How Does AutoPay Work in Versapay, and How Can I Manage Payment Methods?
Versapay offers flexible payment options, including AutoPay, to streamline invoice payments. Below, we explain how AutoPay works, how to manage payment methods, and address common questions about overdue invoices and payment updates.
AutoPay Functionality in Versapay
AutoPay is a feature that allows invoices to be paid automatically using a saved payment method. However, simply adding a payment method does not activate AutoPay. To enable AutoPay:
Log in to your Versapay account.
Navigate to the AutoPay settings.
Select the payment method you want to use for AutoPay.
Confirm the setup to activate automatic payments.
Without an active AutoPay agreement, invoices will not be paid automatically, even if a payment method is saved.
Managing Payment Methods
Adding or Updating a Payment Method
When you update your card details in Versapay, the new card will be used for future AutoPay transactions. However, updating a card does not automatically pay overdue invoices. To pay an overdue invoice manually:
Go to the "Invoices" section.
Select the overdue invoice by checking the box.
Click "Pay" to complete the payment.
Removing a Saved Payment Method
To remove a saved payment method:
Log in to your Versapay account via the web portal.
Open the drop-down menu at the top right.
Select "Payment Methods."
Locate the payment method you want to delete and click "Remove."
Important: If the payment method is linked to AutoPay and AutoPay is active, you must first add a new payment method to AutoPay. Once the new method is linked, you can remove the previous one.
Handling Overdue Invoices
Adding a payment method does not automatically pay past-due invoices. These invoices can only be paid if:
They are included in an active AutoPay agreement and captured during a scheduled AutoPay run.
A manual payment is initiated by the user.
Key Takeaways
AutoPay must be explicitly set up for invoices to be paid automatically.
Updating a payment method does not affect overdue invoices; these must be paid manually.
Removing a payment method linked to AutoPay requires linking a new method first.
By understanding these features, you can effectively manage your payments and avoid missed or delayed transactions.