You can effectively simulate the charging of interest by charging more for a payment plan than a one-time purchase.
Here a product costs $100 as a one-time purchase:
By charging $35 for 3 payments, charging interest has been simulated:
FAQs
- Can I add orders with payment plans through the administrative backend?
- Does the plugin support automatic recurring payments?
- How do I check the status of a failed renewal order?
- Why can’t I just use the WooCommerce Subscriptions and the All Products for Subscriptions plugins? What do I gain by also buying this extension?
- How do I provide you with Administrator-level access to our site?
- What are other alternatives to the WooCommerce Payment Plans plugin?
- How do I update the plugin?
- Is there any way of adding a recurring coupon to a payment plan already in progress?
- Where can I find my license key?
- Which plugins/extensions is the plugin not compatible with?
- How do I prevent emails on payments after the initial order?
- Can customers complete payment prior to the due date?
- How do I change Payment Plan text on the Cart page?
- Why is PayPal not an option when my customer pays with a payment plan?
- Is it possible to sell a LearnDash course over multiple payments and limit access to the course to one year?
- Is the plugin compatible with the Custom Start Date for WooCommerce Subscriptions plugin?
- How do I include the “subtext” field on the Cart page?
- How do I delete the “future payments” field that displays on the cart page?
- What is the correct way to cancel a payment plan?
- What happens when the value of a coupon exceeds the cost of a payment?
- Where do I find information about what has changed in the plugin? Is there a changelog?
- Can customers log into their account using the plugin and make changes to it?
- Can I add orders with payment plans through the admin backend?
- Are there any extra/hidden fees to use the plugin?
- How can I see the next payment dates?
- How can I change the button text label, from “Sign up now” to something like “Buy now”?
- Can I use subscriptions and payment (deposit) plans at the same time?
- I am looking to split installments over a variable term (such as 30 days later, 90 days later and 180 days later) and/or over a variable amount of payments (such as $100, $300, $125 and $50). Is this possible with the plugin?
- Does the plugin store payment data on our web server?
- Which plugins/extensions is the plugin compatible with?
- Is the plugin compatible with Cartflows?
- Is the plugin compatible with the Composite Products plugin?
- How to manually create a payment plan?
- Is the plugin compatible with the Course product type associated with LearnDash integrations?
- Is the WooCommerce Payment Plans Compatible with LearnDash Groups?
- Will WooCommerce Payment Plans automatically cancel a LearnDash course if a customer cancels payments or their payments fail?
- What happens when I change the price of my LearnDash course?
- If I change my Stripe account, will this affect recurring payments?
- Why are my pending payments not processing?
- How do I accept payments on my WooCommerce site?
- Does the plugin support my payment gateway?
- Will a user’s access to a LearnDash course expire after all payment plans are paid?
- Is it possible to add a payment plan on the Checkout page?
- Is it possible to edit the “Pay Deposit” text on a product page?
- Can you change the date of an upcoming payment?
- Can a customer make a payment early?
- Can I charge a single sign-up fee regardless of how many products they buy?
- How do I add a payment plan to a landing page?
- What should I do if I can’t activate the plugin?
- How do I customize the Cart page?
- Is it possible to add a payment plan during the checkout stage of the process?
- How do I change a payment plan from Cancelled to Active?
- How do I charge a deposit for a product?
- How do I restrict vendors from accessing payment plans?
- How do I manually retry payments that have previously failed?
- How do I enable automatic retry of failed recurring payments
- Can I charge interest with a payment plan?
- How to set up coupons with payment plans?
- How does the plugin handle failed payments?
- Can I remove the suffix that gets appended to my product’s price in the Shop and Product pages?
- How do I customize the list of payment plans on individual product pages?
- Can I View the Updated Balance for Each Customer?
- How can I extend more than 24 months financing to 36, 48, 60, 72, and 84 months
- Does the plugin support invoicing?
- Is it possible to charge a higher price if a customer chooses a payment plan?
- How can I change the button text label, from “Sign up now” to something like “Buy now”?
- Is it possible to offer a payment plan that automatically charges the installments on an entire cart order, not just individual product purchases?
- Does the plugin have multi-currency support?
- Can I charge 15% of payment upfront and the remaining 85% 30 days later?
- How do I enable Guest Checkout for WooCommerce Payment Plan Orders?
- What other software or plugins are required for the plugin to work?
- Can I use the plugin with WordPress? What steps do I need to take?
- Where do I place my language files?
- Why shouldn’t I use the WooCommerce Deposits plugin?
- How do I get started with WooCommerce Payment Plans?
- Do customers have to log in to make use of a payment plan?
- Where is credit card infomation stored?
- Can I use subscriptions and payment plans at the same time?
- Are there any extra/hidden fees to use the WooCommrece Payment Plans plugin?
- I am looking to split installments of a specific number of installment payments over a fixed term (such as 30 days). Do you have an example of this?
- I am looking to split installments over a variable term (such as 30 days later, 90 days later and 180 days later) and/or over a variable amount of payments (such as $100, $300, $125 and $50). Is this possible with the plugin?
- I tried downloading my plugin and I get this error message: “WooCommerce Payments Plans is inactive. The WooCommerce Subscriptions plugin must be active for WooCommerce Payments Plans to work.”
- What happens if my customer cancels their credit card from their account when they’re on a WooCommerce payment plan?
- Can customers log into their account using the plugin and make changes to it?
- How can I see the next payment dates?
- Will the plugin work with my WordPress/WooCommerce theme?
- What is your refund policy?
- Can I charge my customers a service fee for extending the number of payments?
- Does the plugin support variant products, such as products that come in different sizes?
- Can I set up billing dates and intervals with the plugin?
- Can I automatically charge customers when a scheduled payment is due?
