One Time Payments
One Time Payments refer to a payment model where a customer makes a single, non-recurring payment for a product or service, as opposed to subscription-based or installment payments. This model is commonly used in e-commerce, digital downloads, and one-off services, where the transaction is completed immediately without future billing cycles. It simplifies payment processing for both merchants and customers by avoiding the complexity of recurring billing management.
Developers should learn about One Time Payments when building applications that involve direct sales, such as online stores, software purchases, or event ticketing systems, as it's essential for handling secure, one-off transactions. This knowledge is crucial for integrating payment gateways like Stripe or PayPal, ensuring compliance with financial regulations, and providing a seamless checkout experience for users. It's particularly relevant in scenarios where products are sold individually without ongoing access or services.