Quote:
Originally Posted by JasonCollins
Good luck with this! 
We have rejected adult crowdfunding sites in the past because the platform and/or conditions were not well written. One of the biggest drawbacks to many of these platforms is, what happens to the cash if the project does not reach its goal? A lot of them surprisingly think that they still keep the cash leaving the investors without a product. This will turn into a chargeback magnet in no time. |
I haven't had an opportunity to experiment with recurring payments in this way (to see if it would actually work), but this is how I would handle it:
- You specify the length of the crowdfunding period (30 days, 45 days, etc.)
- When a supporter "pays", the system sets up a recurring payment to happen only once, and sets the first payment date at [the length of the crowdfunding period] + 1 days
- When the crowdfunding period ends, if the goal wasn't achieved, you cancel the recurring payments before they happen the following day
- If the goal is achieved, allow the "one time recurring" payments to happen the following day. Sure, a few cards might have expired or maxed out in the interval, but the project is likely to get most of its funding
I might also follow Offbeatr's lead and take a small, non-refundable project registration fee to discourage scammers or people who aren't serious about producing the end product.
The rest is just window dressing and UI/UX.