Payment Plans are helpful in letting users pay the full amount in various deposits after specific intervals.
- Go to Products > Payment Plans to add different payment plans. Create a payment plan under the ‘Add Payment Plan’ column. The created plan will appear under ‘Existing Payment Plans’, where you can edit or delete the plan.
- Let’s create a new payment plan. We will create a 15 days plan where users will pay 30% of the amount while placing an order, 50% after 5 days and remaining 20% after 10 more days. Add a name & description for the plan.
- Under Payment Plan schedule, select 30% payment amount in the first field which will be paid by the users immediately. Click on the ‘+’ button to add next schedule.
- Now select 50% payment amount and 5 Days interval. Click the ‘+’ button.
- Select 20% payment amount and 10 Days interval.
- Click on Save plan. The plan will be displayed under ‘Existing Payment Plans’. Add this plan in the global or product settings to let the users select it.