Recurring Payments

What are Recurring Payments?

Recurring payments are payments that charge the same card or bank account multiple times.

The payer agrees to the plan for the recurring payments (for example multiple installments or an ongoing subscription), and allows their card or bank account information being stored for future payments. This means the future payments can be charged without the payer being present.

Plans for Recurring Payments

A recurring plan specifies the terms of the recurring payments, such as the number of installments, length of the subscription, payment frequency, amounts, and any special conditions.

Who manages the Recurring Payments?

There are two different options for recurring payments when you are using the Flywire API:

Self-managed recurring payments

With self-managed recurring payments, you define the plans yourself. You have complete freedom, for example regarding the number of installments and when payments are made.

Since Flywire doesn't know your settings, you have to manually initiate each payment for those plans yourself.

You also have to send mandatory emails to your payers that inform them about the recurring payments.

Available payment methods:

  • Card

  • Direct debit

    Supported direct debit schemes

    SEPA

    SEPA (Single Euro Payments Area) direct debit is a payment system that makes payments in Europe easier and cheaper. SEPA allows you to collect payments in all countries that follow the SEPA scheme (36 countries in the Eurozone). The currency for all SEPA direct debits is Euros.

    BACS

    BACS (Bankers' Automated Clearing System) is a network of banks and building societies that participate in the BACS payments scheme. BACS payments are made in GBP and are only available in the UK. BACS payments are one of the most common bank-to-bank transfers in the UK.
    EFT Canada

    EFT ("Electronic Funds Transfer") Canada is the most common direct debit scheme for payments in Canada. Flywire uses the third-party implementation Plaid to connect your payers to their bank accounts for EFT Canada.
    ACH

    ACH ("Automated Clearing House") is an electronic network used in the United States of America for processing financial transactions. The ACH system is designed for domestic transactions within the United States, which means the currency for ACH payments is USD.

Flywire-managed recurring payments

With Flywire-managed recurring payments, you use Flywire's pre-defined installment plans. You only have to configure the plan settings (for example the number of installments) in Flywire Dashboard, Flywire will take care of the rest.

Since Flywire knows your plan settings, payments get initiated automatically according to the schedule.

Flywire also manages all emails to your payers on your behalf - these are mandatory to inform them about the recurring payments.

You need access to Flywire Dashboard to define the settings for the plans. If you don't have access yet, contact your Relationship Manager.

Available payment methods:

  • Card