If you are offering products or services in the hundreds or thousands of pounds brackets, you may well wish to offer payment plans option for your clients.
Normally an agreement like this costs the client more overall but it make your services more accessible for them to pay in chunks.
You can always manually invoice your clients at the relevant intervals but of course, it is much easier to have something set up to deal with this all automatically for you.
I am going to tell you about 2 ways of doing that here.
Taking instalment payment plans via Paypal
Paypal have different ways of taking on-going payment: subscriptions and recurring payments and via the instalment payment plan button.
Using the instalment option allows up to 4 instalments to be taken. The payments can be equal amounts or varying and the first payment can be taken at the checkout or deferred to a later time.
Subscription and recurring payments can be set up for longer-term payment plans if you would like to create more than 4 intalments.
These features are available in the Premier and Business versions of Paypal so you will need to upgrade if you do not currently hold this type of account.
In my experience, the instalment option is only available through the Paypal button generated whereas the subscriptions option also allows an email link to be created (so you can link to it from your own picture/button on your website or sent in an email etc).
The fees charged are the same as for fixed payments.
I understand that some people like alternatives to Paypal so here is another option I have become aware of:
Taking instalment payment plans via Moonclerk.
With Moonclerk you can create payment forms for your services and these can be pay-in-full options as well as payment plans. Like with Paypal, Moonclerk hosts the forms so you don’t need any other software to start taking payments.
Payments are processed via Stripe and so their processing fees are as per Stripe (which I find cheaper than Paypal). There are no contracts to use Moonclerk however there is a set monthly fee (starting at £15 per month).
Ways you can take payment through Moonclerk:
- Send your client the direct product link
- Put the link into your email or website
- Embed the Moonclerk form on your webpage
- Embed only the “buy now” button on your website
- Install the Moonclerk plugin to your WordPress site to integrate
There is a fair bit of customisation available for the look of the form (in terms of colour, uploading logo etc) which could make this option more appealing to the yellow Paypal buttons. It also has the option to show a tick box on your form for your client to agree to your terms and conditions before the press the buy now button (which is sometimes tricky to add in before payments).
It’s free to set up and account so head over and have a look around.