Stripe yearly subscription with monthly payments

Question

We have 1 product, a magazine, working on a saas principle. we have 2 pricing:

• monthly plan: you pay on a monthly basis and you can stop anytime
• yearly plan: you pay on a monthly basis but you can't stop before 12 month

How do I set up the yearly plan properly on Stripe?

For now, in Stripe, I have my 2 pricing and the yearly plan only displays the yearly price, but I want my customers to pay monthly that yearly price.

Answer 1

For your yearly plan, the subscription is paid on the monthly basis, so it will be considered as monthly plan. Stripe yearly plan/price will only be charged on yearly basis, i.e. once every year.

The subscription won't be stopped unless your system cancels/updates it. You may create a new monthly price to charge the customer with a different monthly amount for a yearly plan. Your system should have logic to check that the customer with such a yearly plan can't modify their subscription.