How To Set Up Recurring Payments In Stripe | Tutorial For Beginners

how to set up recurring payments in stripe hi everyone welcome back to another video I hope you all are doing great and I bring you back another video in this video I am going to be showing you how you can add recurring payments and recurring products in your stripe account so basically what is a recurring payment you ask recurring payments are payments that a customer has to recurrently pay you so for example if I were to give you daily live examples it could be your cable bill your house bill your electricity bill these are recurring payments because every month you pay them so that's where recurring payments are that someone has to pay them on a plan basically a subscription so yeah that's the main overview of what a recurring payment is now I'm going to show you how you can add it to your stripe account so it's going to be an easy process some simple steps I'm going to guide you right through it and by the end of this video you're gonna do what you came here for okay so first of all you're gonna go ahead and stripe here you're going to see the first link stripe.com so you're just going to go on this I'm going to wait for it to load up now you're gonna obviously need to sign up for stripe and uh we're just gonna click on start now if you want to start up so here they're going to ask you to sign up and create your very own stripe account now make sure to put in your real information you're going to put in your nationality you're gonna put in your password make sure to get a strong password okay so now we're going to create our account and we're just gonna wait for it to create it it's gonna send us verification email on our Gmail so I'm just gonna verify it and come right back okay so once you have verified your email over here they're gonna say activate payments on your account fill out your business profile to start accepting payments this is for accepting payments and activating it you can activate if you want to but I'm just going to script for now because activating payments takes a lot of time because you have to add in all your details so I'd don't want to do that right now so yeah basically this is the main interface of our stripe account now on our stripe account we have different tabs for example payments balances customers products reports and payments you can obviously see the different payments you've done you've received Etc regarding your products and balances you can see your account balances that you currently have your top-ups and your payouts when you go to customers and customers you can find your customers basically the people you have approached or the people you've invited or the people that approach to you for your product and once we go in products this is where we'll have to start our main work so I'll come to this in a while but I'm just going to show you a bit of stripe again so if we go in more and more we can see a ton of these options for example there are direct payments payment links invoicing you can pay subscription plans there's multi-party payments in which there's different platforms you can pay on then there is financial services business operations many things so yes that's the main outlay of what we're about to use in stripe so let's just go directly into products and now I'm going to show you how you can make your recurring product for your recurring payment so you're going to go and click on ADD product and you're just going to give it give your product a name for example let's put in a car let's put in a Honda Civic RS turbo and you want a recurring payment of 400 per month that's the recurring payment you want so that's the name you're going to put and then you're going to give the description regarding your name product you can even upload an image of your product if you want to which is purely optional and then if we go on additional options we can see the statement descriptor this is obviously also optional if you have any difficulty understanding there's there's this info box which you can use for example this statement descriptor is adding a statement descriptor will override your account description for payments and then the unit label is how you sell your product basically for example if you charge the seat and you see it as the unit label it will be included in the line item as the price per seat so yeah that's basically your unit label but we're not going to touch that because that's just as we can see additional options that we don't want to use right now so in the pricing model we're obviously going to go on standard pricing we're going to put in our price and make sure you're going to click on recurring we're going to put in our price which is 400 obviously make sure you change it to Dollars once that is done in the billing period obviously we want in monthly even though we can do it weekly every three months every six months or annually but we're gonna do it monthly the rest you don't really need to mess around with and then you're just going to go and save product now once the product saves then I'll show you what you can do with it more now once the product is saved what you can do with this is this is the API ID that you can give to your customers for example you can copy this and give to your customers and your customers put this and this is where they can pay you basically for your product and this is basically we've just created a recurring product but how are we going to create a payment link so you know to get recurring payments right down here you're going to see this plus sign and you're just going to click on create payment link and once you do that you're going to add your company name again for example again you're going to write shoes and this is just a random name you don't really need to add a proper name I just added this for research purposes now once you've done that you're going to see that they've given you this preview so for example this is what the user is going to see when they're going to come and try to buy your product so it's going to be subscribe to Honda Civic RS turbo 400 per month and here's the price 400 per month and here they're just going to put in they're gonna either pay with their Apple ID or they're just gonna put in their card debit or credit and then they're gonna subscribe and by that what will happen is it will start cutting off subscriptions and that is how you'll get recurring payments this is obviously the desktop view you can even check the mobile view it and this is how it's going to look like on mobile phones so yeah and you can also add the quantity of your product for example if you want to add two you can make two if you want to add three it's going to make it 1200 you can add 10 it can make it four thousand dollars or you can just let the customer owners adjust the quantity so yeah basically that's how you can do it so you can even set a limit for the customers to set you can add more products if you want to in this one page and yeah that's basically it and then in the other options you can collect the customer's address if you want to which is I guess that's a good step because you should do that you can ask for the billing and shipping address then require a customer to provide a phone number if you want to have their number and you can even give them a free trial if they want to use your product and you can keep it for however many days you like and in the advanced options you can allow different promotion codes for your product you can allow different business customers to provide tax IDs if you just want to be sure and once you do that you're just going to create link and you're going to take that link and you're going to send it around to customers you're going to put it on advertisements so that people subscribe to your product now once someone subscribed to your product they're going to come down here and customers and then you can just click on them and their names are going to come down here you're going to click on their names once you click on their names it's going to give you an option to set a recurring payment period for this person for example if you want to tell them or give them a notification that this is the period that you have for this payment if you don't do it by then then obviously you will cut off their subscription and that can automatically be done in the settings you just set a time period under the name and if they haven't paid in that time period your subscription will automatically be cut off from that customer so yeah that's how you get your recording payments and once you get all your payments they're going to get stored here in your USD balances and different types of top-ups we'll just show here if more funds are made to you and yeah using that balance in your wallet you can go on payments and you can make payments to different people you can even buy a subscription for yourself over here and you can invest in different things through this so yeah that's basically the gist of it and here you can even add more new accounts if you want to for example I just have one but you can add more than one account more than one business ventures but yeah make sure before doing all of this the most important step is obviously adding your payment method so you're just going to put in the type of business you have you're going to go on continue then you're just going to ask you your business details they're going to ask you for fulfillment details they're going to ask your public details you're going to put in all of this then you're going to ask you to add your bank now if you want to secure your account they're going to ask you to send around I think one or two dollars to your from your bank to to the stripe website so they can verify that the bank account you've provided is actually yours and then you can add extras if you want to those are purely optional and then you can just review your account one time and finish so yeah basically that's the gist of it be sure to put in your correct information for example your address your phone number your social security number you have to put this in and it should be accurate so yeah once all of that is done your account will be fully set it up and accessible and with that you can make recurring payments and you can set them up as you like and yeah that's how easy it is to set things up over here so I hope this video was helpful to you if you have any problems you can let me know down in the comments and if you want more videos like this you can let me know that also down in the comments and I will get back to you and make sure to like subscribe and share the video it really helps me out leave a nice comment if you like the video and uh yeah have a nice day and I'll see you in the next video goodbye

Channel: Tutorials by Manizha & Ryan

Views: 7,146

Keywords: stripe tutorial, recurring payments, stripe payments, stripe recurring payments, stripe payment, stripe payment tutorial, stripe, stripe subscription tutorial, stripe checkout tutorial, stripe recurring payments php, recurring payments stripe, paypal recurring payments, recurring payments paypal, paypal subscriptions and recurring payments, how to set up recurring payments in paypal, tutorial, stripe payment gateway, stripe checkout, how to set up recurring payments

Id: sf9PXBDoh8g

Length: 10min 7sec (607 seconds)

Published: Thu Nov 03 2022