API Monetization

Generating revenue is one of the most important things while hosting APIs. A simple and easy way to configure what API to monetize and how to do it would go a long way in helping tackle revenue streams much easier.

We can measure and analyze the API usage data through analytics and generate reports. This allows us to track who is calling the APIs, how often the call has been made and charge application developers according to their usage.

In Fiorano API management, an API is monetized when it has the Monetization Limit Check policy enabled. The monetized project needs to be added in Products which is a bundle of APIs. Flexible rate plans can be defined for these products.

Fiorano API manager provides an option to download monetization report over a period of time. These reports provide summaries and more details on traffic for API product packages that developers have purchased.

Monetization Limit Check Policy

A monetized API is not effective unless a Monetization Limits Check policy is defined for an API. Configuring Monetization Limits Check policy helps in enforcing rate plans defined for the APIs. This policy is triggered in cases like when a rate plan is expired or when transaction volume exceeds the limit set in the rate plan or other such cases.

Transaction Recording Policy

Transaction Recording policy defines rules that are used to determine which API calls are determined to be a transaction for monetization. For example, if the "response.flow" variable has a value of "OK", that counts as a transaction.

Thus, transaction recording policy enables monetization to capture transaction parameters and custom attributes. Monetization needs this information to perform its monetization processing such as applying rate plans. This policy can be added to a product.

Rateplan

Rate plan describing how much to charge developers subscribed to the APIs, how long these charges are effective, how many transactions can be free of cost etc., can be configured in many flexible ways.

Refer to the API Monetization section.