Explore how to establish products and prices, personalize prices to customers, process payments, and utilize the retry feature.
Products and prices are the main points for a Solidgate subscription. Products define what your business offers, whether that’s goods or services, while the pricing structure determines how often charges for these products occur. Prices, on the other hand, determine how much and how often to charge for these products.
Before you start
The Solidgate HUB is a user-friendly interface that allows merchants to create and configure products with subscription rules in just a few clicks.
The process of setting up a subscription product starts with the creation of the product in the HUB. During this process, the merchant must specify the details of the product, such as its name, description, pricing, and subscription rules. The system then automatically generates a unique product identifier, referred to as the product_id , which serves as the identifier for the product in all future subscription operations.
Once the product is created, the merchant can use the product_id to create subscriptions for the product. The price difference can vary for different currencies and locations. Additionally, the merchant can create orders with a subscription, which allows customers to subscribe to the product and make recurring payments automatically.
Solidgate's retry strategies recover revenue and reduce churn by customizing retries and discounts for failed subscription payments. retry strategies for failed subscription payments help merchants recover revenue and reduce involuntary customer churn rates by customizing retry intervals, discounts, and other features based on the customer and payment method.
Currency selection in Solidgate allows merchants to offer their products in multiple currencies, catering to customers from different locations. This feature enables merchants to add various currencies for specific locations, making it easier for customers to make purchases in their preferred currency.
To add a currency to a product in Solidgate:
- Open the product details by clicking on the desired product.
- On the product details page, click the “Add currency” button to open the options menu.
While adding a currency, merchants can choose:
- Currency: This option enables merchants to select from all the available currencies connected to their account.
- Location: Merchants can choose one or more locations corresponding to the selected currency. For example, if “euro” is chosen as the currency, all Euro area member countries can be selected.
Access Solidgate’s multicurrency history by opening the “Product currencies and locations” list that showcases all added currency options.
In this list, merchants can edit existing currency options or delete them as needed.
The key goal of currency selection in Solidgate is to enable merchants to cater to a global customer base by offering products in multiple currencies. This, in turn, enhances the shopping experience for customers from different regions.
Editing existing products and prices
The ability to edit an existing product and price in Solidgate depends on whether the product and price have an
active subscription or not.
If the product and price do not have an
active subscription, you have the flexibility to change all fields associated with them. This means you can modify the description,
Solidgate provides a feature of smart retrying failed subscription payments, which helps our merchants to recover revenue and decrease the involuntary churn rate of the customers. retry strategy , public description, settle interval, and any other relevant details.
However, if the product and price have one or more
active subscriptions, there are some limitations on the fields you can modify. In this case, you can only make changes to the following fields:
- Description: You can update the description of the product or price.
- Retry strategy: You have the option to modify the retry strategy associated with the active subscriptions.
- Public description: You can make adjustments to the public description of the product or price.
- Settle interval: Changes to the settle interval, which defines the time between settlement periods, can be made.
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