WooCommerce Deposits Extension
WooCommerce Deposits Extension : WooCommerce has a great plugin for subscriptions products and can be a very good tool if you are selling services which needs to be renewed every month or week or years. But what if you want to sell physical product and want to charge your user in installments? WooCommerce as such on its own does not provide this function and for the same they have come up with this great extension called WooCommerce Deposits extension.
This will give you a great new way to offer your customers a great payment solution. Suppose you are selling some high end items and many of your visitors are reluctant just because of the price of item. Now using this extension, you can offer them to buy this item by just paying some small deposit initially and remainder in equal payments set by you.This is like bank loans and EMI. They can pay you small down payment and remining amount can be charged in equal recurring payments.
WooCommerce Deposits is a very powerful plugin as it will give you full control. This will allow you to control payment plans like initial deposits, payment term and percentage installments. Even you can add interest on the recurring payment if you wish. Plus you can select which products to have this payment plans which to exclude. It completely fits with existing woocommerce checkout process and will guide your buyer to checkout giving them all the required information they need.
Currently only Paypal Standard and Stripe are the payment gateways that can be used with WooCommerce Deposits. But in future many more payment gateways will be added to this list.