The Auto Top-up billing models allows businesses and customers to establish relationships, such that the business can track the balance of the customer on their platform and whenever the customer’s balance drops below a predefined threshold, the business is allowed to top it back up to the original balance.
As an example, consider a customer of a trading platform. That customer wishes to deposit $100 and also allow the business to top it back up to $100 whenever this balance drops below $20. This can be very useful for margin calls.
How Does Auto Top-up Work?
Now when creating a new Billing Model within the Products section, businesses can select “Top-Up” and customize it by setting the parameters: Original Amount, Threshold and Top-Up Amount. With this contract, they will also be able to set the total amount they are asking the customer to approve for them to ‘pull’ from their funds.
Customers can select their preferred Top-Up option and decide how much they want to spend based on a predefined total spending amount as long as there are sufficient funds in their account. The customer can approve, edit or increase the limiter of the total spending set by the business. This allows them to personalize the limiter in case they are close to exceeding it, leaving the customer in control of their funds at all times.
Ideal Industries for Auto Top-up
Some of the industries that may reap the benefits from this billing model include online entertainment, video-on-demand, online casinos, online gaming, sports betting, trading, telecommunications, and public transportation.
If you are a business wanting to be part of the PumaPay payment revolution, register now!
Visit the PumaPay site for more information about our Payment Solution.