How to create an annual subscription plan with custom payment installments? Answered
Hey guys, I have a question regarding plan creation. Is there a way to setup up an annual subscription that is paid in X instalments? I don't want to create a monthly subscription
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8 comments
Hello Stelios,
When you create a paid plan you can select how many months or years is going to happen before collecting the next payment.
So you can say the user is going to pay every 1, 2, 3 and so for months. Or every 1, 2, 3,... Years
You can create a "yearly plan" that would collect the payment every 6 months for example. But if the user cancels the plan before 6 months it won't collect the remaining payment :/
You can read more about it here https://docs.memberstack.com/hc/en-us/articles/7405693562011-How-to-Create-a-Paid-Plan-in-Memberstack
+1 to what Raquel said.
Stelios Papagrigoriou can you explain a bit more about why this is important to you? Maybe we can recommend some other solutions based on your goals.
Thanks to both!
Hi everyone,
For now, all I see is that the subscription period needs to match the payment cycle. Example: 1 month sub, paid every month. Or 1 year sub, paid every year.
But, I would like: 12 month sub, paid monthly.
Is that even possible?
Thanks!
I believe that you may need to check with a EU lawyer about the legality of that within some regions of Europe.
However technically you could remove the “unsubscribe” button from their stripe dashboards and have them manually request for you to remove them. Though I am unaware of any way of building that in “natively”
I personally wouldn't recommend it. Any person can cancel their credit card before the "yearly membership" concludes. And the merchant could not create accurate forecasts, since that yearly membership is kind of a lie 😅
The benefit of a yearly payment is to offer a significant discount to the customer investment in a one time payment that way both parts win, the customer gets a discount and the merchant gets the year deposit ahead of time.
Yes, thank you for the reply. All point valid and I am walking away from that option. We are going to offer a 3 month and 12 month plan
What Raquel Lopez mentioned is also rather important, if your users start having a high level of canceled credit cards, stripe is likely to consider you a bad vendor and might even block your stripe account permanently. A high level of disputed transactions can also do the same.
Pablo Echeverri that is a good solution, it’s exactly how I formatted my subscriptions too
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