How to Monetize APIs: Adding a Paid Plan in Amplify Enterprise Marketplace

👉 Watch the full demo of Amplify Enterprise Marketplace: https://go2.axway.com/NA-WBN-2024-09-17BuildingyourAPIMarketplace_LP-AX-Registration.html?utm_source=youtube&utm_medium=social&utm_campaign=api_marketplace_gc&utm_content=marketplace_demo_clips In this demo clip, Senior Solution Architect Vincent Belfoure walks you through the process of setting up a direct monetization plan for your API product in Axway's Amplify Enterprise Marketplace. Watch to see how easily you can start monetizing your APIs and streamline subscription management. 💡 How to add a pricing model to your API product 🛠️ Choosing between different quota and plan types 🔑 Automating or manually approving subscriptions 💸 Read Vincent's blog on how to set up billing integration for your API marketplace: https://blog.axway.com/product-insights/amplify-platform/enterprise-marketplace/billing-integration-api-marketplace?utm_source=youtube&utm_medium=social&utm_campaign=api_marketplace_gc&utm_content=marketplace_demo_clips Transcript: I have this Logistics Management API product that I've been using for some time, and I want to be able to add a monetization plan to this product. Here, I can see the APIs that are contained within the product. Let me navigate to the plans. But we can see that there is already a free plan here that has been active for some time. But what I want to do is add a new one and add a pricing model to it. So let's give this plan a meaningful name. Now I will select the type of plan that I want to configure. Here, we are interested in a paid plan, so I will select paid. I will leave the currency at US dollars. I can optionally set a one-time startup fee for your initiation to this product plan. I will set that at $10 for now. And let's say that we will charge $50 per billing period, and I will set the billing period to 1 month. And also, I will allow this subscription to auto-renew at the end of the period. So at the end of every billing period, it will become active. Yep. I can now decide which APIs that I want in the in the pricing plan and what I want the plan to look like. So, again, let's look give this quota a meaningful name. And now I can choose what type of quota I would like this to be. I have the option between standard, tiered, where I can pick different prices for different usage levels, or pay-per-use, where I can charge per transaction. In this case, I'm going to leave it at standard, and I can now choose the unit of transactions and how many transactions I'm going to allow during that period. So let's say I will give you 100,000 transactions per month for that $50 fee. I can also select the limit type that I would allow here. Strict means that at the end of this quota, if you have reached your 100,000 transactions within the time period, access to these APIs will be cut off. I can also choose Loose, which can allow you to do things like charging overage if you have gone over the 100,000 transactions. So I will leave this as Strict for now. And now I will choose which APIs that are in this product that I want to apply this pricing model to. I will select all of them and assign them to the plan. Choosing next, I now have the option of deciding if I want the approval to the subscription to be manual or automatic. What this means is when a consumer enters the marketplace and asks to subscribe to this product, do I want the platform to automatically approve those subscriptions? Or do I have some sort of manual approval process in place that needs to either flow through some external approval process or be manually handled by a human? I can choose this option. For now, I'm going to leave it at Automatic. And I also have the option to add custom fields to the subscription subscription request if I need to collect additional information from the person who is making this request. Yep. I I have the option to tag and add attributes to the subscription. I'm going to leave that alone for now, and we will save it. We now see that we have this Enterprise plan and it is in the draft state. The next thing I need to do is activate this plan. So once the plan is active, yes, I do want to activate it. It is now live and in my marketplace. So if I navigate to my marketplace tab here, we can see the products that I have. Logistics Management is the one we were just working with. So if I click here, I can see that that new plan is now available to me, and I can see that it does have the startup cost and the per month cost. If I view the details, I can see that for that price, I will get 100,000 transactions per month and these are the API services that I will have access to once I have completed my subscription. Learn more about API monetization models: https://blog.axway.com/learning-center/apis/enterprise-api-strategy/api-monetization-models?utm_source=youtube&utm_medium=social&utm_campaign=api_marketplace_gc&utm_content=marketplace_demo_clips #APIMonetization #AmplifyPlatform #MonetizeAPIs #APImarketplace