Subscriptions automate payments on a mandate.
Subscriptions create payments according to a schedule. This means that a few conditions are applied:
- Subscriptions require a fixed amount. If you want to collect variable amounts, you should instead create independent mandates and manually create payments according to your own billing system.
- Subscriptions require a regular recurrence interval. LotusPay will use this interval to determine the most appropriate frequency for the mandate. If you want to collect amounts at irregular intervals, you should instead create independent mandates and manually create payments according to your own billing system.
- Subscriptions require a count, if not until cancelled. The count is the number of payments that you want to take. LotusPay will use this count to determine the appropriate final collection date for the mandate. This will be set as three working days after the subscription's last scheduled payment (this is done to allow for failed payments to be retried). If the subscription is set to 'Until cancelled', the mandate will also be set to 'Until cancelled'.
LotusPay uses these parameters to automate your payment collection according to the pre-determined amount, schedule and duration.