LotusPay offers multiple ways to create payment requests. You can select the option that suits your particular needs.
After you've reviewed mandate creation options, you'll need to consider the transaction process.
To charge a customer, you'll first need an active mandate.
- Payments: If you're using our payment processing services, we call the transaction a Payment. LotusPay receives your funds and forwards them to you. All Standard Plan merchants are required to use this option. Pro Plan merchants can opt in too.
- ACH Debits: If you're receiving direct credit of your funds, we call this transaction an ACH Debit. This option is available to Pro Plan merchants.
Payment creation options:
- Dashboard form: To create one payment at a time. (Standard Plan and Pro Plan merchants).
- Import: To create payments in bulk. (Standard Plan and Pro Plan Merchants).
- API: To create payments via a technical integration. (Pro Plan merchants).
Payment creation methods:
- Ad hoc payment: When wanting to charge a specific customer one payment on a certain date. This is done by creating a payment on a mandate.
- Subscription: When charging a schedule of recurring payments with the same parameters to a specific customer e.g. a regular monthly amount. This is done by creating a subscription on a mandate. This requires a known frequency, period and amount.
- Plan: When wanting to either assign or enable multiple customers to sign up to the same payment. This is done by adding/inviting customers to join a plan, which creates a mandate and (if required) a subscription