Payment Term Configuration and Checkout Process

This document outlines the procedure for setting up payment terms and understanding the checkout process when these terms are applied. It provides detailed instructions on defining payment terms, specifying conditions, and managing payment timelines to ensure a smooth and efficient transaction process.

Step 1

Define a new payment term by selecting "New". For instance, label it as "Advance 50%," which indicates a requirement for a 50% advance payment for orders.

Step 2

Specify the payment methods available for this payment term. Ensure that a 50% payment is collected at the time of order placement using methods such as ACH and card. Additionally, allow customers to bypass this requirement by selecting custom payment methods like check or cash.

Step 3

Set the conditions for the payment term. You can choose to apply these conditions to specific channels, such as Wish Shop or Wish Order, or both.

Step 4

Establish four key conditions. First, ensure the order has an associated credit card. Second, verify the card with a $1 authorization to confirm it is valid and saved.

Step 5

Pre-authorize the full order amount on the credit card to be added. Lastly, enforce a mandatory advance payment, which requires the user to pay a specified percentage upfront before placing the order.

Step 6

Configure the payment timeline by determining what percentage of the order value needs to be collected by specific dates. For example, set a 50% collection within a specified timeframe, with the remaining 50% due in 30 days.

Step 7

Review the breakdown of the first installment, its timing, and the subsequent installment details.

Step 8

Preview the payment timeline to understand its operation. A reminder will be sent on the 29th day to collect the pending 50% for the order. Finalize by clicking "Save" to set the payment term.

Step 9

Examine the checkout process when a payment term is assigned to an order.

Step 10

On the Wish Shop platform, assign the newly created payment term "Advance 50%".

Step 11

Identify the core payment methods for collecting the advance payment. Two custom methods have been selected to demonstrate that users can bypass the advance payment condition if desired.

Step 12

If users are required to pay upfront, these two methods will facilitate the transaction.

Step 13

Select a card, save it, proceed to review, and observe the order value of $180. On placing the order, a 50% upfront payment is requested using the card.

Step 14

Add a new card if necessary. Upon clicking "Pay," the order amount is charged to the card. This process is demonstrated below.

Step 15

After clicking "Pay," the advance payment is collected, and the order is successfully placed.

Step 16

Review the payment terms and methods used. A transaction record is attached for reference.