CreativeMinds Glossary
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- A Round
- A/B Testing
- Abbreviation
- Above the Fold
- Ad Rotation
- Ad Server
- Admin Panel
- Affiliate
- Affiliated Product Name- Example
- Agile
- Alpha
- Alt Attribute
- Apache
- API
- Application programming interface
- Attachment
- B2B
- B2C
- Banner
- Beta
- Bootstrapping
- Bounce Rate
- Breadcrumb
- Burn Rate
- Business Model
- Call Option
- Campaign
- Card sorting
- Chargeback
- Checkout Process
- Click rate
- Click Through
- Click-Through Rate (CTR)
- Clicks
- Clickthrough
- Client Side
- Cloud Computing
- CM Answers plugin
- CM tooltip glossary plugin
- CMS
- Competitive Analysis
- Conversion
- Conversion Rates
- Convertible Note
- Cost Per Acquisition
- Cost per action
- Coupon
- CPC (Cost Per Click)
- Creative Brief
- Cross-Platform
- Cross Platform
- CSS
- CSV
- Demographics
- Dictionary
- Disclaimer
- Discussion Board
- Disruptive Innovation
- Drop Shipping
- Duration
- EC2
- Ecommerce
- Ecommerce Platform
- Engagement
- Eric Ries
- Exit Strategy
- Extensible Markup Language (XML)
- Facebook API
- FOB
- Focus Group
- Forum
- Fulfillment
- Functional Design
- Functional Requirements
- GIF
- Glossary
- Google Translate
- Gravatar
- Heuristic Evaluation
- HTML
- HTML5
- Image Title
- Impressions
- Incubator
- Information Architecture
- JavaScript
- JPEG
- jQuery
- klout
- Knowledge Base
- KPI
- LAMP
- Landing Page
- Lean Startup
- Lexicon
- Load Balancing
- Localization
- Localizations
- Magento
- Magento® Extension
- Magento Template
- Marketplace
- Merchant
- Merriam-Webster
- Minimal Viable Product
- Minimum Viable Product
- Mobile Commerce
- Mobile Friendly
- Mockup
- Moderators
- Monetization
- MP3
- MP4
- Multi-Factor Authentication
- Multisite
- MySQL
- Newsletter
- Notification
- OAuth
- Open-Source Software
- Open Source Software
- Parse
- Pay per Click
- Payment Gateway
- Permalink
- Permissions
- Personas
- PHP
- Pivot
- Plugin
- Plural
- PNG
- Preferred Stock
- Taxonomy
- Purchase Order (PO)
- Python
- Recurring Transaction
- Referer URL
- Registration
- Requirement Specifications
- Responsive
- Responsive Design
- Retention
- Retention rate
- RFP
- ROI
- Return on Investment
- Role
- Rotation
- RSS
- Ruby
- SaaS
- Sales Receipt
- Sandbox
- Scenario
- Screen Resolution
- Scrum
- Search engine optimization
- Seed Investor
- SEM
- SEO
- Shopping Cart
- Shortcodes
- SKU
- Software Framework
- Software Mockup
- Software Optimization
- Sprint
- Startup DNA
- Sticky
- Supply Chain Management
- Synonyms
- Target Audience
- Template
- Term
- Term Sheet
- Text ads
- Thesaurus
- Thread
- Tooltip
- Traction
- UEX
- URL
- Usability
- Usability Lab
- Usability Standards
- Usability Testing
- Use Case
- User Experience
- User Experience (UX / UE)
- User Flow
- User-Flows
- User Flows
- User Group
- User Groups
- User Interface Design
- User Story
- UTF-8
- Variations
- Venture Capital
- Vocabulary
- Walk-through
- Web Analytics
- WhishList Member
- Widget
- WireFrames
- WordPress
- WordPress Plugin
- WordPress Theme
- XML
A recurring transaction allows you to save a transaction along with the data so you do not have to repeat the process. The consumer authorizes the merchant to charge his or her credit or debit card a specified amount on a specific date of every month or year. It sets the transaction to repeat automatically. You can set a transaction to recur for various products and services over an indefinite or a specific period. The cardholder may also stop the charges by cancelling the plan or discontinuing the service.
An example of a recurring payment is the monthly fee for hosting an eCommerce website, where the website host charges the eCommerce business a monthly fee for hosting a website on their server.
On certain occasions, the merchant may charge the credit cardholder without the proper authorization. This is when the merchant may acquire a chargeback (consumer requests a refund from the credit card company). Merchants need to be careful not to process recurring transactions without proper authorization. This maybe costly to the merchant and may tarnish their reputation.
An eCommerce business that uses the Magento® platform has the option to setup recurring transactions for products.