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I'm thinking if it is possible to use cartThrob as an Advertising manager for automating payments and recurring subriscriptions ad-banners?

Like if i have a link on a website 'Advertise w/ Us' and when click shows up a table for vacant advertising slot with prices per month and types of banners...Is that possible?

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You can definitely use it for that. CartThrob Subscriptions can handle the recurring billing aspect. Each slot can be a variation, and you can build logic to show or not show options based on what's available or not.

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