CopeCart supports three types of payment plans: one-time, installment, and subscription payments.
Depending on the Vendor's configuration, at a checkout page buyers may select the payment plan that suits them better or agree to the only payment plan available:
- One-time payment
With this payment plan, a buyer pays the whole product price at once when purchasing.
This payment plan breaks the total product price into a few fixed payments.
Here, a Vendor sets up the value of each payment, the total quantity of payments, and the schedule to charge payments at the daily, weekly, monthly, semiannually, and annually intervals.
Important for vendors: you can set the Affiliate’s share to a percent rate or a fixed amount that will be charged from every product order.
This amount/percentage will be deducted from EVERY payment in the case of installment. The fixed amount should never be greater than one installment!
When you set both percent rate and fixed amount, the Affiliate will receive their share for every product order plus one-time provision equal to a fixed amount for the first product order.
If a buyer asks for a refund when not having paid all the installments, they receive back only the costs paid.
IMPORTANT! Currently, it is not possible to pause installments or change the payment method.
This payment plan requires a buyer to pay a fixed sum at equal intervals: daily, weekly, monthly, semiannually, and annually. The subscription ends when a buyer cancels it or when a Vendor ends the subscription.
With a subscription, no refund is available. Time-limited subscriptions are not possible at the moment.
Important! Payment plans of addon products may impose constraints on the payment methods for an order. Read more here