Fundraise Up's Recurring Plan enhancements save you money, provide you more control, and ensure your Recurring Plans are charged predictably and optimally.
What was done?
Fundraise Up started out using Stripe not only as our payment processor of choice, but as the provider of the logic for when donations are charged. For example, when someone had a Recurring Plan, that corresponded to a Stripe Subscription, and the Subscription would be what would produce new Charges, which we would then reverse-create as the Donations for their Recurring Plan.
As the first step of our Recurring Plan enhancements, we've brought that donation handling logic for all transactions in-house. This allows us to use our machine learning model, trained on how donations generally work and how your donations specifically work, to provide better retry behavior than Stripe can with its more generalized platform, while still keeping the benefits of Stripe and PayPal's processing for actually running your donation charges.
What did I gain?
- Savings! Stripe charges .5% to manage each subscription. By managing your Recurring Plans from Fundraise Up, you will only be charged Stripe fees on each donation of the plan, rather than also being charged to house the plans themselves.
- Control! Fundraise Up now has a Settings area for how and when your Recurring Plans are handled, including control over how many installments can fail in a row before the plan stops attempting further charges. This includes the option to leave that up to our machine learning, so that we best optimize that based on past successes and other factors.
- Options! By handling Recurring Plan billing in-house, Fundraise Up is now better equipped to build further improvements like:
- including more schedule options such as weekly, biweekly, quarterly, and annually,
- offering the ability to start a Recurring Plan on a specific date,
- extending Recurring Plan payment methods to options outside Stripe such as PayPal,
- and more!
- Visibility! Your Donations in Fundraise Up now show more detailed records of when attempts to pay were tried, what happened, and if applicable, when we'll next try to take payment.
- Supportability! With more of the logic in-house, we are now able to offer faster and better support for any questions or issues you encounter around payments for donations.
When will these arrive?
Fundraise Up brought the billing logic for Recurring Plans into all Fundraise Up accounts in mid January, 2021. Subsequent related features arrived over the next two quarters.