I didn't have a free trial earlier, so many people signed up but didn't pay. To improve the conversion I made the free trial, but I guess it's only those who don't want to pay, who start a free trial on the highest plan thinking they will create all videos before the trial ends. Each video creation costs me money, so I set the limit to 10 videos for free trials irrespective of the selected tier. Some see 10 videos limit and don't even create 10 videos maybe thinking their strategy failed.
I guess, there's no point in losing money. But I still don't want to feel regret about not letting users try before paying and hence losing out on customers. I guess I'll set the $1 trial, so the trial starts only if the card successfully makes a $1 payment. Will do this for a couple of weeks and see.
I checked people are using different cards from different banks, except for 3 accounts that use the same cc of Adam Bino which is not their name. Mostly these are debit cards, but there are also CC that fail. Stripe reports normal risk and no theft for these cards.
I guess for debit/prepaid cards I can turn off accepting payments in Stripe? For credit cards maybe I can start charging $1 at the start of the free trial to filter fake/stolen cards.
It's surprising to me that Stripe still has loopholes.
I didn't have a free trial earlier, so many people signed up but didn't pay. To improve the conversion I made the free trial, but I guess it's only those who don't want to pay, who start a free trial on the highest plan thinking they will create all videos before the trial ends. Each video creation costs me money, so I set the limit to 10 videos for free trials irrespective of the selected tier. Some see 10 videos limit and don't even create 10 videos maybe thinking their strategy failed.
I guess, there's no point in losing money. But I still don't want to feel regret about not letting users try before paying and hence losing out on customers. I guess I'll set the $1 trial, so the trial starts only if the card successfully makes a $1 payment. Will do this for a couple of weeks and see.
I checked people are using different cards from different banks, except for 3 accounts that use the same cc of Adam Bino which is not their name. Mostly these are debit cards, but there are also CC that fail. Stripe reports normal risk and no theft for these cards.
I guess for debit/prepaid cards I can turn off accepting payments in Stripe? For credit cards maybe I can start charging $1 at the start of the free trial to filter fake/stolen cards.
It's surprising to me that Stripe still has loopholes.