Whether you are a subscription startup or a long-time legacy business, payments are the biggest area of confusion for any business, but especially for the recurring revenue business. In our members-only cheat sheet, we’ll show you the mechanics of payments, explain key terms, and highlight the key players involved from the time your customer submits a payment to your business to when that money arrives in your company’s bank account. Understanding how payments work is a key foundation to selecting the right vendors for your business and knowing what questions to ask when talking with them.
Our cheat sheet includes:
- Definitions
- Step One: The Order
- Step Two: Authorization Starts
- Step Three: Payment Processing
- Step Four: Payment Approved or Declined
- Step Five: Payment Approval Communicated
- Step Six: Fulfillment
- Step Seven: Money in Your Bank Account
Download our exclusive cheat sheet now to better understand the flow of payments from customer to bank deposit.