Postpaid Payments
Postpaid payments refer to a billing model where services or goods are consumed first and paid for later, typically on a recurring cycle (e.g., monthly). It is commonly used in telecommunications, utilities, and subscription-based services, allowing users to pay after usage rather than upfront. This model involves credit assessment, invoicing, and payment collection processes to manage customer accounts.
Developers should learn about postpaid payments when building systems for billing, invoicing, or subscription management in industries like telecom, SaaS, or utilities. It is essential for implementing features such as usage tracking, automated invoicing, and payment processing in applications that handle recurring customer payments. Understanding this concept helps in designing scalable and compliant financial systems that integrate with payment gateways and accounting software.