Stripe: the easy solution to get paid by your coaching clients with credit card
Sure, you can sign up for a pricey shopping cart or checkout platform, but you don’t need to. I’ll show you exactly what you need to do within Stripe to get paid for your coaching services—no matter if you want to accept payments in full, in instalments or on a subscription basis. I’ve got you covered.
WATCH THIS how-to video AND YOU'LL LEARN:
...where to sign up for Stripe and how to access the dashboard.
...the two sections you must keep up-to-date at all times (they’re easy to miss!).
...the steps you should follow to a T if you want to get paid in full with credit card.
...the big change Stripe made and the neat workaround you can put in place to still accept payments.
...the two-step process that allows your coaching clients to pay for your services in instalments or sign up for a subscription with you.
Imagine how easy it’d be to accept credit card payments during or at the end of a discovery call... And the only thing you need is one tool that doesn’t cost an arm and a leg. Running a coaching business can’t get any easier if you apply the little hacks I’m sharing with you.
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Accept payments with stripe
I bet you're here because you're looking for a way to accept payments with Stripe without the need to have a pricey checkout or shopping cart platform like SamCart, BigCommerce, or Shopify in place. And I get it, accepting money through PayPal isn't your thing either. Am I right? Well, you're in the right place. But before we dive in, I want to clarify what this video is all about. Back in the day, you could enter the credit card details of your clients directly, for example, when you were on the phone with them and initiate the charges via the Stripe dashboard. Well, that's no longer possible because Stripe disabled the ability to enter credit card details directly into the Stripe dashboard as those charges are deemed PCI noncompliant and not secure. PCI stands for Payment Card Industry if you're not familiar with this terminology. Sure there's a techy solution to enable it by integrating your website with Stripe Elements,
however, that's not what this video is about. I'm techy but not sooo techy. So in this video, I'm going to show you a neat workaround how you can still get paid by your clients with credit card by just using Stripe and no other tool or app. Are you ready? I'm Sabine Biesenberger, by the way. If we haven't met yet, welcome to my YouTube channel, where I share everything marketing and beyond to help you grow your coaching business. And if you're already part of my community, welcome back. I'm thrilled you're here. Let's hop over to stripe.com. If you haven't applied for a free account, yet this is the time to fill in the application. Just make sure that you check beforehand that Stripe is available in your country and for your type of business. You can find Stripe's restrictions on their website. And also when I say free, I mean that the Stripe account itself is free.
However, you need to pay a fee per transaction. Again, all the details can be found on Stripe's website. Then go to "Sign in" and once logged in, let's get two things checked. Firstly, scroll down to the "Developers" section to ensure that you have the most current API version. If you need to, update it. Secondly, let's check that your account settings are all up to date. To do that, click "Settings", take some time to go through all of these sections and update or complete the details as required. Also, check the "Subscription and emails" and "Invoice template" sections here. Because the last thing you want is to have an incorrect bank account linked to Stripe or confirm a payment with a receipt that is generic or incomplete. Or even worse, send reminders to your clients when everything is already paid. All done? Good. Let's move on now to the more exciting stuff - how to accept payments. But before we do that, I'm curious, have you used Stripe before or are you a new user? Let me know in the comments below. I can't wait to read your comment. Over to Stripe again. To get paid by a client with credit card, click "Billing", then "Invoices" and then head over to the right-hand side and click the "+ New" button to set up a new customer. A drop-down menu opens up, click "+ Add new customer" and in the popup window complete the details. Let's go with a fantasy customer here.
In the "Description", this is just for internal reference, let's go with 1:1 Life Coaching Client. The "Billing information", you can either check or uncheck this tick box here. If you keep it checked, all the information will go to firstname.lastname@example.org in our example, but if she has a different email address, you can type it in here, and you can even add more recipients. Then let's move over to the "Billing details" and complete that one quickly. Once done check if the "Shipping details" are the same as the "Billing details". Then choose the "Language"
and now be aware that if you select a "Currency", this currency is actually locked in and cannot be changed for this specific client, not for your entire account, for this specific client. So in our case, let's go with USD. If you want to add something before in your invoices, you can do that here. You can select if it's "Taxable", "Exempt" or a "Reverse charge". Let's go for exempt in our example here. You can add in some "Tax ID" and other IDs and once finished, click the "Add customer" button at the bottom. Now, add your "Item" description here, the "QTY", the "Price", and apply any coupon that you have or any default tax. So let's quickly do that.
Let's go with a price of 2,500 Dollars. Let's go with no tax because it's an international sale. Now here in this section, and that's kind of very important, I always recommend that you write a sweet message into this "Memo" box here to humanise your invoice. Now apart from thanking them for signing up with me, I add something along the lines of when making the payment you agree to my terms and conditions and I add the URL or link to the respective page in there too. Now if you want to have exactly the same sentence in all your invoices, make sure to use the "Invoice template" under "Settings". Now, let's scroll down to the "Payment method" section here. And here's really the change that I was referring to at the beginning of this video. Because in the good old days you could select "Automatically charge a payment method on file" and then enter the credit card details of your client to initiate the charge.
Nowadays, Stripe disabled this feature by default, and you need to contact their support. You won't just get this feature enabled though as there are a bunch of compliance-related things linked to it together with implementing a techy solution. So. I'd go with the selection I'm showing you right now, and that is this one here. Tick "Email invoices to the customer to pay manually", check that the "Payment due" date is one you want - it could be one day, it could be immediately, it could be three, seven, 30 days, whatever works for you. Then on the "Invoice payment page", I always tick this box here saying "Include a Stripe-hosted link to an invoice payment page in the invoice email" so that people really can pay you with credit card. Once done, click the "Manage" link here and make sure that the "Credit or debit card" section is on or activated here and all the others are deactivated.
Once you're happy with it, click "Close". Now let's scroll down to the "Advanced options" and click the little arrow here to see what's in there. You can "+ Add custom field" to your invoice or an "Invoice footer". As I didn't have a chance to include my ABN somewhere else, I include it here in the invoice footer. You can obviously add whatever you want. Once you're happy with it, go up to "Preview", click it, check that everything is spelled correctly, that you have the right amount in there and once you're happy, click "Close" and "Send invoice" over here. Now your client will receive an email which looks like this. When clicking the link, they can enter their credit card details from their end and woohoo the money is on its way to Stripe and your linked bank account. Not bad, hey? But what if the client wants to pay in instalments or sign up for a subscription? No problem. I'll show you how now. On the Stripe dashboard overview page, click "Billing", then "Products" and "+ New" over here, because you need to create a new product, which is slightly different than if we just send an invoice and the client wants to pay in full. Now here, this will appear on the checkout of the customer's receipt, so be very explicit what you write in there. [Typing]
If you want to, you can add a "Unit label" or put a "Statement descriptor" in there. Now I'm happy with what I've typed in here, so let's click "Create product" down there.
Next, we set up the pricing plan for it. You can see that this is the "Plan nickname" and I'm okay with that. So let's assume that our fee would be 1,000 Dollars per month paid over a three-month period. So I type in as a nickname monthly 1000 and select "Recurring quantity", which doesn't really make sense, but let's assume that each coaching month would be one quantity. Then it's the "Currency" here... Now, as I mentioned beforehand, we set up our customer in USD, so we cannot set the currency here in AUD. You always need to align it or simply create multiple products if you work with different currencies. So for the sake of consistency, we choose USD here as well. Then "Does this pricing plan have multiple price tiers based on quantity"? It's no, and then "Price per unit", which means in our case per month would be 1,000 Dollars, and you can see, you can choose "per unit" or "per group of", so I'm happy with "per unit". And the "Billing interval" monthly is what is by default selected, but you can choose daily, weekly, every three months, yearly custom and so on.
If you want to add a "Trial period", you can do it here and then in the "Preview" down here, you can see that "A customer subscribed to 1 unit will be billed 1,000 Dollars monthly at the beginning of each period". When you're happy with everything, click "Add pricing plan" down here.
Let's give the system a couple of seconds to get this done. You can see now you've set up your subscription in the product section. But now we obviously want to bill our new customer with the instalment plan or the subscription. So to do this we go over to "Subscriptions", click "+ New", and you can see this looks pretty similar than the one for the what I call the full payment. Now in the drop-down menu, you can either click "+ Add a new customer" and do the entire setup, you know like all the billing details and language and the currency. But for the sake of this activity, let's go with our "Jane Test" client. Now here, if you click "Find a product...", you'd choose the subscription product you just set up, which is our life coaching package for 1,000 Dollars a month. When you click the little three dots here, you can see that you can "Add product tax" or "Remove product", and here you have links to add a product, coupon, default tax, or a trial.
Now let's move down to the "Payment method" and let's click "Email invoices to the customer to pay manually". Again, fill in the "Payment due" date, ensure that this checkbox is ticked, click "Manage" and ensure that the "Credit or debit card" is activated. Once happy, click "Close". Scroll down, check that whatever you want in the "Memo" to be in there that it's in there and in the "Advanced option" you can add whatever you want again like "+ Add custom field" or an "Invoice footer". Once you're happy with everything, click "Schedule subscription". Here you can actually choose a start date for your subscription, like start immediately or start on the first of next month or start on a custom date and the end date like never, after a specific number of cycles or on a custom date. As we want to create an instalment plan for a three month period, we need to select end after a specific number of cycles, and as it's three months, it would be three.
Once you're happy, click "Schedule subscription" and please be aware that the moment you actually press this button, the invoice will go out to your clients, so you need to make sure that everything is correct. Now, let's click it, give it a few seconds, and you can see that the subscription is scheduled down here. And if you want to "View" it, just click the button. Here you can see what we actually sent to Jane. Now, should you have made a mistake in here, you have approximately one hour time after you hit that start subscription button to either cancel it or redo it or change something. Now to do that, click the three little dots here and click whatever you need to do. Now in my case, because I don't really want to send that test email, I click cancel now and I confirm it, and you can see the subscription has been cancelled. Now you know how to accept payments with Stripe without the need to purchase any other app or tool. You're welcome. If you liked this video, please subscribe to my channel, give this video a thumbs up and share it with your friends or peers. As always, I appreciate you being here and watching my video and if you want to check out my other videos here on YouTube, how about starting with these ones over here? Bye for now and I'll see you in the next one.
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