Payment Types
There are three payment approaches in Monetization, which are:
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.
Note:
A prepaid customer can receive monthly statements for their consumption but not invoices.Information:
The customer account balance can be topped up by voucher code, credit/debit card, or API integration.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.
