Payment Terms Configuration

This process outlines the steps to configure and implement payment terms using advanced features, such as smart payment rules and automated reminders. By doing so, clients can manage payment conditions and establish rules for their customers before an order is placed. This setup includes conditions like verifying or pre-authorizing a card or charging specific advance payments.

Step 1

Begin by accessing the new payment terms feature, which offers smart payment rules and automated reminders. This feature allows clients to configure payment conditions and rules for their customers before placing an order, including verifying or pre-authorizing a card or charging specific advance payments.

Step 2

Additionally, clients can configure reminders that trigger email notifications when a payment is due, gently prompting for order payment collection. Start by setting up the payment terms by clicking "New" to define the desired payment term.

Step 3

For example, if the objective is to require a 50% advance payment for an order, define the available payment methods for this term.

Step 4

Ensure that any order under this term mandates a 50% advance through selected payment methods like ACH and card. To allow customers to bypass this requirement with custom payment methods such as check or cash, set up these conditions here.

Step 5

Select the channels to which these conditions apply, such as Wish Shop, Wish Order, or both. Consider four key conditions when setting this up.

Step 6

The initial condition requires the order to have a saved credit card. The second condition involves card verification with a $1 authorization to ensure its validity.

Step 7

Pre-authorizing the full amount ensures that the entire order amount is authorized on the card when added to the order. Focus on the mandatory advance payment, requiring a percentage upfront to place an order. Set timelines to define the percentage of the value to be collected by a specific date.

Step 8

For instance, collect 50% initially and the remaining 50% within the next 30 days. Preview the installments to understand the timeline. A reminder will be sent on the 29th day about the pending 50% collection for the specific order.

Step 9

With the terms established, click "Save" to finalize the payment term. Now, observe how the checkout process unfolds when this payment term is applied on the Wish Shop platform.

Step 10

Assign the 50% advance payment term that was created. The available payment methods for this advance payment are displayed. Two custom methods are selected to show that users can bypass the advance payment condition if allowed.

Step 11

If the advance payment is mandatory, the predetermined methods are set. By choosing to pay by card, an added card can be saved. Save and proceed to review the order.

Step 12

For an order valued at $180, a prompt for a 50% upfront payment using the card is displayed. A new card can be added if necessary. Click "Pay" to charge the order amount to the card, resulting in the advance payment processing and order placement.

Step 13

These are the terms and payment method utilized, with the transaction attached, confirming the process's completion.