Magento Deposit Payment

This module will equip your online store with a new feature to let your customers pay in multiple installments for a single order. It is specifically designed for the ease of payment for the customers and a new way for you as store owners to attract new customers and increase your selling. Although putting up discounts and special offers is still a large part of marketing but wouldn’t it be awesome if you didn’t have to pay discount and still widen your customer base? Well, Indies' Magento Deposit Payment module helps you do just that! Buyers pay only a part of the whole price of their order and the rest of the payment they can pay later.

How it works?

Once you have installed the Magento Deposit Payment Module in your magento store you will be able to configure it for various options from admin panel. When a customer would like to buy a product from your store he will be given a choice to either pay whole amount of the order or he can pay part of the payment. This initial amount that the customer pays at the time of checkout can be set by the admin.  The remaining amount will be collected by you some days later. So the customer pays the whole amount over a period of days instead of all at once. This will motivate buyers to pay large orders and store owners will enjoy huge increase in sell.

Details like the remaining payment information and due date for the next installment can be accessed in the customer’s account by him.

Why to Use?

By using Magento Deposit Payment module, your customers can have option to purchase multiple products simultaneously as they don’t need to pay the whole amount at an instant for their purchased products. So they can manage their budget among different products without any financial limitations. So ultimately your online store business performance will be improved.

Features of Magento Deposit Payment:

Admin:

• First deposit by customer can be a certain percentage of the whole order or it can be a specific amount set by the admin. For example 30% of the total amount as deposit.
• Deposit payment extension can be set for the products of your choice.
• Admin can set the brand label to this module and according to that it will be displayed on the Front-End.
• This module is compatible with all major payment methods and gateways. We can customize the extension for special gateways.
• The second and each next installment can be paid by user from their “My Account” section or can be set as auto collection by admin.
• Admin can set the number of installments to provide the customer. It can be either two (first and the rest of the amount) or it can be more than two.
• Payment in installments facility will increase returning customers for your store as well as customers will be encouraged to buy multiple products at once instead of one product at once due to the relaxation in payment method.
• Facility to get Carbon copy of each email to be send to the customers. This can be configured from Main configuration.
• Email will be automatically send for Order Confirmation (when buyer purchases any product), Installment Reminder (Reminder email for next installment) and Installment confirmation (when buyer pays next installment)
• Deposit payment can also be limited to whole cart price total having more than x amount of price.
• Admin also can set the number of days, weekly, or monthly payment system for customer to pay the rest of the price of the product he/she bought.
• Admin will have discount calculation option to deduct discount from first installment or distribute that discount equally in all installments.
• Supports following payment gateways:

                       PayPal Standard
                       Authorize.net
                       eWay
                       ATOS/Sips Standard
                       Sage Pay Suite - DIRECT Integration
                       iDEAL Checkout - iDEAL

  Note: For the additional special payment gateways, some customization might be needed. We will be happy extending our support for that.

Buyer:

• Buyer can have facility to pay whole amount in installments for their purchased products.
• Buyer can have Discounts on Out of stock products if admin has defined that.
• Buyer can see the calculation of amount to be paid now as he/she selects option to use Deposit payment.

Q: I want to allocate different deposit amount for different products meaning I want 2% in one product and 8% in another. How can I do that?
A: No. you cannot charge different deposit payment for specific product. Although you can enable or disable the entire extension for specific products you cannot do so for the first installment alone. If you need this facility created you can contact us for customization.

Q: After the order is placed with first deposit payment how will my customer pay the remaining amount of order?
A: The remaining amount of the order can be paid from the customer’s account page. There is a link dedicated to the orders placed by customer and the remaining amount notifications. The customer can select the particular order he wants to pay for and complete the order.

Q: Will this extension affect my core magento code?
A: No. It will not change or modify any core code in your magento installation. The extension is developed by rewriting the core files into local module and therefore completely safe to use. It is compatible with the stores that maintain the standards of magento coding.

Q: Once a customer pays the initial deposit can I send automated reminders to him about the remaining payments?
A: Yes you can set a specific duration of days in which the customer has to pay the full amount of the order placed. You can send reminder emails of installments using a cron job.

Q: Does deposit payment support all magento payment methods and gateways?
A: As of now deposit payment extension has been tested okay with

• Authorized.net,
• eway and 
• PayPal Standard
• ATOS/Sips Standard
• Sage Pay Suite - DIRECT Integration
• iDEAL Checkout - iDEAL

Note: If you require any additional payment methods we will be happy to customize the extension for you at additional cost.

Q: Is it possible to provide different payment method for regular payment and deposit payment options?
A: It is not part of our regular version of deposit payment but yes with customization you can have two different payment methods.

Q: Is it possible for a customer to pay half amount of the order through deposit payment and the other half by cash on delivery?
A: Yes it is absolutely possible to do with deposit payment. You can also select specific products to work with deposit payment.

Q: Can I set any type of credit limit for a customer?
A: No. Deposit payment does not support any type of credit limit as of now. But we can customize it as per your requirement.

Q: How can I offer discounts to my customers using deposit payment module?
A: Yes you can set discount amounts for order amounts using deposit payment extension.

Q: Does deposit payment extension allow order creation from admin side?
A: Yes it is possible. We offer an added option of purchase if you need such feature added in your module.

Q: Can I use deposit payment module on any of my test domains or IP?
A: Deposit Payment extension comes with single domain license. You can’t use the module on domain other then the official licensed domain. You also won’t be able to use module with any IP as that will not show the domain name. However you have following test domains available for your development and testing work:
      test.domainname.com
      demo.domainname.com
      dev.domainname.com
      domainname.com/test
      domainname.com/demo
      domainname.com/dev

Q: After the deposit payment can I have the remaining payment captured automatically?
A: It is possible to enable auto capture feature in deposit payment extension. Note that it can be used only with those payment gateways that support auto capture. One such payment option is authorize.net. You can contact other payment gateways to know if they will allow such feature or not. You can then contact us to customize your deposit payment module for such payment gateway be included in your extension.

Q: Will I be able to run this extension on my Magento pro and Enterprise store?
A: Yes with our added support you can use it for pro and enterprise magento stores.

Q: Can I use Google analytics to track the remaining installments after my first  deposit is paid?
A: No. Google analytics will track only the full amount of the entire purchase. You won't be able to track each installment.

Q- Whether allowing zero initial payment in Deposit Payment extension?
Ans- To work with our Deposit Payment extension, you will need at least $1 or 1% of the order total as the first installment for the payment. Deposit Payment module doesn't support zero initial payment. But if you require this functionality then we will need to customize it for you.

Q- Whether all the features are provided which are demonstrated in demo store of Deposit Payment?
Ans- No, the features provided are highly subjective to your particular purchase of extension. We have installed the complete package, which is Deposit Payment 2.1.2.3.4.5(2.0+2.1+2.2+2.3+2.4+2.5) in our demo store. You can get the information about the particular features integrated in particular extensions by visiting Version Log tab.

V 1.X (Out of sale from 22nd of June, 2012)

This version is compatible with discount rules. This version will be given to all the customers who purchased it on or before 22nd of June 2012. All the customers can upgrade to our newer version at any time. Contact our customer support to know more about upcoming updates and upgraded versions.

V 2.X (Out of sale from 16th of April, 2013)

The version 2.X is not being sold after 16th of April 2013. we have included new fetures like branding, discouts, tax and others and restrcutured all the add-ons of version 2.X in to newer 3.0 version. All 132 customers who are using this version of Deposit payment module will have option to upgrade the extenions to latest 3.0. Please contact us to know more about support and upgrade policy.

V 3.0
-    Guest checkout using deposit payment method
-    Deposit payment method can be set as optional
-    Deposit payment is applicable three different ways now, on all products, on selected products and on out of stock products
-    Set deposit payment to be  enabled on a minimum amount of  order total
-    two installments are accepted from the buyer
-    Payment option available in unlimited installments now.
-    A surcharge amount can be added to the installments and such amount if added can be set by the admin form the store's administration area
-    As a promotional mechanism to buy out of stock products buyer can be offered a discount on the order. The amount of this discount can be a percentage of total order amount or a percentage of the first installment amount.
-    Automatically receive the next installments (auto capture depends on the support provided by payment gateways used by the store)
-    Added the configuration option to add deposit payment facility to be enabled for selected customers or selected group of customers.
-    A credit limit can be set for such customers or customer groups for which the deposit payment facility is enabled beyond which they cannot keep amount pending.
-    Deposit payment facility can be applied to orders from admin area directly on specific order without having to use it from the store front.