API Monetization—Switching from Stripe Connect to Bring Your Own Stripe
With the introduction of the “Bring Your Own Stripe” monetization option, you can now enjoy increased control over your payment collection process. Additionally, international API providers can benefit from expanded regional support, making it easier to monetize their offerings. Bring Your Own Stripe is gradually replacing Stripe Connect, providing our API Providers with greater flexibility in monetization. To assist you in transitioning from Stripe Connect to Bring Your Own Stripe on FabriXAPI, we have outlined below some common approaches to ensure a seamless switch.
Approach 1: Create a New Portal
If you are interested in trying out the Bring Your Own Stripe feature, we recommend creating a new API Portal on FabriXAPI and initiating the monetization setup from the beginning. This approach will allow you to fully explore and experience the capabilities of Bring Your Own Stripe. You may follow the step-by-step guides below to get started:
Approach 2: Change Monetization Setup on Existing Portal
If you would like to keep your existing API Portal settings and only modify the monetization setup, you can easily update it to Bring Your Own Stripe by following this step-by-step user guide. This guide will provide you with the necessary instructions to seamlessly transition your monetization setup while preserving your current API Portal settings.
However, it is important to ensure that the following requirements are met before transitioning your monetization setup from Stripe Connect to Bring Your Own Stripe.
1. There are NO active subscriptions
If there are active subscriptions tied to your API, you won’t be able to make changes to your monetization setup. This limitation is in place to ensure a smooth experience for your subscribers and to maintain the integrity of your monetization model.
You can check your Dashboard for the number of active subscriptions you have. Then, access the Subscription Contract to terminate the specific subscription. For detailed instruction on terminating subscription, please refer to this setp-by-step guide.
2. All API plans are with USD as transacted currency
If you have API plans that involve currencies other than USD (United States Dollar), you may encounter restrictions on changing your monetization setup. To address this, you can update all of your current API Plans to be transacted in USD only. For detailed instruction on setting subscription prices for your APIs, please refer to this user guide.
Seeking Further Assistance?
If you encounter any problem when updating your monetization setup, you may seek help from this FAQ and please don’t hesitate to reach out to us at support@fabrixapi.com for further assistance. We are committed to resolving any challenges you may face and ensuring that your API monetization setup functions smoothly.
