Magento 2 Partial Payment
Magento 2 Partial Payment extension allows offering customizable payment plans and facilitates customers to pay in installments, layaway plans or EMI.
- Facility to place an order with partial payments option such as down payment, layaway plans or EMIs.
- Enable the partial payment facility for particular customer groups and payment methods.
What is Partial Payment or Layaway in E-commerce?
Partial payment or deposit payment is the fractional amount of the invoice paid against a purchase. In E-commerce, merchants can encourage the visitors to convert by offering preferred payment options, partial payment options, or deposit payments.
What is the Benefit of Partial Payment in Magento 2?
- Attract a larger customer base with Magento 2 pay later extension. The budget buyers who may have opted out on purchase can now be your loyal customer!
- Increase sales by increasing customer affordability. People who are compelled to buy instantly when they see a good deal are also responsible to increase conversions by leveraging the installment facility
- Get a competitive edge with buy now pay later in installments functionality
- Improve the payment experience of the Magento 2 store with the split payments feature. It will eventually improve their loyalty towards the brand.
Why is the Magento 2 Partial Payment Extension a Must in Your E-commerce Store?
There are some cases when you need to accept part payment of the total order amount in advance as a deposit. These cases are a service where part of the amount is taken in advance as a sort of guarantee, or the customers don't have enough cash on hand to pay in full, or the product is too pricey to pay the whole amount at once.
As a Magento 2 store owner in the e-commerce rat race, you know how essential it is to set yourself apart and get ahead. One of the best ways is to provide pocket-friendly payment options. Magento 2 store's payment system can always be optimized more to increase the conversion rate. There's never enough optimization and thus, Meetanshi has developed Magento 2 Partial Payment module to offer installment payment facility and layaway plans to allow customers to pay in parts.
Splitting payments in parts motivate customers to purchase without a second thought of paying the lump sum amount. While providing an installment payment facility, the customers' concern for the product cost is reduced considerably. Allow customers to pay a token amount or down payment at the time of the purchase and then pay with an installment. Also, offer layaway price plans or EMI to the store customers. A win-win situation for both the customers and store owners with Magento 2 EMI extension!
Selling products in installments is an age-old effective marketing technique to keep customers engaged with the stores. After making the purchase with the down payment or deposit amount, they still have to come back and finish installment payments in a timely manner. This way, you can continuously get in touch with the customers, continue building a good relationship and build trust, all with the Magento 2 Split Payment extension!The Magento 2 Layaway extension allows the admin to customize the payment plans based on the products and offers a separate backend grid to manage Partial Payment orders and installments. It supports multiple payment methods and customer group-specific facilities for partial payments.
How Meetanshi's Magento 2 Partial Payment Extension Works?
Features of Magento 2 Partial Payment Extension
- With Magento 2 Partial Payments extension, offer products and services with partial payment, layaway plans, or EMIs!
- Sometimes it may happen that a potential customer may want to purchase an item in your store but could not afford it at the moment. Due to such a situation, he/she may postpone the purchase. However, if the store offers the buy now pay later facility, it can be a win-win situation for customers as well as the stores. Customers can pay down payment at the time of the purchase and the remaining amount later in an installment. Thus offer split payment in Magento 2 store to secure the conversion and also win customers' loyalty in long run.
- Define the partial payment availability to the specific customer groups and payment methods.
- Admin can select the scope of the Partial Payment:
- All Products
- Selected Products
- Whole Cart
- Specify the minimum order amount for the whole cart scope to allow using the partial payment facility. This feature is useful when the store owner does not want to exceed the cost of installment management with the profit earned. Hence, restricting the partial payment facility for a limited order amount can avoid such loss.
- Option to charge shipping cost and tax amount on the down payment or equally divide them into installments
- Disable guest checkout for using the facility of partial payment in Magento 2 store.
- Set Partial Payment credit limit. The amount set would be considered the maximum credit limit to use the Partial Payment facility, any order above that credit limit will not be allowed to opt the partial payment facility.
- Set the custom error message to show someone who overreaches the maximum partial payment credit limit.
- Option to show checkbox for Pay All Installments in My Account section to allow the customers to select all the installments together and pay at once.
- Auto capture installment facility for the orders placed using PayPal and Authorize.net payment methods.
- Select one of the two Partial Payment plans:
- Fixed Installment Plan- In which the admin defines the installment number and customers are forced to pay with it. For example, the admin has set 4 installments, customers have to pay in 4 installments.
- Flexy Layaway Plan- In which the admin defines the installment number and customers can choose to pay selecting one from them. For example, the admin has set 4 installments, customers can choose to pay either in 1 or 2 or 3 or 4 installments as per their choice.
- Set one of the payment frequency for the installment payment:
- Based on Days
- Easily customize the label for the down payment amount to show in the frontend.
- Set how you want to calculate the down payment amount:
- In Fixed Amount
- In Percent of Product Price
- Enter the down payment amount to charge on orders with the Partial Payment. Set the custom label for the remaining amount to show in the frontend.
- Charge partial payment fee for using the installment or part payment facility as:
- No Fee
- On First Installment
- On All Installments
- Customize text for the label of the Magento 2 Partial Payment fee.
- Charge partial payment fee either in a fixed amount or in the percentage of the product price.
- Enter the fee amount to charge on orders with Partial Payment.
- The extension facilitates to show Partial Payment availability message on the product page to encourage customers to opt for the Partial Payment facility.
- Add and show terms and conditions of using the Partial Payment facility in the payment calculation box shown on the product page.
- Email notifications on various Partial Payment actions and events:
- Installment Schedule Email
- Installment Payment Confirmation Email
- Installment Approval Email
- Installment Disapproval Email
- Installment Overdue Notice Email
- Installment Reminder Email
- Installment Auto Capture Reminder Email
- Installment Auto Capture Failure Email
- A separate grid in the Magento 2 backend to manage partial payment orders and installments.
- Admin can enable product specific Partial Payment and set the number of installments, custom down payment and fee amount.
- A customer can opt out the partial payment facility and pay the full amount for the product purchase.
- Customers can see all the Partial Payment orders in a separate tab named "Partial Payment Orders" from their My Account section.
- Customers can click on "View Order" to see the installment amount, due date, paid date, the status of the installment payment, the payment method used while placing the order.
- Customers can pay selected or all installments from the installments section.
- The admin can approve or disapprove payments for offline methods.
- The admin can get the details of revenue generated from the Partial Payment through the Revenue Report in the backend.
- Admin can filter and export the revenue report for the particular date range.
- The Magento 2 Part Payment extension supports PayPal Checkout, MTN Pay, Orange Money - Ivory Coast, and YUP Payments payment gateways for online payments.
- Admin can create orders from the backend using the Magento partial payment extension.
Supported Payment Gateways
|Installment Capture||Auto Capture|
|Authorize.net||Paid Integration||Paid Integration|
|Orange Money- Ivory Coast|
|Orange Money- Ivory Coast||NA|
|Rave Payment - Github|
|Rave Payment - Github||Paid Integration||NA|
|Rave Payment - Meetanshi|
|Rave Payment - Meetanshi||NA|
|Barclaycard||Paid Integration||Paid Integration|
|Stripe||Paid Integration||Paid Integration|
|Worldpay||Paid Integration||Paid Integration|
|Payflowpro||Paid Integration||Paid Integration|
|Payflowpro Card||Paid Integration||Paid Integration|
|Moneris||Paid Integration||Paid Integration|
|Payfort||Paid Integration||Paid Integration|
Want us to customize this extension according to your Magento needs?
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Only registered users can write reviews. Please
19 Apr, 2021
- Minor bug fixes.
26 Aug, 2020
- Compatible with 2.4 and Minor bug fixes.
21 Mar, 2020
- Minor bug fixing and code improvement.
21 Oct, 2019
- Compatibility with Magento 2.3.3.