Description
Now open up flexible payment channels for your customers with Partial Payments for Magento 2 extension. Admins can now offer EMIs, down payments, and layaway plans to enhance conversion rates, shopping experience, and customer retention.
- Create and offer installments on:
- Individual Products
- Entire cart’s value
- Supports Highly Secured and PCI Compliant Payment Gateways,
- Stripe, PayPal Payflow Pro
- Braintree, CyberSource
- Authorize.net, First Data Payeezy
- Cash on Delivery, Check/Money Order, Bank Transfer
- Generate installment statements (Profiles)
- Supports guest checkout with offline payment methods
- Allows Zero (0) amount checkout with offline payment methods
- Create an email notification about the outstanding amount
- Charge shipping cost and tax amount on the down payment or equally divide them into installments
- Allow partial payment facility to particular customer groups
- Set minimum cart total amount for availing the partial payment facility
- Reschedule the installment amount for a particular installment
- Set the down payment type – Percentage/Fixed
- Smart auto-capture payment engine, which only requires configuring CRON jobs
Overview Of Layaway & Partial Payments for Magento 2
As of 2023, the BNPL market is worth over $150 billion and still growing due to the convenience and flexibility it brings to the customers. If you run an online store, flexible or partial payments can help you achieve greater sales and conversion rates and reduce cart abandonment rates dramatically. Our Magento 2 Partial Payments extension is crafted to help merchants offer a flexible payment method on their Magento store and yield a higher AOV (Average Order Value).
Moreover, offering partial payments to your customers can induce loyalty and customer retention in your store. Utilize our Magento 2 extension to offer EMIs or installments on each product and the entire cart value. Plus, you can set the down payment type to a certain percentage or fix it. It also supports major payment gateways and is highly PCI-compliant.
How It Works
Once the Advanced Magento 2 Partial Payment Extension is successfully installed, the Partial Payment Information tab is available within the product information section. The Partial Payment Information section allows you to set the installment plan for a product. You can specify the initial payment, number of installments, charges, and other fees applicable for the installment plan.
Additionally, you can choose to send installments schedules to your customers and specify when to send reminders for installment payments to customers. There is also a facility to manually update the status of installment payment. This feature is useful when the payment for an installment is made through money order, check, or cash on delivery.
You customers will have choice to pay the full amount of the cart while checking out. The flexible payment option increases the purchasing capacity of a customer which can result in increased sales. The customers can also make additional payments in addition to their regular installments to pay the remainder of the amount faster. They can even prepay the entire remainder of the installments and save on the interest payable on the remaining installments.
SUPPORTED PAYMENT METHODS (WITH SPECIFIC PAYMENT GATEWAY EXTENSION)
- Check/Money Order
- Cash on delivery
- Bank Transfer
- Braintree (Default Magento extension)
- Paypal Payflow Pro-Exclude Express Checkout (Default Magento extension) *
- Stripe Payment Gateway (MageDelight Extension only)
- Authorize.net CIM (MageDelight Extension only)
- CyberSource Tokenization (MageDelight Extension only)
- First Data Payment Module (MageDelight Extension only)
AUTO CAPTURE PAYMENT METHODS SUPPORTED BY OUR PARTIAL PAYMENT PRO
- Braintree (Default Magento extension)
- Paypal Payflow Pro-Exclude Express Checkout (Default Magento extension) *
- Stripe Payment Gateway (MageDelight Extension only)
- Authorize.net CIM (MageDelight Extension only)
- CyberSource Tokenization (MageDelight Extension only)
- First Data Payment Module (MageDelight Extension only)
* Use Https secure server with PayPal Payflow Pro
Payment gateway other than mentioned above or of any other third party extension may require chargeable integration efforts