Magento Deposit Payment Extension is an extremely useful module created for Magento community edition. This simple looking but elegant solution to more sales and traffic give an added advantage to the store owners as well as the customers. Itâs a win-win situation for both the parties involved. The buyers get to buy an expensive item in small installments or get to use a service for a long time paying subscriptions. The store owners get a regular customer.
Check out some of the features of this Extension:
- Easy installation and management of the extension.
- The deposit amount can be set by the admin or it can be a certain percentage of the grand total of the cart. E.g. 20% of the whole cart.
- Deposit payment extension can be enabled for specific products.
- All major payment methods and gateways are supported out of the box plus it could be customized to allow extra gateways.
- The rest of the amount can be paid from the customerâs account in the store in one or more installments after the first deposit. The remaining installments can also be auto collected by the admin.
- Number of installments can be set by the admin. It could be two (including the deposit) or more than two.
- This extension will allow twofold benefits. First is that the store owner will get returning customer as the buyer who paid the deposit will definitely come back again to pay the rest. The other thing is that customers also start buying more as it gives them the facility to pay in multiple but small amounts.