What’s New in Fanso V1.4
Fanso, as a company, focuses on building full-fledged software for the creator economy and favors the adult niche. In Fanso v1.4, we did some major enhancements on how the payment processing happens inside the platform to help creators.
In our previous versions until v1.3, we used Stripe Connect as the primary gateway for non-adult businesses and as an add-on, we have been integrating CCBill (US-based adult payment processor) and Verotel (EU-based adult payment processor) to power your adult subscription platform.
The creators had 2 types of revenue channels in v1.3.
Type 1 – Through recurring subscription payments
Users subscribe to a creator profile (monthly subscription or yearly subscription) via the user’s credit card, which rebills every month, generating a passive income for the creators.
Type 2 – One-off payments
One-off payments are via tipping, video purchases, unlocking newsfeed content, buying digital and physical products, buying PPV content, etc. Users will purchase virtual tokens, and from the token balance, they can spend on tipping, videos, unlocking newsfeed content, and buying physical and digital products via Virtual tokens.
Payment Processing for Non-Adult Businesses
As we are using Stripe connect as a payment processor for recurring subscription payments, Stripe Connect will split the payment between the creator and Admin.
For example; if the business owner or Admin has set a commission of 20% on the creator and a user pays $20 for a monthly subscription for that profile, the $20 will be split between creator and Admin ($16 and $4 respectively) and gets deposited to their Stripe accounts immediately.
For one-time earnings, the creators need to send a payment withdrawal request to the Admin. The Admin will pay the creator manually via offline mode (Banking/PayPal).
Payment Processing for Adult businesses
Both CCBill and Verotel payment processors offer this split payment method only if your business displays a huge volume of transactions and a minimum of 40 to 50 creators on your platform.
This was how things worked for Fanso v1.3, and we have received numerous feedback from our customers about the difficulties they’re facing. So we decided to change key areas on how payment flows in the platform.
Problems faced by our customers
The major problems faced by our customers are due to the split payments and its working. Let’s see what are the major issues our customers faced.
- Creators must connect to the payment processor and get their profile approved to process the split payments from the subscription earnings. This leaves the business idle because creators cannot post content on the platform until the payment processor approves their profile.
- If you’re setting up a business in the adult industry, the payment processors like CCBill and Verotel don’t offer split payments for beginners. You need to have a sizable volume of transactions and + a minimum of 40-50 creators on your platform for the same.
- If you’re a non-adult business, using Stripe Connect has its own drawback. Stripe Connect supports only very few first-world countries. If your creator is from a second-world or third-world country, they cannot use StripeStripe connect. As a business owner, if you don’t allow creators from second world countries / third world countries, you are missing the opportunities to grow.
Due to these limitations on the split payments, Fanso has revamped how the payment processing works inside the platform.
Now, in Fanso v1.4 – We use Stripe standard & CCbill as payment processors. If you’re planning to run a non-adult business, you can use Stripe processor, whereas if you’re an adult platform, then it is recommended to use CCBill.
How the payment flow works:
- All user payments (both subscriptions & one-off purchases) will go to the Admin/business owner.
- Creators sign up on the platform and enter their banking information to get paid.
- Creators will send a payment withdrawal request to the Admin, and Admin will make the payment to their banking account / PayPal.
- We have integrated the PayPal payment gateway in the admin backend for the Admin to process payments easily.
Here’s an account of the new features you will find in Fanso V1.4.
- Admin can post a video on behalf of the model upon subscription.
- Models can post a gallery upon subscription.
- The user can modify the shipping address after placing the order for physical products sold by the model.
- The Stripe Connect is replaced by regular Stripe, and we have included an option for the site owner to select the payment gateway between Stripe and CCbill.
- The models can request payouts through the bank or PayPal as the payment gateway is changed to Stripe regular and CCbill.
- The user waller system is implemented where the user can credit the amount to his wallet to pay for subscriptions and one-time payments in dollars ($).
- The model can post free feed posts for all users, and those who follow the model can access their feeds. Users can also follow or unfollow the models on the platform.
Some of the improvements we have made in this version are:
- A separate filter for status, verified ID, verified email, and account verification which makes it easy for the website owners to filter models.
- The old text editor for posts is upgraded to the CK editor.
- All media files, including images and videos, will now be opened on a new page.
- Added a filter to sort by active and inactive subscribers, subscription type, and dates on the model’s subscribers page.
- There is only one general commission and individual commission for all revenue streams on the platform.
- Added necessary text revisions on the platform.
- The expiration date of the subscription is listed because when the user has cancelled the subscription ,it will be available until the expiry date.
- The subscription used to get immediately canceled after the user cancels. We have now fixed it so that the subscription will remain active until the expiration date.
- Social logins weren’t working well on private browsing mode, which is fixed now.
- We have fixed mobile responsive UI issues that pre-existed.
- If the model closed the browser by mistake, it used to display live on the User’s homepage, which we have fixed now.
- Changes made by the platform owner for paid/unpaid subscription wasn’t reflecting in the front end, which has been fixed now.
That’s all about Fanso v1.4.We’ll keep you posted on the new features and enhancements. Check out the demo to experience how your subscription creation community platform works.
What’s New in V1.3
Your Fanso experience is improving as we work to release new features and squash bugs. In this version release, we’ve exclusively focused on improving the live streaming functionality and have rolled out features for models, users, and admin, improving the overall user experience.
Here’s an account of the features, bug fixes, and improvements you will find in the latest release.
Model Live streaming features
- Models can go Live from their profile by adding the title and description which can be free or pay per live for subscribers upon paying a pre-set token amount.
- Models can chat on the live streaming and earn token amounts as tips through live streaming.
- Models can filter their live streaming tip and paid streaming amount in tokens and view the numbers of users for a live stream session.
User Live streaming features
- Only users who are subscribed can watch the live streaming of a model. The users can leave and rejoin for the live streaming session.
- The users can sort the models who are live on the platform from the “Model listing” page.
- The subscribed users can watch the live for free or for a specific amount set by the model and pay via tokens to unlock a Pay Per live video.
- Users can also tip token amounts to the live streaming models and chat with models from the live streaming chat box.
- The user’s token transaction will include the token amounts of the live streaming tip and paid live streaming.
Admin Live Streaming Features
- The site owner can set the individual streaming commission against each model or set a global streaming commission.
- Admin can filter token transactions and token earnings done by streaming tip and paid streaming.
- The site owner can Configure Agora app ID and certificate for live streaming.
What’s fixed and What’s improved
Being professionals at heart, we want Fanso to be as smooth and functional to deliver the best user experience to our clients. We constantly work on software to eliminate bugs and avoid technical glitches to achieve this. This version of Fanso also has some minor fixes and improvements (Small changes but a few for the smooth functioning of your subscription business).
Some of the bug fixes for this version includes:
- The earnings of the model upon subscription were not getting raised in case of the free trial to monthly trial conversion, which is fixed now.
- On the SEO setting, when we add code to the custom header tag, it was not getting reflected, which is fixed now.
Some of the Improvements include:
- The default value of the individual commission rate against each model is set to 0 in the backend for clarity.
- Fixed code errors & documentation in Obfuscated version.
That’s pretty much what Fanso V1.3 is all about! More exciting features are awaiting you down the lane.