Compare Grow Billing and tokenization and choose the right way to manage recurring payments.
With Billing, Grow manages the full recurring payment journey, from payment schedule and charge amounts, sends updates, and handles failure notifications. Once the initial setup is complete, the Recurring Payment runs automatically on a recurring basis.
Tokenization gives businesses more control by allowing them to save a token and trigger each future charge separately, choosing when, how, and how often to charge.
The page helps clarify which solution fits each business need based on how payments are managed and the preferred workflow.
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.