Subscriptions are great but we specifically need “Installment Payments” meaning we want to offer an Expensive Course, say $1500, but that is too pricy for some of our students as a Onetime Payment.
Subscriptions do not work, because it is possible to get through our course in a week, and because of the CONCEPT the "Subscription" is ONLY for as long as you WANT TO PAY for our course or a magazine or Netflix, you just cancel.
We lose the value of the information we are providing AND we are seeing people using Front Loaded Credit Cards and then never putting money on them never intending to pay the subscription again.
The Banks and Credit Institutions see Subscriptions as "Pay as You Consume" the information or product, but the Installment Plans are "the Consumer is responsible for the Entire Set of Payments for the Information, Product, or Service."
This is a very distinct and legally enforceable difference that we would love for you to add to your service platform.
What we want is to break it down into different periods of “Installment Payments” to make it easier for our customers to purchase if they cannot or don't want to pay the larger Onetime Payment Option, so they choose to use an installment plan, where we will actually make more money for our course for the convenience of the smaller payments over time.
An example would be 12 Installment Payments of $150 on the $1500 Course and we would make an extra $300 for allowing the Payment Plan.
We need them to understand that it is not a “Subscription”, and they are responsible to pay all the “Installment Payments” and CAN NOT just cancel it on a whim, as this becomes a Credit and Small Claims Court Issue. VERY Different Process Legally and Financially for our Business.
SamCart does this using this Configuration in their Course Payment System by simply adding, in addition to the “Trial Period”, an “Installment Period”, as described below.
SamCart is not a robust Course Platform, and we are having some technical difficulties with them, which is why we are seeking another Platform.
Yet, you could add this the same way they did, by adding an “Installment Period” would be just like the Trial Period setting allowing for a few days, weeks, months, or years, by adding the same type of field and functionality for a number of “Installment Payments” using your current “Price per unit” amount that is also currently your Subscription Amount, which would also be used as the “Installment Payment Amount”.
Very little coding, but a HUGE Feature for your clients, specifically our 4 online Businesses and the Small Business Clients we build LMS Systems for.
Please put this as a priority as I'm sure many of your current and future clients would love to sell more expensive courses and have an Installment Plan to make more money while helping their customer's purchases be more attainable.