Subscriptions and plans are essential components of a business model that enables companies to offer their products or services to customers on a recurring basis. This page covers the relationship between subscriptions and plans, how they work together, and how they benefit businesses and customers.
To facilitate the subscription process, businesses create plans. These plans are a comprehensive framework detailing what customers can expect as part of their subscription. They specify the product or service, payment schedule, and any supplementary terms and conditions. Subscription plans are vital in maintaining uniformity and transparency in the subscription services offered.
The relationship between subscriptions and plans can be summarized in the subscription lifecycle described below.
As described by the steps above, the subscription depends on a plan's existence. The businesses use plans as the foundation to provide subscription options for customers.
The subscription creation process on MoneyHash is broken down into two distinct steps. First, you need to create a plan to offer your customers. Then, when the customer chooses to subscribe to a plan, you will create a new subscription for each user. To learn how to accomplish each of the steps and how to manage plans and subscriptions, access the following pages:
Updated 3 months ago