Overview
Recurring Payments allows you to create and execute future payments (at the moment only Credit ACH, Debit ACH, and Credit Book Payments are supported) according to defined patterns, so different use cases like subscriptions, savings, rent payments and many more are supported. When creating a Recurring Payment, you can set a schedule and control the start time and frequency of the creation of future payments (monthly or weekly intervals are supported).
As long as the Recurring Payment is in Active status, payments will keep being created and you should expect the standard flow according to the payment type (e.g. for insufficient funds a payment will be created and instantly rejected for InsufficientFunds and a payment.rejected event will be fired).
When an account containing recurrent payments schedule(s) is frozen or closed the schedule will not be deleted but the payments will be rejected upon creation, until the account is reopened/unfrozen. If the creation of a payment according to the Recurring Payments schedule fails, a Recurring Payment Failed webhook event will be fired.
Recurring Payment Schedule
The schedule will determine details about the patterns (frequency and execution time) of the future payments that are part of the Recurring Payments. The schedule in the response resource will include additional fields compared to the input fields that were passed by the user initially. In case the start time was not defined, the start time will be set to the current time. In case the end time was not set, the recurring payment will run until it is manually disabled. Recurring payments will be executed by the end of each day.
The execution day time may alter and be adjusted to the bank's working days.
Times in Recurring Payments are in EST.
Recurring Payment Statuses
Recurring Payments have a status attribute, which represents their current status.
| Status | Description |
|---|---|
| Active | The status is set to Active when a recurring payment is created. |
| Completed | The status changes to Completed once the recurring payment's end date has passed. |
| Disabled | The status is set to Disabled when a recurring payment is turned off. It can be reverted to Active by enabling the recurring payment. |
| Deleted | The status is set to Deleted when a recurring payment is removed. This action is irreversible, unlike the Disabled status. |