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Overview Of Payment Installments

Scenarios:

  1. You want to understand how customers can pay in installments for Holiday Programmes, Lessons & Classes and Camps.

This document assumes the following:

  • You have set up an activity that you want to take payment installments with

  • Your payment method is credit card only

What Are Payment installments?

Payment installments will allow customers to pay for their bookings in a weekly, fortnightly or monthly rhythm. Payments would be automatically deducted from the customer's nominated debit/credit card.

How Payments installments Work

During the booking process, customers will be able to choose from a range of payment options, such as “Pay in full today”, “Pay every fortnight”, or “Pay weekly”. You control which payment options are available through your activity settings.

When the parent confirms their booking, the first payment of the instalment plan will be deducted from their nominated payment method. This initial payment is important as it creates the authorisation (from the customer to the provider) that allows future payments to be taken. For future payments, Enrolmy will automatically deduct the agreed amount, at the chosen time that is set out by the instalment plan. Customers can see their instalment schedule in the My Invoices area in their customer portal.

A reminder email is sent to the customer 24 hours before each payment attempt is made. If the payment attempt fails for some reason; such as an expired card, or no available funds, then another email will be sent to the customer asking them to take action. Enrolmy will try to deduct the payment three times, over three days, before giving up. A receipt is sent to the customer, and a notification to the provider, if the payment is successful.

Customers can also pay installments in advance if they wish at any time via the “My Invoices” area in the customer portal.

Key Considerations for Payment Instalment Setup

Invoice Due Date

The Invoice Due Date is the most important setting when instalment plans are being offered as this determines the number of installments that are possible.

For example; If an activity is configured so that the Invoice Due Date is “12 weeks after invoice creation, " the customer can pay in either 12 weekly payments, 6 fortnightly payments, or 3 payments every four weeks.

Overall booking total

The other factor determining which payment options are available, is the total cost of the booking for each child, as a minimum payment instalment amount of $10 or £10 has been set in the system. This is to try and avoid crazy payment plans of £1.30 per week for 10 weeks for example.

This means that if the Invoice Due Date was set to “4 weeks after invoice creation” but a child's overall booking costs less that £40 then the “Pay in installments weekly” payment option would not be available.

Maximum number of installments

A maximum number of 12 installments per instalment plan has been set in the system. It is possible to set a Fixed Invoice Due Date to a date that could be more than 12 weeks into the future. The maximum number of weekly installments will be 12.

Example Scenarios

Taking into account the minimum payment amount ($10 / £10) and the amount of time to pay (based on Invoice Due Date) a range of payment options will be shown to customers.

Here are some example scenarios that show the instalment options that will be available to customers.

Scenario

Explanation

A 10 week drama class costing $300 with invoices due 28 days after invoice creation

  • In full today: x1 payment of $300 upfront

  • Every 4 weeks: x2 payments of $150 (one now, one in four weeks)

  • Fortnightly: x3 payments of $100 (one now, then x2 fortnightly payments)

  • Weekly: x5 payments of $60 (one now, then x4 weekly payments).

A 10 week drama class costing $300 with invoices due in 14 days

  • In full today: x1 payment of $300 upfront

  • no every-four-weeks option

  • Fortnightly: x2 payments of $150 (one now, then on in two weeks)

  • Weekly: x3 payments of $100 (one now, then x2 weekly payments)

A 10 week drama class costing $80 with invoices due in 8 weeks

  • In full today: x1 payment of $80 upfront

  • Every four weeks: x4 payments of $26.67 (one today, then x2 payments 4-weekly)

  • Fortnightly: x5 payments of $16 (one today, then x4 payments every 2 weeks)

  • No options to pay weekly as $8 is below the minimum instalment

A two week holiday programme, costing up to $1000 with 3 days to pay

  • In full today: x1 payment of $1000 upfront

  • No other options as there is not enough time remaining before the invoice would be due.

A $1200 career class that starts in 6 months time, due date is fixed at the start of the activity

Because there is six months to pay and the the limit on the number of installments is 12 some interesting options are thrown up:

  • In full today: x1 payment of $1200 upfront

  • Every four weeks: x6 payments of $200 (one today, then x5 4-weekly payments)

  • Fortnightly: x11 payments of $109.09 (one today, then x10 payments fortnightly)

  • Weekly: x12 payments of $100 (one today, then x11 payments weekly)

  • Now see how to enable payment installments here!

  • What customers see when payment installments are activated!

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