Payment Types

The payment type refers to the customer’s payment approach for a particular plan.

There are three payment approaches in Monetization, which are:

  1. Prepaid payment type
  2. Pay now payment type
  3. Postpaid payment type

Prepaid payment type

The prepaid payment type involves the customer paying in advance before they can use the product service. Prepaid customers do not receive invoices; instead, they have account balance(s) that enables them to use the product service as long as the account balance is not empty.

Pay now payment type

Another name for the pay now payment type is called pay-as-you-go. Customers with a pay now payment type do not have a RECURRING billing cycle; instead, they are billed on demand—for example, customers that use a car sharing service, or taxi fare, etc.

Postpaid payment type

A postpaid customer does not pay before or immediately after consuming a product service; instead, they have a billing cycle. The customer’s invoice is generated after the billing cycle shifts. However, the payment collection is determined based on the invoice’s due date.