If you’re looking to create and sell online courses, you’ve probably heard of Thinkific and Stripe. Thinkific is a powerful online course platform enabling you to easily create, market, and sell courses. Meanwhile, Stripe is a leading payment processing platform that allows businesses to accept payments from customers worldwide. But did you know that Thinkific integrates seamlessly with Stripe to make it easy to accept payments from students all over the globe?
By integrating Thinkific with Stripe, you can set up a secure and streamlined payment processing system that makes it easy for your students to pay for your courses. Whether you’re offering courses in one country or many, Thinkific Stripe provides various payment options and advanced security features to keep your transactions safe.
This article will look at how Thinkific and Stripe work together to create a powerful online course and payment processing platform. We’ll also explore the benefits of using Thinkific Stripe and how to set up and accept payments with this powerful duo.
The Benefits of Integrating Thinkific and Stripe
One of the main benefits of using Stripe as the payment gateway for your Thinkific content is that it enables you to create a powerful online course platform with advanced payment processing capabilities. Here are some of the benefits of using Thinkific & Stripe:
Streamlined payment processing: Thinkific Stripe makes it easy to accept payments from students worldwide, with a range of payment options and support for multiple currencies. You can focus on creating and selling your courses without worrying about complex payment processing systems.
Advanced security features: Thinkific Stripe also has advanced security features that help to protect your transactions and keep your student data safe, including PCI compliance, two-factor authentication, and fraud detection tools.
Seamless integration: Thinkific and Stripe are designed to work seamlessly together, making it easy to set up and manage your courses and payments all in one place, helping to save time and improve efficiency, enabling you to focus on growing your business.
Access to powerful analytics: By integrating Thinkific with Stripe, you also gain access to various powerful analytics tools that track your course sales and revenue in real-time. This can help you to optimize your courses and marketing strategies and make data-driven decisions to grow your business.
Businesses across industries have successfully used Thinkific and Stripe to create and sell online courses. For example, wellness coach Rachel Barber has used Thinkific Stripe to create a successful online course business that teaches people how to improve their health and wellness. Another example is photographer Christina Greve, who uses Thinkific Stripe to sell online courses that teach people how to improve their photography skills. By integrating Thinkific with Stripe, businesses like these can create a powerful platform that enables them to easily reach students worldwide and grow their businesses.
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Setting Up Thinkific & Stripe
Setting up a Thinkific Stripe account is a straightforward process that can be done in just a few simple steps. Here’s a complete step-by-step guide on how to set up a Thinkific Stripe account:
Step 1: Sign up for a Thinkific account
If you haven’t already, the first step is to sign up for a Thinkific account. You can choose from various plans depending on your needs, with different pricing and features available.
Step 2: Connect to Stripe
Once you’ve signed up for your Thinkific account, the next step is to connect to Stripe. You can do this from within your Thinkific account settings by clicking on the “Payments” tab > Card processing > Stripe > Connect Account.
Take note that you must already have a Stripe account as well to be able to achieve this step. You can sign up to Stripe first and follow as instructed if you haven’t made one.
Step 3: Set up your payment options
Once connected to Stripe, you will see a “Connected” badge to signify that the integration has been verified. Thus, you can set up your payment options. You can select which payment methods you want to offer (such as credit cards, PayPal, or Apple Pay) and which currencies you want to accept.
Step 4: Test your payment system
Before accepting student payments, it’s important to test your payment system to ensure everything is working correctly. You can do this by making a test purchase of your course and ensuring that the payment is processed correctly.
In addition to setting up your Thinkific-Stripe integration, a range of options are available for accepting payments through Thinkific. These include:
- One-time payments – This is the most straightforward option, where students pay a one-time fee to access your course.
- Subscriptions – With subscriptions, students pay a recurring fee (such as monthly or yearly) to access your course content.
- Payment plans – Payment plans allow students to pay for your course in installments, which can help to make your courses more accessible and affordable.
By understanding these different payment options and how to set up your Thinkific Stripe account, you can create a powerful and flexible payment processing system that meets your student’s needs and helps grow your business.
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Accepting Payments with Thinkific & Stripe
Accepting payments in Thinkific via Stripe is a straightforward and flexible process that enables you to easily and securely process transactions from students worldwide. When students sign up for your course, they will be taken to the checkout page, where they can select their preferred payment method and enter their payment information.
Stripe will then process the payment, using advanced security features to protect the transaction and ensure that the student’s data is kept safe. Once the payment has been processed, the student will be granted access to your course content, and you will receive the funds in your Stripe account.
By offering the following payment options through Stripe, you can make it easy and convenient for students to purchase your courses, no matter where they are located or what payment methods they prefer. Here’s a more detailed explanation of how students can pay for courses through Stripe:
- Thinkific Stripe supports payments via all major credit cards, including Visa, Mastercard, and American Express. Students can simply enter their card details on the checkout page to complete their purchases.
- If you want to offer PayPal as a payment option, you can easily set this up within your Thinkific Stripe account. Students can then select the PayPal option on the checkout page and complete their purchase via their PayPal account.
- For students using Apple devices, Thinkific Stripe also supports payments via Apple Pay, enabling them to complete their purchase with just a few clicks, using their stored payment and shipping information.
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Stripe Transaction Charges
One important factor to consider when using Stripe is the fees associated with the platform. When you use Stripe to process payments, you will be charged a transaction fee on each sale. The fee is typically a percentage of the sale price, with the exact percentage varying depending on the country where the transaction takes place. For example, the US, the fee is 2.9% + $0.30 per transaction.
In addition to transaction fees, you may also be charged a payout fee when transferring funds from your Stripe account to your bank account. This fee is typically a flat amount per transfer, with the exact fee varying depending on your location and currency.
While the fees associated with Stripe may seem high, they are in line with other popular payment processing options, such as PayPal and Square. Stripe may be a more cost-effective choice in some cases, particularly if you are processing a large volume of transactions.
Overall, while it’s important to be aware of the fees associated with using Stripe along with Thinkific, it’s important to keep in mind the platform’s value in terms of security, convenience, and ease of use. By choosing a reliable and effective payment gateway like Stripe, you can help to ensure that your online business is successful and sustainable over the long term.
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Security and Fraud Protection with Thinkific & Stripe
Security and fraud protection are crucial considerations for any online payment processing system, and Thinkific and Stripe are no exceptions. Here’s what you need to know about the security measures in place:
- Fraud protection – Thinkific and Stripe use various advanced fraud detection and prevention tools to ensure that transactions are safe and secure. These tools include machine learning algorithms and real-time risk analysis, which help to identify and prevent fraudulent activity.
- Data security – In addition to protecting against fraud, both platforms also take great care to ensure that student data is kept secure. The platform uses various security measures, including encryption and tokenization, to protect sensitive information like credit card numbers and personal details.
- Compliance – Thinkific and Stripe fully comply with various industry standards and regulations, including PCI DSS (Payment Card Industry Data Security Standard) and GDPR (General Data Protection Regulation). These compliances mean you can be confident that your payment processing system is secure and legally compliant.
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Thinkific Stripe Integration – Conclusion
In conclusion, integrating Thinkific with Stripe to accept international student payments is an excellent choice for businesses and entrepreneurs looking to create and sell online courses. By using Thinkific’s powerful course creation tools and Stripe’s reliable payment processing capabilities, course creators can easily build and sell engaging courses to learners around the globe.
With plenty of benefits, including easy setup, competitive pricing, and robust security and fraud protection measures, it’s no wonder that many successful businesses and entrepreneurs have already embraced this powerful combination. If you’re ready to take your online course creation and sales to the next level, Thinkific and Stripe are the tools you need to succeed!