Set up recurring payments
Recurring in-system payments can be implemented using the Subscriptions functionality.
Subscriptions are a way for people or businesses to regularly pay for a service or product. In SDK.finance we have pre-implemented functionality to cover the subscriptions flow.
Subscriptions have different settings like:
the period of time between payments
how many payments need to be made
and when the subscription ends.
Subscriptions can have different statuses:
• Active
• Stopped
• Processed
• Canceled
The expiration type of a subscription determines how the subscription will end. It can end by a certain date, a certain amount of payments made, or there can be no constraints on how long the subscription lasts.
There are also different recurring types for subscriptions:
• Daily
• Weekly
• Monthly
• annually
Subscriptions can also have a certain amount of payments that need to be made or a certain number of successful payments before it ends.
Periods are related to subscriptions because they store the next execution date for a subscription.
Depending on the status of the subscription a period can be:
• Scheduled
• Failed
• Stopped
• Processed
• Canceled
There’s a list of APIs to be used to create, retrieve, update, and delete subscriptions. Permissions can be added to APIs for subscription owners, managers, and viewers.