Droves of WordPress experts are creating businesses that are focus on accepting recurring payment.
Recurring revenue that is monthly is the ultimate goal. If you can get customers who will each month to pay you instead of one-time payments you can turn that effort into a relaxing high-performing, low-stress company.
The majority of premium plugins use this type of model. The majority of them are shifting away from single-use purchases and instead opting for annually (or every month) renewals to ensure continuous use of the plugin , as well as continuous support.
We’ve seen this same pattern take place with theme shops. Since a long time the theme shops have used the model of annual payments to fund the ongoing development of new themes as well as providing the support.
Some course creators are even looking to this direction. Zac Gordon is among the top online Javascript instructors in the WordPress area. Up until recently, he offered each class separately, so students could pay for their time through various classes.
Then he offers one monthly subscription, which allows his students to pay a monthly cost to access all of his classes.
Additionally, there’s a great application like Freshbooks which makes the process of accepting subscription income incredibly simple.
We’re also big fan of monthly recurring revenues. Products such as WP Buffs are successful in significant part due to our emphasis on MRR. We’re huge fans of the business model that we’ve just have launched the WPMRR video course as well as the WPMRR WordPress Podcast!
However, the truth remains…plenty of people are thinking about how to accept the recurring payment on my WordPress website?
Because so many people from all over the world of the WordPress world are experiencing great success, let’s discuss some of the knowledge to assist you in accepting WordPress regular payments and build an enterprise that truly rocks the world for you.
Picking a Payment Provider
It is up to you to determine if you’ll accept payments via credit card.
If you do, you’ll have to register with an online payment processor that will ensure that you keep your personal information about your customers and credit card details in a secure manner.
It’s not widely available across the world, but we do use Stripe. It’s the standard in this field and, when you can choose for a payment method, we’d suggest using it.
If you’re unable to make use of Stripe due to any reason (country that you’re in or a different country, etc.) Here are a few Stripe alternatives you could use.
Accepting Recurring Payments via PayPal
PayPal lets you to accept recurring payment and you can make a button that gives users the possibility to create subscriptions with you. In order to accept recurring payments through PayPal you’ll need an PayPal company account. You can open one at no cost.
Once you’ve signed-up to an account with your PayPal company account, and signed into your account, you’re now ready to design the button you want to place on your website that allows you to market subscription-based products.
In the navigation bar at the top Go to tools > business setup.
You’ll be directed onto your Business Setup page, where you can request money and create payment options.
Accepting Recurring Payments via PayPal
Scroll down until you find the Scroll down, and locate the PayPal checkout on your site option. Click Set up Online Payments to continue.
It will ask you how to handle card transactions on your site. You can choose to accept all transactions through PayPal or include PayPal as an additional option.
Then, you’ll be asked how to integrate PayPal on your site. If you’re using an application (such as an E-commerce platform) that is integrated with PayPal You can select the option A. But, we’ll go by selecting Option B that will result in the familiar PayPal button that everybody is familiar.
Select the next kind of button that you would like to include. In this instance we’ll select Subscribe, however automatic Billing may be more appropriate for certain scenarios.
You will be asked to create and configure the behavior of the button. PayPal requires you to input specific parameters such as:
- The item’s name
- The amount of the bill every cycle
- The duration that the bill cycle takes
The Create PayPal button screen will guide you through each of the fields that are mandatory as well as optional. After you’ve made any adjustments to the appearance and behaviour of your button then click Create Button to proceed.
Wrapping Up
Recurring payments can present a number of difficulties when it comes to accepting one-time payment There are many alternatives available designed to assist you in this endeavor.
The most suitable option for you in regards to accepting recurring payment options is dependent on the nature of your business and the services you offer (e.g. is the customer receive updates on a regular basis or do they pay for access to an unchanging collection or content?). We’ve attempted to cover the various options available for various requirements. However, if you need assistance in deciding on the best option for your needs please don’t hesitate to connect with tempux, the leader on the subject of WordPress Security and Performance.
From speed optimization solutions as well as unlimited edits to your website and security, 24/7 support, and even white-label website management for freelancers and agencies our skilled engineers will be there for you. Invite us to be an integral part of the team that will make your website Bufftastic! Take a look at our plans
