The subscription or recurring billing model seems to be taking over the world these days. Not just for daycares and health clubs, it has made its way into all types of enterprises, including online gaming providers like yours. 

But before you run to adopt one of the hottest payment trends in igaming, it makes sense to learn about recurring billing, and to assess what advantages it could bring to your company and its customers.

Recurring billing defined.

When you set up recurring billing, you are putting a business arrangement into motion. Simply agree upon the bank account or credit card, the amount to be withdrawn, the frequency at which money will be transferred, the date each week or month when it will happen, and when the agreement will end. 

This might be after a specified number of months, on a certain date, or open-ended. Once everyone understands the complete terms of the agreement and signs it, both parties can look forward to predictability, minimal service interruptions and a reduction in late payments.

How recurring billing can maximize efficiency and client satisfaction.

Currently, you might be spending more time than you would like chasing delinquent invoices. Depriving members of their access to their gaming accounts is not always enough of a disincentive to prohibit long delays in resolving a bill.

Recurring payments take a great deal of the legwork and guesswork out of the invoice process. Since account details and transfer specifics have been agreed upon in advance, the likelihood of late or nonexistent payments is reduced. Better still, you can continue to build a stronger relationship with customers by means of the regular communications that you send. 

Going far beyond invoices, transfer confirmations and canned thank yous, your messages can bring clients into the inside circle by giving them early entry to sales and other promotions, or granting them higher tiers of access in recognition of their brand loyalty.

Recurring billing: client benefits.

No one likes to be hounded for money. And in the online gaming business where discretion is important, this is especially true. 

Once the specific arrangements are agreed upon with recurring billing, your customer does not need to do much thinking at all about the process. Their funds simply are withdrawn as specified, quickly and painlessly.

What’s more, initiating a recurring billing relationship opens the door to valuable communications. 

Clients are often pleased and gratified when they receive personalized messages from the head of the company thanking them for their patronage, and encouraging more participation with appealing incentives.

Recurring billing: business owner benefits.

The same predictability that clients love when they sign up for recurring billing is also an upside for you. Instead of chasing payments, you know in advance how much is coming in, from whom, and on which day of the month. 

Think about how much this information could help to revolutionize your budgeting and forecasting!

Of course, nothing is completely set-and-forget. You must remain on top of customer accounts, including their expiration dates. Should a payment fail to arrive due to account closure or card expiration, you need to have tools on board to address the situation, first via automated systems and then, if necessary, in person.

With the predictable funds in hand as expected, however, you have everything you need to upscale your gaming business. Perhaps you might choose to expand your offerings or raise your prize levels. Alternatively, you might want to launch a mobile app or upgrade the tired one you already have.

In short, recurring billing gives your gaming business yet another choice that you can offer to customers. In an industry where so many aspects are highly regulated, isn’t it nice to be in more control of the funds that come into your coffers?

When you want to attract new players into your casino or sports betting operation, many will respond if you can demonstrate that your focus is on providing first-class client support at every point of their relationship – with you and your website. 

Furnishing the option of recurring billing tells clients that you are willing to go the extra mile to streamline their payment journey, while making it your mission to enrich their overall experience with and connection to your brand. 

In short, integrating recurring billing into your payment processing for online gaming infrastructure can turn both you and your clients into big winners.