Understanding Subscription Billing
Subscription Billing is a recurring payment model where a fixed fee is charged at regular intervals (e.g., monthly) based on the selected subscription plan. This model is suitable for businesses seeking predictable billing cycles and continuous access to premium features.
Key Features:
Predictable Costs: Fixed monthly fees aid in budgeting.
Continuous Access: Uninterrupted access to subscribed services.
Tiered Plans: Various subscription tiers cater to different business needs.
Subscription Billing Process
Subscription Activation:
You select a RentalTide subscription plan and authorize the recurring billing.
Payout Alignment:
Subscription fees are synchronized with your next scheduled payout cycle.
Recurring Deductions:
At the start of each billing cycle (e.g., monthly), the subscription fee is automatically deducted from your account during your next payout.
Subscription Management:
You can upgrade, downgrade, or cancel your subscription at any time, with changes reflecting in subsequent billing cycles.
Subscription Fees Explained
Structure: Fixed monthly fee based on the selected subscription plan.
Example:
Subscription Plan: Premium
Monthly Fee: $50
Process:
On the next payout date, RentalTide deducts $50 from your account balance.
This deduction ensures your Premium subscription remains active for the following month.
Subscription Billing Example
Scenario: You subscribe to RentalTide's Premium Plan with a monthly fee of $60.
Billing Process:
Subscription Activation: You select the Premium Plan and authorize the subscription.
Payout Alignment: Your next payout is scheduled on the 15th of each month.
Fee Deduction: On your next payout date, RentalTide deducts $60 from your account balance.
Service Continuation: Your Premium subscription remains active for the following month.