If you’re a publisher or content creator, you probably know that one of the most popular ways to earn money from your content is through a digital subscription, which can be easily facilitated by setting up a paywall on your website.
A paywall is a way of restricting access to the content on a website to paid subscribers only. Paywalls are commonly utilized by digital news publications such as the New York Times website.
The process of limiting access to exclusive content only to paying customers has been practiced by many website owners and digital publishers for years. It’s one of those features that you should take advantage of if you’re creating useful content that readers would gladly pay to have access to along with other exclusive website features.
But how do you set up a paywall on your website?
To set up a paywall website, you need to have a paid WordPress plan. Then, you can choose the type of paywall to use depending on what your website is offering.
Most digital publishers generally opt for one of three types of paywalls:
There are numerous ways to accept payment on a WordPress site. To be able to operate a paywall on your website, you have the option to choose from different plugins like MemberPress, WooCommerce, and Leaky Plugin.
You can also invest in subscription management software like MediaPass, LaterPay, or Pelcro, which gives you more control of your paywall setup. Alternatively, you can hire a software developer to embed a customized paywall on your website.
Once you have the plugin sorted, you need to find a way to collect those online payments on your website. Since you’re offering a subscription-based service, you might be categorized as a high-risk merchant. This is where you can benefit from having a high-risk merchant account and a secure payment gateway, which will help you process credit card payments conveniently.
A secure payment gateway will also make it easier for customers to pay for subscriptions on your website securely. This will help you avoid the chances of chargebacks, which could hit your business hard.
For a greater chance of approval, you need to be able to fulfill all the requirements needed by payment processors like a good credit score, good financial management, and business documents to prove that you are capable of taking care of your finances.
Even if you’re just starting out in digital publishing, a paywall website can work for you if you follow these steps and learn all about making the most out of this feature.
Depending on your goals, there are so many ways to set up a paywall to increase your revenue and provide better quality content to your community of engaged readers and followers. This will allow you to grow your business in the long run and even expand your horizon in the future.
Contact First Card Payments to learn more about the merchant services we offer and apply for a subscription service high-risk merchant account today!