Billing vs Tokens: Choosing the Right Solution
When deciding between Billing and Tokens for managing recurring payments, it's essential to understand the key distinctions:
Billing:
● Utilize the Grow system for end-to-end management of payments.
● Create a new recurring payment specifying the sum, charge day, and number of charges.
● Editing or canceling recurring payments is done through the Edit Direct Debit. feature.
● Intended for continuous payments like monthly fees.
● Recurring payments are processed once a month.
● Receive webhooks for each payment or recurring payment failure.
Tokens:
● Manage payments independently within your system.
● Use saved tokens to generate payments autonomously.
● Ideal if you have an existing system for billing management, including monthly charges and refunds.
Choosing Between Billing and Tokens:
● Use Tokens if you already have a system in place for billing management, including monthly charges and refunds.
● Opt for Billing if you lack a system for billing management and need a comprehensive solution for handling recurring payments.
Understanding your existing infrastructure and requirements will guide you towards selecting the most suitable solution for your recurring payment needs.