When you initially set up your member subscription plans, you will connect your Mighty Network to Stripe, our 3rd party payment processor. After your plans are approved and enabled, your members can purchase a subscription from you through the web, on the Android app using Android Pay, and on the iOS app using Apple Pay.
Purchases on the Web and Android App
For new members who purchase a subscription from you through the web or on the Android app, you collect payment from your members directly via Stripe, where you can link up a bank account and transfer funds into your own account whenever you choose.
Your payout from Stripe will reflect the 2.5% cut that Mighty Networks takes for all transactions that occur on the web or in the Android app, along with standard credit card processing fees.
Purchases on the iOS App
For new members who purchase a subscription from you through the iOS app on their iPhone, Mighty Networks will send your payouts to you every month.
Your payout from Apple will reflect the 30% cut of subscription revenue that Apple takes from each new subscriber who joins your Mighty Network through the iOS app. For all purchases that happen through the iOS app, Mighty Networks does not take an additional cut of subscription revenue.
If an active member has been continuously subscribed to your Mighty Network for one year through the iOS app, Apple’s cut of your subscription revenue will go down to 15% for that member. The member will see no difference in how they pay their subscription, but the revenue that goes back to you will increase from 70% to 85%.
One More Important Note
In order for Mighty Networks to offer a seamless purchasing experience across the web, iOS apps, and Android apps, all subscription plans must go through the approval process, the same subscription plans need to be available across all three platforms, and all subscription plans are subject to the fees above (including the 30% cut of subscription revenue from purchases on the iOS app that Apple takes).
If you have specific questions about how these fee structures are set up, feel free to send us a note here.