Understanding Payment Processing
Online payment processing allows you to streamline your collection process and manage all of your transaction data and billing infrastructure within Regpack. Here’s a guide to help you understand how it works and make the most of this feature.
How Payment Processing Works
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User Registration and Payment:
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Users register and make payments directly through Regpack.
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Payments are automatically recorded in the user’s account for seamless tracking.
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24-Hour Payment Delay:
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There is a 24-hour delay between the time a user initiates a payment and when they are charged.
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During this window, admins have two options:
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Cancel the Payment: Avoid incurring processing fees by canceling during the delay.
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Capture the Payment: Push the payment through immediately if necessary.
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Funds Transfer:
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After processing, funds are deposited into your merchant account.
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Processing fees are automatically deducted, and the remaining funds are transferred to your bank account.
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The frequency of these transfers depends on the setup of your merchant account.
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Managing Payments in Regpack
Regpack provides several tools to manage payments effectively:
- View Snapshots: Easily view your weekly, monthly, and annual revenue.
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Charge Users: Easily charge users for their selected products or services.
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Issue Refunds: Process refunds directly within the system.
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Track Payment History: View a complete log of all payment attempts and statuses.
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Automated Billing: Set up schedules for automatic billing to save time.
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Filter and Report: Generate detailed reports on payments for better insights and management.
Tips for Maximizing Payment Processing
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Offset Processing Fees: Consider charging a service fee to your users to cover processing costs.
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Offer Layered Payment Schedules: Ensure that your users have maximum flexibility by offering multiple autobill plans OR by allowing plans to be stacked by making a plan per product.
Need Help?
For assistance with payment processing or merchant account setup, our support team is ready to help. Contact us at support@regpacks.com with your project name, ID, and a description of your request.