In Plug&Pay you have the possibility to offer your product to be paid in instalments. This way, when you have a (more expensive) product, you make the threshold lower to purchase the product.
On the checkout, the customer can choose to make a one-off payment, or a payment in different instalments.
If a customer chooses an instalment, the customer settles the first instalment when checking out. Subsequent instalments are billed automatically!
An instalment is always a monthly instalment. So let's say someone chose to do the payment in 3 instalments. The first instalment is payed immediately, while the other two will be collected automatically for the next two months. This is what the checkout looks like when an instalment has been chosen:
The maximum amount of instalments is 12: someone pays the first instalment when proceeding to payment and will then be billed for the next 11 months.
Which payment methods can be used?
Payment methods that allow for a direct debit to take place can only be used for instalment payments. Examples are credit card and SEPA direct debit.
Be sure to enable SEPA direct debit in your Mollie dashboard if you want customers to use iDEAL and Bancontact as their preferred payment method.
PayPal can also be an option. Through Mollie, direct debits with PayPal are only supported if PayPal has 'Reference Transactions' activated in your account. More about that can be found here.
Creating a product with an instalment payment
You can create a new product in the Products menu. Click here if you need more assistance with creating a product.
After creating your new product, go to Prices and turn on this slider:
You will now see multiple pricing options appear. First off, there is the one-off period.
Fill in the regular price of your product here. Next, you have two options to enter an instalment payment.
You can enter how many instalments you want (minimum 2, maximum 12). Fill in what the price per instalment should be.
In the screenshot below, a customer can also pay the price in six instalments, for €166.66 per instalment. There is also the option to pay in twelve instalments, for €83.33 per instalment.
Viewing current instalments
If a customer pays for a product in instalments, you can find this current instalment payment via Instalments:
If you click on an instalment payment, you will see all the details associated with this instalment payment there, such as customer details and payment method. You can also see when the next payment is due and how many remaining payments this customer still has to make.
You can also adjust these remaining payments. Do you want to stop a customer's instalment? Set the remaining payments to 0.
This way, the collection of future instalments is completely automatic - and you don't have to do anything extra! Also note that you cannot set a deviating first period with instalment payments. This is only possible with subscriptions.