Are you looking for a complete guide to Offer Installment Plans for WooCommerce Products? By reading this entire blog you will be able to offer installment plans. As you know that WooCommerce lets you sell products and services from your WordPress website. Now, let’s take a brief look at the article:-
How to use subscription to offer installment plans on products
1. Install Subscriptions Extension
The first step would be to install the WooCommerce Subscriptions extension on your WooCommerce website. As the name suggests, this plug-in provides functionality to sell products to users, as opposed to selling them completely.
2. Set Product Type to Variable Subscription
The product that is sold with an instalment scheme should be set as a variable subscription.
3. Select Payment Mode
However, the user will select the instalment mode like as the mode of payment for applying the installment scheme functionality. Therefore, subscription plugin allows for a user to select a payment option to define a particular product.
4. Add Subscription Attributes
In the Attributes tab on the product page of the dashboard, the user must define an attribute with different values. Attributes and its value can be taken primarily by user benefit to various instalment schemes. Below is an example of the attribute with image values.
5. Link Values
The values defined in the attribute tab should now be linked to the variations that are added to each product. If once entire values are linked to variations the customer can add and subtract variations as per needs.
6. Settings for each Variation
The final step of this process will be to determine value like subscription price, the number of months, etc. and the variation should be enabled for use.
How will the Installment Plans Work?
- Assume that some courses are being sold under the instalment scheme. Now, whenever a customer has come to a course page, he can choose one of the payment methods defined in the attribute tab of the Dashboard.
- Let us assume that the customer selects a three-month instalment plan for which customers are required to pay an X amount per month for three months.
- The user will create first payment and will access the course. After the end of the first month, the customer will have to pay the second instalment of the course. If the customer defaults on the instalment, then the customer will be suspended from access to the course.
- At the end of the subscription period, the system will check payment mode of course. If the chosen payment mode is the installation mode then all further payments will be suspended and the product will be available to the user continuously. This check is designed by customizing the WooCommerce Subscriptions plugin by using the hook by the plugin.
If you are getting the functionality of the instalment scheme with subscription functionality, then, in my opinion, it is a cost-effective solution to complete the requirements with some adaptation. If this is the case then I will say why is not right?
Here, in this post, we have discussed “How to Offer Installment Plans for WooCommerce Products”? Often we concluded, How will the Installment Plans Work?
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