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.
You can find more details about Templates and Subscriptions here.