Enty's Business Glossary:

Recurring Payment

Recurring payment (also known as recurring billing) is when a company automatically processes payments from customers on a prearranged conditions. Usually, this model is used for subscription services paying and it happens weekly, monthly, or annually. A service provider needs a customer’s initial permission to use their bank card data periodically to process payments on an ongoing basis. No further permission is required but a customer can cancel this model anytime.

Recurring Payment

Recurring payment (also known as recurring billing) is when a company automatically processes payments from customers on a prearranged conditions. Usually, this model is used for subscription services paying and it happens weekly, monthly, or annually. A service provider needs a customer’s initial permission to use their bank card data periodically to process payments on an ongoing basis. No further permission is required but a customer can cancel this model anytime.