Boost Your Sales with Installment Payments on Your WooCommerce Store
Are you looking to increase sales on your WooCommerce store? Offering installment payments can encourage customers to make more purchases. By allowing customers to break up the total cost of a product or service into smaller payments over time, you make it easier for them to afford expensive items. In this article, we will show you how to set up installment payments in WooCommerce using different plugins.
Why Choose Installment Payments for Your WooCommerce Store?
Offering installment payments provides alternative payment options for your customers, making it more likely that they will make a purchase. It also allows customers who may not have enough funds to pay the full amount upfront to still buy your products or services. This can help reduce cart abandonment rates and increase sales on your store.
Top Plugins for WooCommerce Installment Payments
There are several plugins available that can help you set up installment payments on your WooCommerce store. Here are some of the best options:
1. Affirm Payments
Affirm Payments is a user-friendly WooCommerce extension that allows you to add customized “buy now, pay later” programs to your store. It offers 4 interest-free payment options, where customers can split the initial cost into 4 installments with no added interest. This plugin is perfect for selling high-ticket items, and customers don’t have to worry about their credit scores being affected.
Who Should Use It: Affirm Payments is an excellent choice for anyone who wants to offer a “buy now, pay later” option on their WooCommerce store.
2. Klarna Payments for WooCommerce
Klarna Payments for WooCommerce is a free WordPress plugin that enables you to add Klarna payment options to your online store. Klarna is a well-known Swedish fintech company that offers online payment solutions. With this plugin, you can allow customers to pay the full amount at checkout, try the product before paying, or split the total amount into installments. Klarna integrates seamlessly with WP Simple Pay, making it easier for you to offer installment payment plans.
Who Should Use It: Klarna Payments for WooCommerce is ideal for those who want flexible installment payment options on their online store.
3. Jifiti Buy Now Pay Later
Jifiti Buy Now Pay Later is a WooCommerce plugin that adds a Jifiti payment option to your store. It offers a white-labeled buy now pay later platform, allowing you to use your own branding for installment plans. The plugin supports zero-interest split payments, pay in 3 or 4 installments, and more. It connects you with leading banks and lenders, ensuring a smooth payment process for your customers.
Who Should Use It: Jifiti Buy Now Pay Later is perfect for adding a white-label installment payment program to your WooCommerce store.
4. WooCommerce Deposits
WooCommerce Deposits is a premium plugin that allows you to set up installment plans on your store. It offers flexible payment options, including custom schedules based on days, weeks, or months. With WooCommerce Deposits, you can create multiple payment plans and choose variable percentages and intervals for each payment. This plugin is great for store owners who want to create customized payment schedules.
Who Should Use It: WooCommerce Deposits is a user-friendly plugin that’s perfect for creating custom payment schedules on your WooCommerce store.
5. Splitit
Splitit is a WooCommerce plugin that lets customers split the total amount into smaller portions using their existing debit or credit cards. This plugin eliminates the need for customers to obtain a loan or wait for approval before making a purchase. Splitit supports multiple card network providers and offers a white-label buy now pay later feature, making it a great choice for flexible installment payments.
Who Should Use It: Splitit is the ideal solution for those who want to offer their customers the ability to use their own credit cards for installment payments.
6. YITH WooCommerce Deposits / Down Payments
YITH WooCommerce Deposits / Down Payments is a premium plugin that allows customers to pay a deposit to reserve a product or service on your store. The remaining balance can be paid at a later time. This plugin is perfect for online stores that require an initial deposit or down payment to secure a purchase.
Who Should Use It: YITH WooCommerce Deposits / Down Payments is a great option for online stores that want to collect deposits or down payments from their customers.
7. Deposit & Partial Payments for WooCommerce
Deposit & Partial Payments for WooCommerce is a free plugin that allows customers to pay a deposit or down payment for products on your store. This plugin works with all the payment methods supported by WooCommerce and offers a history of partial payments on your store’s dashboard.
Who Should Use It: Deposit & Partial Payments for WooCommerce is an excellent choice for those who want to offer down payments and create payment plans on their WooCommerce store.
8. WP Simple Pay
WP Simple Pay is a popular Stripe plugin for WordPress. It allows you to collect online payments without the need for a shopping cart. With WP Simple Pay, you can offer installment payment plans by choosing the billing time period. This plugin supports various payment methods and comes with pre-built form templates, including an Installment Plan Form template.
Who Should Use It: WP Simple Pay is ideal for those who want to accept credit card payments with installment options, without the need for a shopping cart.
Conclusion
By offering installment payments on your WooCommerce store, you can attract more customers and boost sales. Each plugin mentioned in this article has its own set of features and benefits, so you can choose the one that suits your needs and requirements. Whether you want to offer a “buy now, pay later” option, create custom payment schedules, or allow customers to use their own credit cards, there is a plugin available to meet your needs.
