Using deposit payment extension for Magento2 by Milople, allow your customers to pay a deposit amount while purchasing the product. The remaining amount can be paid in one or multiple installments later, as defined by the store admin.
How buyer places the order?
Users can choose if they want to pay a deposit amount or full payment against the purchase of product. Admin can enable/disable this option.
A detailed payment plan explanation will be available in a tooltip window.
Users can select the deposit payment option from product page or cart page depending on the admin settings.
Users can see the down payment amount and remaining amount on the cart page and checkout page as well.
Status of orders placed by deposit payment can be checked by users in "My Account" section.
How user pays installment?
Installments can be paid by the user from "My Account" section.
Admin can mark payments made by users as "paid", from the backend.
Prepayment and advance payment of installment is possible.
How to manage orders and invoice?
There will be a separate grid for orders placed by Deposit payment.
Admin can see all paid and pending installments of orders from Magento Deposit payment order grid.
Invoice would be generated only once and it will be updated regularly with each installment payment.
The extension offers easy order management as manages all installments of an order in that order itself and doesn't create separate orders.
How can admin create payment plans?
Select the products in which you want to apply partial payment plan.
On the whole cart.
Set the total number of installments in which user has to complete the payment.
Assign deposit payment type as "Fixed Instalment plan" or "Flexi layaway plan".
Set installment schedule plan as monthly/daily/weekly.
Define down payment amount as fixed (e.g $100) or as a percentage of product price (e.g 30%).
Admin can configure all installment configuration settings globally or differently for each product.
Limit deposit payment facility to certain user groups and products only.
Set credit limit and alert message for users so that they would not have total installment amount pending, beyond that limit.
Specify minimum order amount to avail installment facility (available only if deposit payment facility is assigned to the whole cart).
Easy to buy multiple products
Multiple products with deposit payment can be brought in the same order.
Easy to buy product mix
Products with or without deposit payment can be brought in the same order.
Brand your payment plan
Customize deposit payment plan brand label from admin panel.
Create orders from backend
Magento store admin can place deposit payment orders from Magento Backend.
Installment fee, shipping, taxes, and discount
Admin can add installment fee to the value of the order and can include it in down-payment amount or distribute it in all installments.
Admin can apply category image to all deposit payment enabled products,which will be visible on Category page.
Discount, shipping cost and taxes can be applied to down payment or can be distributed in remaining installments equally.
"Instalment fee" button label can be customized to something like "Installment charge", "Surcharge" etc.
Installment fee can be a fixed value(e.g $50) or percentage of product price (e.g 40%).
Notify your users regarding installments and order related details.
Admin can set enable/disable the option of sending emails and notifications to customers for different events like:
Installment payment confirmation.
Notify buyer “x” days before the installment payment due date.
Installment overdue notice.
You can also send email templates to your customers informing them about these actions.
We can help you building a full store with Magento 2 and our Deposit Payment M2 extension. Our Magento 2 solution experts will be with you during entire ecommerce cycle starting from conceptualization to launch and marketing. Give us a try.