That's exactly what I've got going on with a default handler to attempt to process CCs from locally stored numbers. The bulk of the module is a product feature that lets you add recurring fees to products. At checkout, it will scan the products and then can attempt to process the recurring fees. Modules can simply implement their own hook so store owners can choose to use that module for processing the fees. This means modules that are already in progress should very simply interface with it. It may need some work to integrate better with the roles module, though.

Development is being sponsored by jhuckabee, and if he's not opposed I can post up the WIP version that I e-mailed him a while back.

I hope to polish it off during the beta bugfix phase.