Regular FuturePay Agreements

Payments for Regular FuturePay Agreements are at regular intervals. The agreement behaviour is dependent on the option chosen:
Option 0:
The individual payment amounts are fixed on creation of the agreement. You can set a different initial payment amount for the first payment if required.
Option 1:
You must set the normal payment amount when the agreement is created. You can set a different initial payment amount for the first payment if required. If you wish you can then adjust the individual payment amount after the agreement has started, using the Web-Merchant/WM Administration Server (WAS). The amount cannot be adjusted when less then a week from the next payment date. The customer will be sent an email whenever you adjust the amount.
Option 2:
You cannot set the payment amount when the agreement is created. Before each payment you must set the payment amount using WAS. If you do not set the amount then no payment is taken. The amount cannot be set when less then a week from the next payment date. The customer will be sent an email whenever you set the amount.

Number of Payments

The number of payments can be fixed or unlimited. If it is unlimited payments will continue until the agreement is cancelled by you or the customer. This is done by visiting the Web-Merchant/WM Administration Server.

Payment Dates

You can set the first payment to happen either on an explicit date or to happen after a specified delay from the setting up of the agreement. The first payment cannot happen on the day the agreement is set up so must always be in the future. If you want an immediate payment then you can include a standard payment in the submission to Web-Merchant/WM.

It is possible for agreements to be created with out a start date. In this case no payments will occur until you visit WAS and enter a start date.

Subsequent payments happen regularly at an interval that you specify. If you specify a date that does not occur in a particular month (such as 30th of every month, which does not exist in February) then the payment will happen on the last day of the month.

Payment Notification

Both you and the customer are notified by email of every transaction that is attempted, including failures.

Payment Failures

Payments can fail for the following reasons:
  1. Customer’s credit/debit card fails.
  2. Customer’s WorldAccount has insufficient balance.
Both you and the customer will be sent a warning email when this happens. The payment is attempted twice every day until either it works or the agreement is cancelled by yourself or the customer. Every failed attempt will result in a warning email.

The customer can take various actions to rectify the situation. In case 1 he can change the credit/debit card from which payments are made; in case 2 he can top up his WorldAccount. Both of these can be done on the Web-Merchant/WM Administration Server (WAS).

Further Details
FuturePay Home Page