Management of payments by term and installments in WooCommerce

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Being able to add a product in installments is one of the most attractive ways that the customer takes into account when buying online. This is a good way of recruiting.

You, as the owner of a store, are offering the customer a product or service that they need urgently, on a whim or need with the incentive of being able to pay for it in installments.

Through the management of your you will be able to create a payment system by installments in a simple way. You decide how many the installments will be and how often they will have to be paid.

If your products cost less than €30, perhaps you are not interested in establishing this deferred payment system, but if we are talking about large amounts, it is a very interesting option that you have to take into account to apply to your online store.

Why is the management of payment by installments interesting?

For many people it is more comfortable to pay €50 for three months than €150 all at once.

This way of empathize with the customer It is extremely important to understand our business. Offering customers the ability to pay in easy installments is a profitable system that will enhance the conversion of your online store.

This way of working is very interesting for both the client and the store owner, since it achieves:

The customer buys a product that under normal conditions he would not acquire it due to its high price or due to the obligation of having to pay the entire amount at once.
that the owner of the business get a sale which could be difficult with other conditions.
What in buyer’s memory is presentwhile the payment period lasts, the company’s brand can, through this message, create in it a new need to buy in the near future or during the same current payment cycle.

To establish this much-needed system in digital stores, nothing better than using the WordPress CMS and its plugin for WooCommerce online stores.

In a few minutes you will have this sales system implemented in your eCommerce.

Go for it.

Sell in installments with the WooCommerce Subscriptions plugin

We already talked about this plugin when we discussed the . The difference between recurring payments and deferred payments is as follows:

- Recurring payments: a subscription system is created in the store where the customer pays a monthly, half-yearly or annual fee every month to enjoy a service or product (for example Netflix, membership courses).

deferred payments: a product or service will be paid in X times for the financial comfort of the client, without further ado.

In this case, the same plugin can be used for both tasks, although for the deferred payment system that we are going to see, it is necessary to acquire the Premium version, as we are going to explain.

Configure the plugin for installment sales

The configuration is very easy as I say, and it is done in a few steps. As always you have to go to plugins – add plugins and in the WordPress repository search engine write down “WooCommerce subscriptions”.

Once installed and activated you enjoy several options. You will not need to do anything in the configuration, you can directly go to edit the product.

We are going to see how it is done in a practical way (you also have this video in case it is easier for you to understand).

*This plugin is paid but you can fully understand how it works by installing the free part.

When you edit a product you can choose between: simple, grouped, external or variable products.

With the Premium version plugin you will be able to enjoy a new tab called “subscription variable”. This is the one you will need to implement the different payment methods in the product files.

Once selected you will have to follow the following steps.

- attributes: assign attributes to the product indicating a name such as “payment method” with the following options: example (cash, 6 months or 12 months).
  *Check the tab “used for variations” since we are going to indicate different options for each attribute.

Variations: click on add variation where you can select a price for the different payment methods. For example: if the product costs €450, you can set that spot price with an expiration of 1 month.

Another price of €75 for 6 months with expiration of 6 months.

Another more than €37.50 for 12 months to expire per year.

In this way a person who is going to buy the product You will have the option to pay in easy installments. as you choose.

*It is important to mark that the product is virtual to avoid charging shipping costs since it would not make sense to pay for it in installments.

Now, as you can see in the image, when someone clicks on the product, they will find the payment method tab.

As you can see it is very easy to implement this installment payment system and even if it is a Premium plugin, it can have many advantages for your business to implement such a comfortable payment system for the client.

As I told you at the beginning, in order to do all this you need to buy the plugin and install it. I’ll tell you how it’s done because the process is not like always.

Facility

This version, as I say, is the one that will allow you to create this installment payment method system.

To install it, if you decide to buy it, you have to follow these instructions as it works differently than other plugins.

So far the explanation of the installment payment system but I tell you something else that you may not have thought of. Think of yourself as an eCommerce owner. Wouldn’t it be great if, instead of being able to offer this installment payment system, you offered your clients a way to do it through financing and benefit from more advantages?

With this option you can offer easy financing and instantly to those users who want a certain product but do not have the financial resources to buy it right away.

With this financed installment payment system, the user will be able to finance their purchases and you, as the owner of the business, have benefits that you could not with the previously seen payment method.

Some of these advantages They are, for example: advance of the amount or loss of the uncertainty of not knowing if the client is going to continue paying month after month.

And all this with a system where the user will not have to leave your online store and with a very simple integration since it can also be done through a plugin.

Why is financed payment management interesting?

You need to encourage the customer to buy, for this you have to offer not only different forms of payment such as checking account, Paypal, cash on delivery, etc., you need something more.

If the installment payment modality system is attractive, as I have already explained, offering the customer to finance their purchase and have all the economic benefits as an entrepreneur thanks to external platforms that take care of everything is wonderful.

In this way the user will be able to pay in comfortable installments and you will have many benefits at the minimum cost and in a highly automated way.

This way of working is very interesting for both the client and the store owner, since it achieves:

Offer the customer a very interesting way of have a product in situ at the cost of a deferred payment system with very low interest.
The owner of the online store will be able to get immediate benefits at zero risk.
The system adapts perfectly to WooCommerce and can have an automatic installment payment system set up in a matter of a few minutes.

To achieve all this there are several platforms but I want to talk to you about Aplázame, a platform that is perfectly compatible and integrated with WooCommerce that works like a charm as you will see.

Installment financing plugin Aplázame

Aplázame is a platform that provides you with all the technical documentation necessary for you to integrate installment payments into your online store quickly and easily.

Also:

The owner, once the customer makes the purchase, immediately receives the total value of the order.
In case of return, the business will not have to worry about anything.
The plugin is free and in a short time it is installed and working, everything is done within the online store.
The plugin is thought and designed exclusively for online purchases that allows the user to finance their purchases.

Steps to use Aplazame

The registration of the eCommerce owner in this payment management platform is very simple:

Register in the form: once completed, the team of this platform will contact you to formalize the contract.
Decide from what amount you will offer financing to your clients and offer your future buyers the possibility of obtaining a reduced APR if the platform is given permission to review their social networks.

How much does Aplázame cost for the owner of the online store?

The cost for the owner is minimal, since it is not charged for the installation nor does it have monthly fees.

There are fees per transaction, which range up to 1.5% up to €10,000 financed throughout the month, up to 0.5% in the case of financing of more than €25,000.

The commission is very similar to any card payment.

When does Aplazame pay the business owner?

Once everything is ok, you will see the operation in your personal panel, being able to claim the payment of the total amount to Aplázame, every day or every week.

Once the financing with your client is closed, it is Apázame who assumes the risks of the operation. Aplázame also assumes the risk of non-payment.

Do you have a testing method?

Yes, Aplázame offers a sandbox for you to do the pertinent tests before launching your website with this new payment system for financed installments.

How does the plugin work?

As always go to plugin – add new. Type in the search engine Aplázame and you just have to install and activate.

Click on settings and you will automatically see its simple options. The first thing you will need is an API that the Aplázame team will provide you with. This is necessary to carry out the entire integration process with your WooCommerce.

Once the API is integrated, the integration is immediate and you will already be offering financing as configured in your panel when you proceeded to register in the…