With eCurring, you have the option to let your customers pay you in instalments. This way, your customers can spread out the payments more, which can make buying the product a more attractive option.
For example, you let your customers pay a television or coaching course of €1000 in 10 monthly instalments. Because the risk is a bit higher for you, you’ll want to have them pay a bit more than €1000. That is why you decide to have your customers pay you €110 per instalment. The total amount they will pay you is therefore increased to €1100.
The payment rules for this will look as follows:
- A recurring amount of €110
- Period set to ‘monthly’
- Frequency set to ‘every month’
- Process day on ‘subscription day’ or choose a day of the month
- The repeat option set to ‘10 times’
This is what that would look like:
What happens when someone signs up for this product?
When a customer signs up for this product or gets assigned this product, the correlating transactions are created within 10 minutes. The first installment will then be processed on the chosen day. The following 9 future transactions are also planned in and visible in eCurring, with the process date. Once all transactions have been completed, the product is paid off and no new transactions will be planned anymore.