215585,
"email": "test@gmail.com"
}'

Once all of the integration steps have been completed, the email with the payment invoice will get sent to customers with the preferred tariffication plan.

Conclusion

We have gone over just about everything you need to know when setting up recurring invoicing and enabling an automatic recurring payment to all of your clients and how it can aid your business and your business processes.

By using NOWPayments, you can enable automatic recurring invoicing for your business and can do so with over 150 cryptocurrencies and with some of the lowest fees in the industry.

You will also be able to access a personal account manager and gain support 24/7, so if you run into any issue or experience a hiccup, there will always be assistance. Make sure you leverage automation opportunities to bring your business to the next level.

Try recurring crypto payments NOW

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