What are Payment Schedules?
Direct Debit payments may be single, once-off payments but more typically they are grouped together so that a series, or schedule, of payments can be set up in one go.
For example, a yearly magazine subscription could be easily set up so that Direct Debit collections of €5 are taken each month so that €60 is collected in total over the course of a single year (12 x €5).
Nuapay provides two payment schedule options:
- Fixed Length
In the Fixed Length model you can specify the amount to collect, the frequency and the number of payments to be collected.
With an Open-Ended schedule the amount and the frequency is specified however there is no set number of payments and collections will continue to be made indefinitely.