Creating a Subscription product in Stripe for Vendor Subscriptions

Creating a Subscription product in Stripe for Vendor Subscriptions

Omnyfy offers marketplace owners the ability to create Vendor Subscriptions that charge vendors a fee to participate on the marketplace. Vendor Subscriptions are created on Omnyfy using the Vendor Subscription module. Click here to learn how you can create a new Vendor Subscription.

To complete the creation of a Vendor Subscription, you need a Subscription Code from Stripe (Payment Gateway ID). 

Follow the process below to create a new subscription in Stripe, then simply copy and paste in your Subscription Code into the newly created Vendor Subscription Plan in Omnyfy.



Adding a Subscription Product in Stripe

  1. Log in to your Marketplace Owner Stripe account

  2. Go to the left menu and select the Products main menu heading

  3. Click on Add product on the top right




Product Information

This is where you put the initial product descriptions. Note that this is different from your subscription plan tiers. You may have multiple plans, with each plan having different tiers - similar to Vendor Types EG:

  • Retailer Plan

    • Bronze Tier

    • Silver Tier

    • Gold Tier

  • Services Plan

  • Corporate Plan

    • Tier 1

    • Tier 2

Here you are creating the information for "Retailer Plan", "Services Plan", "Corporate Plan". The tiers are managed below. Note that if you are having different tiers with different billing intervals, you'd be best to create those as individual plans instead.



Field Name

Notes

Name

This is the name of your subscription plan.

Description

This is fine to leave blank, as this information isn't really shared with the vendors.

Image

This is fine to leave blank, as this field isn't really shared with the vendors.

Statement Descriptor

This is the information that will appear on the Vendor's Credit Card - ensure it contains the marketplace name so the payment is identifiable.

Unit Label

This is the unit count of the subscription. If the subscription is for a month, then set it to "Per Month".

The metadata field can be ignored as this isn't used.



Pricing Information

This is the section you will manage the different tiers for each subscription plan. In the previous example:

  • Retailer Plan

    • Bronze Tier

    • Silver Tier

    • Gold Tier

  • Services Plan

  • Corporate Plan

    • Tier 1

    • Tier 2

This is where you manage the "Bronze Tier", "Silver Tier", "Gold Tier" from Retailer Plan, and "Tier 1", and "Tier 2" from Corporate Plan.


Field Name

Notes

Pricing model

Select Standard Pricing here

Price

Input the price and currency used for this tier. It's important to note that you should be setting this to the Base Currency of the Marketplace.

Recurring/One Time

Input if it's a one off price or if you will be having a recurring charge for the subscription. Generally this should match with what you have input on the subscription plan in Omnyfy.

Billing Period (if Recurring is selected above)

This is to determine how frequent the interval charges will be. Here you can select the following:

  • Daily

  • Weekly

  • Monthly

  • Every 3 months

  • Every 6 months

  • Yearly

  • Custom (currently we do not have a set up for custom in Omnyfy)

Select the matching value in your subscription plan you created in Omnyfy.

Keep "Usage is metered" unticked.

Price Description

This will be the name of the plan visible to Vendors in your marketplace, so ensure it makes sense for subscriptions. EG Bronze, Silver or Gold

Free Trial Days

Set the Trial Period for the Subscription (if the Marketplace owner wants to offer a free trial period). This should match the same number for the related subscription plan.

If your plan is going to have multiple tiers, you can simply select the + Add another price button to input another tier.



Adding the Payment Gateway ID to the Subscription Plans in Omnyfy

Once the Product and Pricing tier is created, you will see the Product information view.



IMPORTANT: Once the Product is created, you can then go back to the product to see the pricing details in future. Each pricing for the product will generate an API ID. This pricing API ID will be copied and pasted into the same Subscription Product created in Omnyfy for Gateway ID. Additional pricing plans can be added for the product by selecting Add another price. Logs display the API calls used to create the products and pricing plans. Clicking the logs will display the Request and Response. 


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