For expensive offerings, like retreats, teacher trainings, courses, etc., some clients may have trouble paying the full cost up front. OfferingTree was created to help improve the access to wellness, so making wellness more affordable is important to us. Payment plans give your clients the ability to pay for your offerings over time. Payment plans can be applied to events, event series, appointments, packages and store items. Payment plans are not available in memberships.
To add a payment plan option, select the "Create payment plan" button under payment settings when creating an offering. This brings up a modal where you can set the settings that spread the total payment over time.
Setting up a payment plan is straight forward. Choose the initial payment (can be zero), then choose the payment amount of the recurring payments as well as their frequency. You can also choose the time period between the first payment and the start of the recurring payments. On the bottom you will see a live summary of the payment plan that explains how your customer will be charged.
You can even add payment plans to tiered pricing! This allows you set different tiers of payment plans. To add payment plans to tiered pricing, select the "Tiered Price/Donations" option under payment settings when creating your offering.
This brings up the tiered pricing modal as usual, but there is now an option to create a payment plan in each tier by pressing the "Create Payment Plan" button.
The settings for the payment plan are the same as above. You can add as many tiers with payment plans as you need.
Clients will see an option to pay in full or to pay using the payment plan when registering or purchasing using a credit card. Package and membership holders are able to register and purchase as before.
A description and summary of the payment plan is giving so it is very clear what the payment expectations are.
When payment plans are used to pay for your offerings, you can see the status of the payments and refund and cancel future payments. For events and appointments, you can view this on the roster page for the event. For packages you can view this on the purchased package detail page. For store items you can view this on the store item purchase detail page. And you can view any payment plan purchases on your payments page.
The following example is from the roster page for an event. The revenue column will be filled with the revenue already accumulated from the payment plan. Under status is "Payment Plan". Clicking on the payment plan link will bring up a modal that shows the status of every payment.
You can see a summary of the payment plan's total amount and the amount that has already been paid. You can refund any payment that has already settled by pressing the "Refund" button to the right of the payment. You can also cancel any future scheduled payments with the button on top.
Payment plans are a great way to make an expensive offering more affordable for your clients. They are very flexible and you can control the amount of the payments and their timing. If you have any questions regarding payment plans or any other aspect of OfferingTree, send an email to email@example.com.
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