![]() There are two types applicable to healthcare: While healthcare doesn’t follow the popular subscription model, patients and providers can benefit from recurring payments. Businesses appreciate the consistent cash flow and the inherent loyalty established via recurring or subscription payments. On the other end, merchants love recurring transactions, too. ![]() ![]() As an added benefit, storing payment information on their favorite websites allows for fast checkout without entering tedious card data. It’s the same story with utilities, Netflix, and loans – set it once and forget about the hassles of making a monthly, timely payment.Ĭonsumers love the convenience of setting up recurring payment plans, which limit mailed bills and put an end to remembering account passwords. You just enter your payment information once and wait while your postal service worker does all the heavy lifting. You can get everything from clothing and makeup to dog treats and toys to fresh food delivered to your door on a consistent schedule – no shopping required. Just look at the boom in subscription-based products and services. are expected to reach $473 billion by 2021, according to research from the Mercator Advisory Group.Īnd this makes sense. In fact, recurring transactions processed on credit and debit cards in the U.S. ![]() Recurring payments are on the rise in most consumer verticals, healthcare included. ![]()
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