How subscriptions work
Learn how subscriptions work within Fanspay.
With Subscriptions, customers make recurring payments for access to a product for a set period of time. Customers typically pay a fee, either on a recurring basis (such as monthly or annually) or a one-time fee for the subscription period.
How subscriptions work on blockchain
When a customer subscribes, the subscription terms are written to the blockchain. Fanspay uses a smart contract, which is responsible for debiting recurring payments from the customer's account and transferring them to your account.
Fanspay does not store your funds, funds go directly from the customer's account to yours.
Subscription types
Fanspay offers the opportunity to set up two types of subscriptions: basic and with a trial period. This gives customers the chance to choose the option that best fits their needs and preferences.
Basic subscriptions
A basic subscription allows customers to pay a regular fee and enjoy ongoing access to the product or service they have subscribed to. This means that they can continue to use the product or service as long as their subscription remains active.
How it looks to your customer
To activate the subscription, the customer has to follow 4 simple steps:
Connect a wallet
Select stablecoin
Allow tokens
Click Subscribe
Learn more how Fanspay checkout works.
Subscriptions with trial periods
You can start a customer’s subscription with a free trial period. With a trial period, customers can test out your product or service before committing to a longer-term subscription.
The trial period is calculated in days and does not require charging the customer's address before the trial period ends. Once the trial period is over, Fanspay smart contract will automatically charge the customer's account.
How it looks to your customer
To activate the trial subscription, the customer has to follow 4 simple steps:
Connect a wallet
Select stablecoin
Allow token
Click Start trial
Period
You have the flexibility to choose the length of your subscription period, which can be measured in days, weeks, months, or a year. This allows you to tailor your subscription to your needs and preferences, whether you're looking for short-term access to a product or service, or a longer commitment for ongoing benefits.
Recurring charges
Fanspay handles recurring charges for you automatically. This includes:
Automatically charging customers and attempting payments when new billing cycles start.
When payments fail, Fanspay retries them using the Smart Retries feature. This automatically re-attempts payment. In total, Fanspay will attempt to charge the payment 3 times.
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