Payment management is term encompassing all of the processes associated with a recurring payment’s lifecycle form the moment when a recurring subscription is established and until either the agreement expires or the account is sent to a credit bureau.
The phases of the recurring payment’s lifecycle are: initial setup (through web subscription or paper/paperless agreement), recurring payment processing, payment recycling (on declines), automated payment recovery (decline notifications, credit card account updater), internal collections, 3rd party collections, credit bureau reporting.
UniPay is a complete payment management solution, unique in its kind because it deals with each aspect of the recurring payments lifecycle. It is designed to support each of the abovementioned phases in the most natural and transparent way for your business. Rich in recurring billing functionality, UniPay gateway also provides paperless agreement management features, as well as an array of highly specialized functionality used in automated and manual collections processes.