If you’re running a WooCommerce store, you may occasionally need to accept a partial payment from a customer. This could be for a number of reasons, such as if they’re only able to pay a deposit up front, or if they’re buying an item that’s on backorder and won’t be able to pay the full amount until it arrives. Whatever the reason, it’s easy to set up partial payments in WooCommerce.
To start, you’ll need to install the Partial Payments for WooCommerce plugin. Once that’s done, you can go to WooCommerce > Settings > Partial Payments to configure your settings. Here, you can choose whether or not to enable partial payments, as well as how you want the rest of the payment to be collected.
If you enable partial payments, you’ll also need to specify the minimum amount that can be paid up front. For example, if you’re selling a product for $100 and you want customers to be able to pay a minimum of $50 up front, you would enter 50 here. You can also specify whether or not interest will accrue on the outstanding balance, and if so, what the interest rate will be.
There is no guarantee that the customer will actually make the remaining payments, and you could end up being out of pocket if they don’t.
There is also the risk that the customer may cancel their order entirely, leaving you with a partial payment and no product.
Before accepting a partial payment, be sure to weigh up the risks and benefits to see if it is the right decision for your business.
Once you’ve saved your settings, customers will now be able to choose to pay a partial payment when they checkout. If they do so, they’ll see the details of their payment plan on the checkout page, including how much is due up front and when the remaining balance is due. They’ll also receive email reminders about their upcoming payments.
Partial payments can be a great way to accommodate customers who can’t pay the full price of an item upfront. By using the Partial Payments for WooCommerce plugin, it’s easy to set up and manage partial payments on your WooCommerce store.
In conclusion, accepting partial payments in WooCommerce is easy to do with the Partial Payments for Woo Commerce plugin. This plugin allows store owners to specify how much of a minimum payment is required upfront and whether interest will accrue on the outstanding balance. Customers are able to see their payment plan details on the checkout page and receive email reminders about upcoming payments.
