What is autopay and why do you need it?
Autopay is a setting on Maroo invoices that is controlled by you (business). This setting requires your client to connect a payment method to your invoice that can be charged in the future based on the invoice payment schedule, i.e. if you have multiple installments.
Autopay is different to what's commonly called "having a card on file" meaning you won't be able to charge your client outside of the invoice that has a required autopay setting, i.e. if you are running a catering business and you need to charge your clients after the event for any excess beyond the original invoice, you will need to issue a new invoice and the clients need to make a payment for it separately from the original one.
How to enable autopay for your invoice?
First of all, it's important to note that autopay as an option is available only for itemized invoices that support multiple payment milestones and when you break a total invoice amount over a few dates.
⚠️ If the invoice has only one due date, autopay option will not be available.
You will be able to enable autopay on the screen where available payment methods are being added. At the top you will see a toggle to manage autopay settings for this invoice.
Once invoice was created, when you open it on the right hand side you will see confirmation that autopay is enabled + you will be able to manage the settings if you'd like to (de)activate autopay in case you changed your mind (click to enlarge the image)
ℹ️ Please note that you are able to change the autopay settings before the first clients' payment was made. Once the client made the first payment, autopay settings can't be changed.
Notifications
When you update the autopay settings after you sent an invoice to your clients, for every change you make, both you and your clients will receive notifications about this change. Below is an example of the email that your clients will receive if you turn off autopay when initially requiring it.
Your clients will receive a payment reminder 3 and 1 day before the due day notifying them that the payment will be processed automatically on a given day.
Benefits of using autopay
Benefits for clients:
convenience: clients don’t have to remember to make payments manually each time. once autopay is set up, payments are automatically processed on the due date.
timely payments: autopay ensures that payments are made on time, avoiding late fees and maintaining a good payment history.
stress reduction: clients don’t have to worry about missing a payment or the hassle of logging in each month to pay their bills.
financial planning: with autopay, clients can better manage their budgets knowing exactly when payments will be deducted.
Benefits for your business:
reliable cash flow: vendors receive payments consistently and on time, improving cash flow and financial stability.
reduced administrative work: autopay reduces the need for manual payment processing and follow-ups, saving time and effort.
improved client satisfaction: offering autopay can enhance client satisfaction by providing a seamless and convenient payment experience.
lower collection costs: with autopay, the likelihood of late payments is reduced, thereby lowering the costs associated with collections and late fees.
FAQs
Q: Is there a fee for using autopay?
A: No, autopay setting is available for every business on Maroo Business and Pro plan
Q: How do i know if my autopay is set up correctly?
A: You can click on the invoice and see the payment schedule section on the right hand side.
Q: How do i cancel or turn off autopay on my invoices?
A: Similar to above, just click on the invoice, review payment schedule and use the respective toggle to manage the autopay settings
Do you have another question about autopay? Chat us or email via [email protected]