Credit Line or Credits for WooCommerceDeveloped by FantasticPlugins
Credit Line or Credits for WooCommerce can allow your customers to request credits which when approved by the admin, can be used by your customers to make purchases right away. Used credits can be repaid later..
How Credit Line or Credits for WooCommerce Can Help Your Shop
Increase Your Site’s Revenue
When your customers browse products on your site, there’s always a a chance that they will postpone purchasing because of insufficient funds. With credits, they won’t have to abandon their carts. They can purchase on the spot. What’s more, you can choose to charge interest on transactions made with credits. This can increase your site’s revenue.
Increase Customer Loyalty
Offering credits is a show of good faith and can help boost future sales from repeat customers.
Attract New Customers
Satisfied customers are more likely to refer new customers to your site.
How Credit Line or Credits for WooCommerce Can Help Your Customers
Your customers won’t have to postpone purchases due to insufficient funds. Plus, they won’t have to keep their payment credentials on hand at all times—they can use credits instead.
If you choose not to charge interest, your customers will only be responsible for repaying the regular price of a product.
Generous Repayment Period
You can offer customers up to 58 days from the date of purchase to repay the credits they used.
How Credit Line or Credits for WooCommerce Works
– Make sure the admin account is funded.
– A customer submits a credit application
– An admin approves the application and assigns a credit limit for the customer.
– Upon approval, the customer can manage their credits from a dedicated dashboard.
– The customer will also be assigned a fixed billing date and a repayment date.
– The customer can make purchases with credits using the “Credits Payment Gateway,” which will be visible on the checkout page.
– Once they place an order, the credits they used will be recorded in the unbilled transaction.
– The customer can place any number of orders using the available credits.
– The site will generate a bill on each billing date. It will include all the transactions made before the date.
– The customer must make the payment for the generated bill before the repayment date. In the meantime, the customer can continue to make purchases using available credits. These transactions will appear on the next bill.
– Once the customer makes the required payment on the existing bill, that amount will get added again to the customer’s available credit limit.
– This process will repeat every month.
– The admin can add funds to the account themselves or assign another user to add funds. There is a separate table where the admin can manage the funds.
– There is a credit application form for customers. The admin can restrict the form to specific customers and use a separate table to manage credit applications.
– The admin can customize a customer’s billing date and repayment date.
– The admin can choose to charge interest or not.
– The admin can review the credit transactions of individual customers.
– A late fee can be charged if a customer doesn’t make a credit repayment on time.
– There is a separate dashboard where customers can manage their credits. Customers can also review their credit transactions here.
– A separate payment gateway is available to customers approved to make payments with credits.
– The admin can enable multiple email notifications. Everything is translation ready.