Monthly recurring invoice - will Wave catch up if client is late in paying?

DDCWAP

Hi! I sent a client a recurring/automatic credit card payment invoice several days ago.

The first is supposed to be billed July 1st, and then the 1st of the month each month after.

This client is a big company and a bit slow on paying for things...

Question is - if they don't get around to adding their credit card details until July 15th or something, will everything work out? I guess in that case they should be billed immediately for the July 1st period, and then again on August 1st.

Also curious - what if they don't pay until after August 1st? Will they incur two payments basically at the same time?

Thanks!