In SureCart, we offer various ways to set up payment types for your products. This guide will help you figure out these options so you can set things up the way you want.
Whether you’re selling products with one-time payments, installment plans, or subscription services, SureCart has you covered.
For example, if you’re selling subscription-based services/products, you can set the pricing to subscription and collect recurring payments. Or if you’re selling a physical product, you can set the pricing as one-time so you only receive the payment once.
Each payment type works differently and has different settings that we’ll go through step by step.
So let’s understand some of the payment types that you can set for the products that you sell.
What is the Pricing in SureCart
So basically, pricing is determining how much customers need to pay for your products. It’s a crucial aspect of your online store setup that influences how you sell to your customers.
Pricing tells what would be the overall cost for any product. While setting up pricing, you can include paid product trials, set donation pricing for the product, collect taxes, etc.
With SureCart, you can collect one-time payments, recurring payments, donations, etc., and create prices accordingly on your store/website.
What are the Different Payment Types in SureCart
Payment type decides what would be the billing period or frequency of your pricing. It can be subscription-based, one-time, or installments.
SureCart offers three main types of payments: One Time, Installment, and Subscription. Let’s understand these types individually.
One-Time Payment Type
This is like when you buy something in one shot. You tell people the price, and they pay that amount all at once. Pretty straightforward. With SureCart, you can even give them the choice to pay a bit more or less if you want to be nice.
One-time pricing is particularly effective for products or services that don’t require ongoing maintenance. Examples include software licenses, digital downloads, unique artworks, or exclusive courses. By implementing this strategy, businesses can streamline the purchasing process and appeal to customers seeking a straightforward transaction.
Imagine you have a product available for purchase in your store, such as a T-shirt, where customers can buy it by making a single, upfront payment. This payment method is referred to as “One-Time Payment.”
Why Paying Once is Great:
Easy and Clear: When you pay once, you know exactly what you’re spending. No surprises, just a straightforward deal.
No Hassle: Paying once means no worries about monthly charges. It’s simple and less stressful for you.
Keep Customers Happy: If your product doesn’t need updates all the time, paying once can make customers happy.
In the Add Pricing popup, you can define the one Price of the product, along with the other pricing options as well, such are:
Allow customers to Pay what they want – Enabling this option allows your customers to pay what they want instead of a predefined price.
Tax Included – Use this option if Tax is included in the pricing
Installment Payment Type
Imagine buying something and paying in chunks. With this, customers can break the cost into smaller payments over time. You decide how often they pay and how many times. In SureCart, you can also give them a trial period or ask for a little extra fee at the start.
Let’s say you’re offering a high-end phone priced at $600 in your store. Typically, you could opt for a one-time payment method to collect the full amount for this phone at once. Alternatively, you could offer pricing with an Installment Payment Type, allowing your customers to pay the total amount of $600 in equal installments over a specified period, such as 6 monthly payments of $100.
Installments work well for products that might be a bit pricey, but you still really want them. Think of things like gadgets, furniture, or even a stylish wardrobe upgrade.
Why Installment Payments Are Awesome:
Budget Friendly: Instead of paying a big amount at once, installments let you split the cost. It’s like paying a bit every month.
Get It Now: If you want something but don’t want to wait, installments let you grab it now and pay over time.
Flexibility: Life happens, and installments understand that. It gives you flexibility without stressing about a lump sum payment.
Subscription Payment Type
Ever heard of “Subscription Shopping”? It’s an easy way of buying things online. Instead of paying all at once, you pay a little bit regularly. Let’s check out why this can be a great option!
Subscriptions make shopping a bit different. It’s like having a little bit of joy regularly instead of all at once. Great for things you use often and love surprises. Just think about how often you need the product, see what other shops are doing, and tell your customers why subscribing is the way to go!
Let’s say you’re selling a music service for $10 a month, and you let them try it free for the first week. Just like Spotify or Netflix subscription. With SureCart You charge a fixed amount on a regular basis. You can offer trial periods or charge additional setup fees too.
Why Subscriptions Are Cool:
Spread the Cost: Instead of one big payment, subscriptions let you spread the cost. It’s like paying a bit every month, making it easier on your wallet.
Constant Goodies: Some subscriptions give you new stuff regularly. It’s like a surprise gift that shows up, making it fun and exciting.
Convenience: Subscriptions often mean you don’t have to remember to reorder. The product or service just keeps coming!
In the Add Pricing popup, you can create a subscription pricing, along with the other pricing options as well, such are:
Setup Fee – A setup fee is similar to a small initial payment. It is the amount you pay when you start using something new. It’s like paying a little extra to ensure proper setup.
For example, if you’re signing up for a new web hosting service to create your website, you may have the option to pay a one-time setup fee of $20.
Free Trial – A free trial is like a “try it out” offer where you can provide something, such as an app or service, for a limited time without charging any money.
For instance, if you want to offer an online course with a 15-day trial period, you can allow customers to access the course without any upfront charges.
How to Setup Payment Type
To set up payment type for your products, simply click on the Add Price button on the Product Page and follow these steps:
One Time Payment Type
- Name the product price as per your choice.
- After adding the price, optionally, set a compare price (original price).
- Enable the “Pay What You Want” toggle if desired, with a range of minimum and maximum amounts.
- Toggle the “Tax is Included” option if you have tax included on this price.
- Save the price by clicking the “Create Price” button.
Here’s an article explaining the steps in detail.
Installment Payment
- Choose the charging interval (day, week, month, year).
- Define the number of installments/payments.
- Add a setup fee and set the trial period(if needed).
- Decide whether to charge the setup fee during the trial.
- Include taxes in the pricing and toggle the option if required.
Here’s an article explaining the steps in detail.
Subscription Payment
- Set the subscription price and compare the price.
- Select the interval for recurring payments.
- Add setup and trial fees if desired.
- Include taxes in the pricing and toggle the option if required.
Here’s an article explaining the steps in detail.
For more detailed setup instructions, please refer to our comprehensive documentation on setting up a Subscription plan.
Creating Multiple Pricings for One Product
In SureCart, you can create multiple pricing for the same product.
For instance, if you’re selling laptops, you can create a one-time payment type and an installment payment type and share them with your customers as a purchase option. So your customers can choose the payment option at their convenience.
You can simply follow the steps mentioned above to create more than one pricing for the same product.
So that covers everything that you should know about Payment Types in SureCart. Hope this was helpful. If you have any questions, please feel free to reach out to us through our Support Portal.
