Who likes installment payments?

4 replies
I notice Paypal offers installment payments (aka split transactions). For anyone who's tried them--did you find them to work well or were they a waste of time?
#installment #likes #payments
  • Profile picture of the author YonghoShin
    You will almost always get more sales by offering payment plans, vs single transaction because you capture the segment of your prospects who want your product but either can't afford the single-price or don't consider it to be as valuable as the price you mentioned.

    Keep in mind that the pool of customers you get with payment plans will not be as good as single-pay, because single-pay customers typically tend to have more discretionary income (thus are comfortable paying a large amount at once) and there is less risk of having a denied credit card rebill.

    (But also keep in mind that a multi-pay buyer is better than no buyer, which is what you would get if you do not offer a payment plan)
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  • Profile picture of the author AdwordsMogul
    You could try something like $1 trial and the rest later. When I tried this on $37 product, I got a few extra sales and a couple guys who wanted a refund on the $1.

    You will make more sales but also attract a few "thieves" as well. Then there are people who simply don't have the money at the time of the next payment. So PayPal may retry them a couple of times (I'm not sure how that bit works though)
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  • Profile picture of the author clever7
    I give to my customers the alternative to pay for their ebooks in monthly installments through Paypal, and many of them like this option. Paypal automatically collects the installments each month.

    It’s a good idea to give to your customers this possibility, especially if you are selling expensive products. Many people buy my entire ebook collection at once only because they can pay for their ebooks in monthly installments. I never had any problem. Everybody pays each installment.
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    • Profile picture of the author belegeuseman
      Does anyone use DigiResults to setup an installment payment?
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