Have you ever wanted a product or service so much that you wished you could pay for it in parts? Probably the hefty price tag made you feel reluctant, or you might have even gone away. This is what happens to prospective buyers all the time, and online store owners lose sales because of that.
A very simple way out is WooCommerce split payments. You wouldn’t have to pay the whole amount at once, but rather take smaller, more manageable installments.
Simply by this, you make your products and services of high value accessible to a wider audience, which automatically means more sales and customers that gain positive feedback.
Through this tutorial, we will guide you step by step on how to configure WooCommerce split payments with the help of a brilliant and user-friendly tool called the WPSubscription plugin. It’s a one-stop solution that takes care of all the technicalities, allowing you to concentrate on your business.
What Exactly Are Split Payments in WooCommerce?
Think of a split payment as an installment plan for your online store. It’s different from a regular subscription, which usually charges a set amount on a recurring schedule with no end date (like a monthly Netflix fee).
A split payment plan has a clear end date, you decide the total number of payments, and once the final one is made, the billing stops automatically.
This is an amazing solution for goods with a set, single value, that are, however, too costly for buyers to pay for in a single installment.
For merchants, the benefits go to improved cash flow as well as more security in the sense that fewer people will leave their carts. On the other hand, for customers, it implies that the luxury item that they have been longing for but were not able to afford is now available to them.
Why Use the WPSubscription Plugin for Split Payments?
WPSubscription plugin is designed to manage subscriptions and recurring payments in WooCommerce. Still, the feature that really makes it different from other similar tools is the way it handles split payments with great ease. It allows you to convert any product or service into a payment plan with multiple installments, so you do not have to write a single line of code.
Through your WooCommerce dashboard, you are enabled to create subscription products, define the number of installments that you want to provide and even link the whole thing to payment gateways like Stripe. From there, the plugin is on its own.
Payments are made automatically on schedule, notifications can be sent to customers re-subscriptions are done automatically. That is less work for you. For your customers, it is an easy and reliable checkout process.
Instead of going through the hassle of managing different tools or following up on invoices, WPSubscription simply allows you to have everything in one place and run it on autopilot once you have made your settings.
How Split Payments Work in WPSubscription
The steps are quite easy. First, you come up with a product in WooCommerce, assign a total price, and then figure out how you will divide it, for instance, into three monthly payments of $50.
At the checkout, the customer sees the option of split payment and selects the plan. The first payment is made immediately, and the rest are sent automatically at the time you have agreed upon.
On your dashboard, you can track who has made the payment, you can also see the upcoming installments, and if required, you can make changes.
Customers can forget the effort of making payments every month, and you don’t have to trouble yourself with following up on them. Everything is done automatically, but you are still in total control.
How to Set Up Split Payments with WPSubscription
Getting started is surprisingly simple. You don’t need any coding knowledge. Just follow these steps:
- Adding a New Product: Locate Products in your WordPress dashboard, and then click the Add New button.
- Enter the Information: Create a new product title and a detailed description. Make sure to describe the payment plan and what is included. Add a compelling product image.
- Choose the Product Type: In the Product data box, select Simple product. Check the Subscription checkbox. This will unlock the split payment feature. Enter the price for a single installment.
- Open Subscription Settings: A new Subscription tab will appear in the product sidebar. Click on it. Choose the option Split Payment from the Payment Type dropdown.
- Setting Up the Plan: Choose the billing interval and the total number of payments
- Setting the Access Duration (Optional but Recommended): In this way, you can manage when the customers will receive full access. You may decide to provide complete access for free after all payments are done or set a time limit for access.
- Sharing Your Product: Hit Publish when you are finished. Your new split payment product is now live and ready for customers.
Tips for Making Split Payments a Success
New payment types are supposed to facilitate payments for you. Remember the following directives for the best use of your new payment option:
Be Crystal Clear
Enunciate the payment plan and what the customer is receiving at each phase. Being open to your customers will give you their trust, and it will also save you from having to spend time resolving conflicts.
Use Reminders
Install a system that will send out reminders for the upcoming payments so that the money is in the account and the transaction can be done smoothly.
Protect Your Content
If you release digital products, implement the access control function to guarantee that the customers receive only the products for which they have made payments.
Ready to Boost Your Sales?
Currently, it is more than just a feature that helps your WooCommerce store split payments; it is a way to keep your store in the game.
Turning your expensive products into more approachable ones means that you can connect with customers that you did not have before, and your profits will grow drastically.
Using the WPSubscription plugin, the whole process becomes effortless, and you can then dedicate your time to other important tasks. The plugin gives you the ability to create the most suitable installment plan for your products and also provides you with the ease of managing them.
