Stripe Advanced: Usage-Based Billing & Prepaid Wallets Step-by-Step Guide

This guide details how to configure a prepaid credit wallet system, synchronize metered pricing catalog data, fund a test wallet, and verify automated recharges when usage events trigger the replenishment threshold.

---

Phase 1: Product Catalog Setup in Stripe

Step 1: Create the "Credits" Product

1. Open your Stripe Dashboard (Test Mode) and navigate to Product Catalog > Add Product.
2. Name the product Credits.

Step 2: Configure Price 1 (Metered Consumption Price)

1. Under Pricing Options, select More pricing options and click Usage-Based Pricing.
2. Set the unit price to $0.01 (or your desired price per credit).
3. Under the Meter selection, click Create new meter:
   • Meter Name: credit
   • Event Name: credit
   • Aggregation: Set to Sum (this aggregates total credits used).
4. Click Create Meter.

Step 3: Configure Price 2 (One-off Replenishment Price)

1. Scroll down and click Add another price on the same product page.
2. Set this price to a flat $1.00.
3. Choose One-off (do not make this a recurring subscription price).
4. Enter Credits for Usage in the price description.
5. Save the product to push the product and its two prices into ValStorm.

---

Phase 2: Configuration Mapping in ValStorm

Step 4: Flag the One-off Price as a "Credit Grant"

1. Switch to the Billing Workspace in ValStorm.
2. Go to Prices, locate the one-off Credits for Usage price, and click into it.
3. Edit the record, check the box for Credit Grant, and click Save. This tells the ledger that purchasing this price adds cash value to a customer's wallet.

Step 5: Configure the Usage Meter Mapping

1. In ValStorm, navigate to Usage Meters.
2. Locate the synchronized credit meter and edit it.
3. Map the meter to the Credits product and select the monthly metered usage price.
4. Click Save to ensure all incoming events know how much to charge.

---

Phase 3: Customer Setup & Subscription

Step 6: Setup Customer Account

1. Complete the sales cycle (Lead ──> Opportunity ──> Account) to ensure your customer (e.g., Baxter Inc.) is synced and carries a valid Stripe Customer ID.

Step 7: Subscribe Customer to Metered Pricing

1. In your Stripe Dashboard, go to Customers, click Baxter Inc., and select Create Subscription.
2. Add the metered Credits product price (the $0.01 usage-based price).
3. Scroll down, select Add Test Payment Method, and enter test credentials.
4. Select Automatically charge payment method on file and click Create Subscription.

---

Phase 4: Wallet Setup & Initial Funding

Step 8: Create the Billing Wallet in ValStorm

1. On the Baxter Inc. Account page, click through to the Billing Wallet related list and click Create.
2. Configure the wallet:
   • Name: wallet
   • Usage Meter: Select your mapped credit meter.
   • Replenish Price ID: Select Credits for Usage.
   • Replenishment Amount: Set to 200 (this is the top-up amount).
   • Replenished Threshold: Set to 50 (this triggers the top-up when balance falls below $50).
3. Click Save (the wallet's remaining balance will start at $0.00).

Step 9: Fund the Wallet (Initial Deposit)

1. Go to your Stripe Dashboard, navigate to the Baxter Inc. profile, and click Create Invoice.
2. Add the flat Credits for Usage price and set the quantity to 200 (total invoice of $200.00).
3. Scroll to the bottom and click Charge Customer.
4. Return to ValStorm, open Baxter's Billing Wallet, and verify that:
   • The Remaining Balance has jumped to $200.00.
   • A ledger record is created in the Credit Grants related list.

Step 10: Turn on Auto-Replenishment

1. On Baxter's Billing Wallet page in ValStorm, click Edit.
2. Check the box for Auto Replenishment and click Save.

---

Phase 5: Simulating Usage & Auto-Recharge Triggering

Step 11: Record First Usage Event

1. In ValStorm, navigate to the Usage Events tab and click Create.
2. Configure the event:
   • Account: Baxter Inc.
   • Billing Wallet: Select the Baxter wallet.
   • Usage Meter: credit
   • Quantity: 1,000 (representing 1,000 credits used).
3. Click Save.
4. Open the Billing Wallet and verify the balance has dropped to $190.00 (1,000 credits x $0.01 = $10.00 deduction).

Step 12: Record Second Event to Test Proximity

1. Create another Usage Event for Baxter's wallet with a quantity of 6,000 credits.
2. Click Save.
3. Verify the wallet balance has dropped to $130.00 ($60.00 deduction).

Step 13: Trigger Auto-Replenishment (Cross the Threshold)

1. Create a third Usage Event for Baxter's wallet with a quantity of 9,000 credits.
2. Click Save.
3. The $90.00 cost drops the balance to $40.00, which falls below your $50.00 replenishment threshold.
4. Open your Stripe Dashboard, go to Invoices, and verify that a new invoice for $200.00 has automatically been generated, charged, and paid for Baxter Inc.
5. In ValStorm, verify that Baxter's Billing Wallet balance has jumped back up to $240.00 ($40.00 remaining balance + $200.00 top-up).