Monthy Payment Option

[hawk200282]

I know this has been posted before, but there has not been anything mentioned on this in quite some time.

At one point I know Resellers Panel was talking about allowing us to bill our customers monthly. Is there any update on this or are you not even looking at this option anymore?

Thanks

[yav0r]

We are not currently working on that project at the moment.

[clivejo]

I know this has been posted before, but there has not been anything mentioned on this in quite some time.

At one point I know Resellers Panel was talking about allowing us to bill our customers monthly. Is there any update on this or are you not even looking at this option anymore?

Thanks

Id just like to explain why monthly billing is not a good idea in this situation. Basically, very time you process a credit card transaction there is a fee associated with it. For example 20p + 1.5%, lets say a plan is £4 per month, the cost just to process the transaction is 26p, times that by 12 is £3.12 just for the option of paying monthly. Not to mention all the chasing you have to do for failed payments it just isnt worth the hassle.

[clivejo]

On another note, have ResellersPanel ever looked into the Direct Debit system in the UK? It seems to be a very cost effective method of transferring money.

Maybe another reseller is using it to collect payment? Could you start another thread to discuss it?

[vlasi47gr]

Another way for RSP to save money on billing costs would be to allow account renewals for more than one year at a time. Currently the drop-down menu only allows for a 12 month renewal. Today I renewed one of my client for two years and had to do two transactions to do so. Two transactions means twice the cost for RSP.

I know that the monthly billing issue has been beat to death but offering monthly billing at a higher price option would negate the cost issue. I can't accept cost as a reason not to do so. Also offering monthly billing at a higher cost than an annual billing gives clients an incentive to go with annual billing. As an example starter package monthly billing $7.50 a month, annual billing $66 a saving of $24. I think most would go with the annual billing to save the money. The difference, of course, would pay for the additional costs of monthly billing if the client would decide to do that.

Although I have never had monthly billing as an issue I can understand that some may have an issue with the lack of it. Of course they have said they will not have monthly billing but you never know, sometimes they do change their mind.

[clivejo]

Could also be a currency issue too. I know RSP are based in the UK, but fix the prices in dollars ($). It tends to cause me issues as I'm in Northern Ireland and work in Euro and Sterling, and to be honest the exchange rate offered by RSP isnt that great !! But I guess they also have to cover all costs and rising/falling currency can be costly.

I think there are a lot of factors in play and I believe RSP have probably done their homework regarding this. The amount of back office time and resources to deal with monthly payments must be considerable as well. Suspending accounts for non-payment, chasing payments and updating clients accounts.

[vlasi47gr]

You could be correct. Transaction costs alone may not be the only issue. Of course by transaction costs I mean the charge that the credit card companies, PayPal, banks and others that impose fees on the payment of money. I am not including any "back office" costs in that term.