Layaway is Magento Recurring Payments extension which allows customers to benefit from paying the amount of any product in installments rather than by paying full amount at once. By purchasing this extension you get the ability to setup up installment options for customers very conveniently. Here is what you can configure to setup Magento partial payments options .
Layaway Magento Features:
Define Layaway charges, when customer chooses Layaway as payment option, you can introduce your service fee but it is not mandatory, it can be set to zero.
Set up initial payment which customer will have to pay upfront e.g. 20%, 30% or 0t;c.
Define maximum number of instalments, instalment period units such as days, weeks, months and set maximum period for instalment such as 1 month, 3 months etc.
Enable Magento layaway payment options for all products or any specific product. Magento
Recurring Payments extension offers special feature in the configuration for Layaway settings. You can turn these settings off and then configure them for any specific product from its settings page.
A drop down with custom message is shown on product page such as “Do you want to checkout by using Layaway?” Customers who wish to pay partial payments will select “Yes” which will automatically place order with the layaway fee (if any) and first installment. For example of total order amount is $100. Suppose you configured $10 as Layaway fee and 20% of the order amount as first installment.
Then order will be placed for the amount of $30 (shipping charges will be included if set).
A configurable tool tip feature is provided which can be used to inform customers about Magento Partial payments module. You can add desired text as a comment which will be shown as a tool tip.
Magento Layaway extension supports 10 payment options such as Cash on delivery, Adaptive Payments, Credit Cards, Bank Transfer and few more.
Recurring Payments Magento extension provides option to configure payment options through product settings or from the configuration.
Customers can view layaway orders in their accounts and they can pay their installments easily from their accounts as well. In this case customer and store admin both are notified about the payment.
To manage Magento recurring payments orders you get a dedicated “Magento Layaway Orders” section in the backend. Admin can view all the installments which have been paid by customers.
View For More Details: http://www.fmeextensions.com/magento-layaway-partial-payments.html