Automatic Bill Payment
Save time, money and hassle.
Receiving and making regular payments couldn’t be easier. By offering customers pre-authorized recurring payments on their Visa cards, you deliver a reliable, hassle-free way to pay regular bills owed to you. Count on being paid in full and on time.
Meets your business needs
- Timely payments help your cash flow management.
- Funds are readily available because Visa card payments are credited to your account almost immediately.
- Lower handling costs by automating the billing process.
- Reduce collection expenses for overdue amounts.
- The Visa Expiry Date Solution eliminates transactions declined due to expired Visa cards, so there is no need to update Visa expiry dates that are kept on file.
- Automatic Bill Payment is easy and helps save your customers time.
Meets your customers' needs
- They relax, knowing bills will be paid in full and on time.
- With missed payments, no late payment fees.
- They save money and the hassle of mailing cheques.
- They enjoy flexible payment options – weekly, monthly, quarterly or annually.
Best Practices for Visa Automatic Bill Payments
By following these guidelines, you’ll help ensure the smooth set-up, processing and cancellations of recurring payments.
- Allow the use of Visa cards for recurring billing cycles, not just one-time payments.
- Inform your customers about the Automatic Bill Payment with Visa cards option.
- Obtain valid authorization approval for all recurring Visa card transactions.
- Keep all relevant Visa card payment details needed to complete a transaction (cardholder name and account number) on file.
- Inform your financial institution or processor that your business accepts Automatic Bill Payments with Visa cards.
- Verify that on-file information and Visa account numbers are correct.
- Ensure that all recurring transactions are flagged with the "recurring payment" indicator in authorization messages. This is critical to activate the Expiry Date Solution.
- Put proper controls in place to protect account and transaction information, as per the Payment Card Industry Data Security Standard.
- To minimize chargebacks and transaction processing costs, submit transaction payment information to your financial institution or processor in a timely fashion.
For Customer Cancellations
- Provide customers with a toll-free number and use online procedures for cancellation.
- Process cancellation or non-renewal requests in a timely fashion.
- Notify customers of account closures.
- If a cancellation request is received too late to prevent a recurring charge from being posted, process a credit and notify the cardholder.
To learn more and take advantage of Visa Automatic Bill Payments, contact your Acquirer/Payment Processor.