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This would be the most secure billing method. Each client has his own page, and you just write a new line for each invoice. Then after payment, you mark it paid.
There are repositories that update PHP on CentOS 6 and they will break things. Depends on what you are doing but some things definitely do break. So then you begin the process of digging a bigger hole.
Not an option for wide scale requirements change imho. Maybe could work ok if that is all you have on your server but many people would have other things that would break.
The better option is minimum OS requirement if you need the newer PHP.