Layaway Payments (1.4) 14741 hits
It’s the buzz word these days where many big brands are offering layaway to increase sales and beat their competitors. With people barely managing their finances Layaway Payments is the perfect solution. With the Magento partial payment extension magento store owners can now choose certain or all products which can be bought through layaway. This allows the customers to pay for the product in installments. The number of installments are set by the admin. Admin can now set the initial deposit (down payment) as a fixed fee or a percentage of the product price.
Most companies charge a service fee for layaway. Layaway Payments allows the admin to add a service fee associated which is added to the total. Admin can set the fee as fixed or a percentage of the product price. Another functionality provided is to charge layaway fee and/or first deposit before or after discount applied.
It’s important for the magento store owners to get paid within a certain time period. Admin can define a max duration during which the payments need to be cleared.
It’s important for the customer to keep track of their payment history. Customers can login to My Account and go to the Layaway area, make partial payments and see how much and when they have made these payments. All history is maintained.
Most web shops will not have every product on partial payments. You have this option with this extension where you can choose the products that can be purchased through partial payments.
Layaway Option on Product Page
Customer can choose on the product page if they are going to avail the down payment option or pay in full. When they select the installment option they will only pay the first installment set by the admin. A configurable tool tip allows customer to know how many payments they have to pay the total in.
Restriction for Order Status
Store owners can configure the extension to restrict/allow customer to pay installments for specific order statuses.
Admin can manage the layaway order with a separate panel provided for this. Admin has the facility to update installment by using a simple payment method. Strong configuration to change the label for Layaway payments
Supported Payment Methods
- Credit Card (saved)
- Check / Money Order
- Bank Transfer Payment
- Cash On Delivery
Magento Partial Payments Features
- Multi-Store Supported
- Multi-Language Supported
- Includes a Install/User Guide
- 100% Open Source.
- 45 Day Money Back Guarantee
- Free Lifetime Support
- Free Lifetime Upgrades
How it works
Customers will find an option to place order with layaway payment options on product page. On product page they will view. There is a message with drop down field “Yes/No”. They will select “Yes” to place their order in installments.
Users are able to view their layaway orders from their accounts. They can also pay installments from within their accounts.
This extension comes with the following sections at the backend which allows you to perform several configuration tasks;
This section allows you to view any order placed by customers with the layaway payment option. You can view the details of any order and enter the payment manually. This will send the email confirmation to user.
Manage Layaway Orders:
- Select “Yes” to enable layaway for all products otherwise select “No” and configure layaway settings individually for each product from within its settings. Visit Catalog -> Manage products from the admin panel, open up any product where you will find a new tab named as “Layaway”. Click on it to configure these settings.
- Add a label on product page such as “Do you want to purchase it on Layaway? “ This text can be customized, you can also add custom tooltip message.
- Select your desired payment methods.
Configure Installment settings:
- Set layaway charges, these are the service charges that you can set based on your choice. Enter any amount such as 10, 20 etc.
- Enter initial payment amount, this is the first installment when customer places an order.
- Define maximum number of installments with their time duration.
Product Faqs Ask a Question
Which payment methods does the extension supports ?AnswerPartial Payment is a system that will allow customers to pay in installments, and it supports almost all well known payment methods.
I want to know the flow, that how it works?Answer
First of all you have to configure it, e.g how much will you charge customers for first deposit and also can you charge extra fee. You can set these values as global and/Or on product level. Customers have to select an option shown on product page to purchase on Layaway. System will redirect customers to login if they are not logged In, after login the product will b added to cart and the totals will calculated according to your settings.
Once customer checkouts and places the order, you have to invoice that main order. Customers can see the layaway orders tab in their account, they can pay each next installment from their accounts. The installment will be placed as a new order. As soon you will invoice the installment order, the main orders remaining amount will be updated. Customers can pay installments until the time limit you have set or until the remaining amount is null.
Can you please confirm how the TAX / Vat is charged on an order.We need to charge just the TAX / Vat that is due on the 1st payment when it is made.then the TAX / Vat that is due on the balance is charged when the balance is paid.does your extensionAnswerCurrently the system charges all the taxes on the first deposit, but we can customize it according to your requirement. To split a tax so that it is paid according to percentage of first deposit and rest of it on next payments touch base with us through our support email and we can take your requirements in full and provide you with an estimate.
1 - If i understand it correctly, it creates a new order for each installment right?2 - I have paid the layby in my testing account twice, but it still shows the original layby account. why ?Answer1. Yes it will create a New Order for Each Installment. 2. You need to invoice the main order as soon it is paid, and then invoice installment order and it will update the order totals accordingly.