Have you considered using a points system to boost user engagement and make money? Selling points brings in profit while increasing user activity. myCred lets you award digital points when users post, comment, and share content.
But points can go further when you let users convert them into cash! But how?
Using myCred’s premium addon – Stripe – buyCred Gateway (buyCred)!
This blog covers tips for making buyCred and Stripe work to create point marketplaces. Follow along to learn how selling points lets you profit from driving actions users want. With the right setup, points can be converted into cash that can be withdrawn via Stripe.
Why Convert myCred Points into Stripe
Selling points through buyCred generates revenue while enhancing user engagement:
⦁ New Monetization Stream: Points purchased convert directly into profit since they cost nothing to generate. Popular packages like bonus points on sign-up easily offset admin costs.
⦁ Unlock Gated Features: Users pay to access premium site features or content customarily locked. For example, unlock ad-free browsing, early product releases, and exclusive forums.
⦁ User Funds Actions: Users pay points to redeem site abilities like promoting posts, gifting awards, and winning contests. This incentivizes purchases to keep participating.
How Stripe – buyCred Gateway Works
Stripe handles payment processing securely. buyCred listens for completed payments and then awards appropriate points. Steps include:
⦁ Users pick a point pack/feature to purchase
⦁ Stripe checkout modal collects payment
⦁ On success, hook fires to myCred
⦁ myCred awards purchased points or enable gated access
This makes buying easy while guaranteeing points delivery only on successful payment.
Best Practices For Point Sales
Follow UX and strategic best practices when selling points:
Streamlined Checkout
Minimize steps to purchase. Stripe Elements provides pre-built, customizable checkout UIs that handle payments inline, avoiding redirects.
Display Pricing Prominently
Showcase pricing models – hidden costs annoy users. Consider a homepage pricing table detailing packs and bonuses.
Offer Bonus Points
Incentivize bulk purchases via bonuses like 10% extra points. This increases average order value from users buying more to maximize perks.
Limit Special Offers
Scarce deals prompt impulse buys for discounts, like 20% off points this weekend only. However, avoid conditioning buyers to purchase only on constant sales.
Make Points Transferable
Let users gift purchased points. Allow tipping points to content creators. Point transfers drive viral engagement and recognition.
How Stripe – buyCred Gateway is Helpful in Points to Cash Mechanism
buyCred supports a points-to-cash mechanism. You can purchase points and subscriptions through Stripe’s Checkout script.
Features of buyCred
Syncing With Stripe: A no-brainer! Streamline your customer management and credit card processing by integrating the buyCred Stripe addon with your Stripe account.
User-friendly: Personalize the key elements of your payment page – titles, descriptions, and payment buttons – with ease and efficiency. You don’t need any coding knowledge. Customize your payment page elements to match your brand and voice, all within minutes.
Switching Subscriptions: You can enable subscribers to seamlessly change their subscription plans with the help of a convenient shortcode.
How To Setup Stripe – buyCred Gateway
To install buyCred, you first need to install myCred.
First, you have to search “myCred” in the WordPress Dashboard
Then Click “Install Now”
And then “Activate.”
How to Install Stripe – buyCred Gateway
To install the buyCred addon, follow the link here.
Last Word
myCred X Stripe offers massive potential for monetization, engagement, and innovation. Smooth inline payments enable you to offer creative incentives spanning points sales, feature access, and virtual actions. Configuring Stripe – buyCred Gateway securely transmits payments into your Stripe account. Install buyCred and master the points-to-cash mechanism.
