Recurring Payments

Recurring payment is when merchants automatically charges customers for products or services on a consistent basis. It is more of a passive payments where merchants pull in money from the customer without any intervention.

Use Cases and types

1. Fixed amount and fixed cycle: Amount and the cycle of transaction is both fixed. The payments happen periodically. eg: SIP, Insurance premium, OTT subscriptions.
2. Fixed amount and variable cycle: The amount for the payment is fixed but periodicity is not. eg: Topping up the wallet with ₹1000 when the