Want to offer your product on a payment plan?
With ConvertKit Commerce, you can now split the cost of your product into a number of smaller payments 💸
What does that look like? Let’s say you’re a creator who offers a service like coaching. If you offer a package of six sessions, you can create a payment plan so your client gets billed in six installments, based on a time-period of your choosing (monthly, quarterly, or yearly).
Maybe you’re wondering how this is different from subscriptions. With payment plans, you get to choose how many times the subscriber is charged. With subscriptions, the subscriber is charged on a recurring basis until they cancel.
If you’re ready to create a product payment plan, let’s walk through the process!
How to create a payment plan
1. From your ConvertKit account, navigate to Earn > Products > + New Product.
2. Select Payment plans under Pricing Method:
3. Set your price, the number of installments, and frequency of payments (Monthly, Quarterly, or Yearly).
When you enter in your pricing details, our handy calculator will breakdown the payment costs for you:
4. From there, choose your product Fulfillment method (Digital Download, Newsletter, or Something Else):
5. Lastly, set your product’s Domain Name (so you can easily share your product link):
Now your product is set up and ready for payments! 🎉
Payment Plan FAQ
How long does a subscriber have access to a product?
If you’re selling a digital product or newsletter as part of your payment plan, the subscriber will retain access regardless of their subscription status. This means that once the payment plan is complete, the subscriber will continue to have access to the product.
Can I add a discount to a payment plan?
Yes! With installment payments, a discount would be applied to each payment. Here’s how to add a discount to your product.
What if a subscriber’s payment fails?
If a subscriber’s payment fails, we will retry their method of payment four times. After four retries, their subscription to the product will be canceled.
Can subscribers cancel their payments?
No, not at this time. If the subscriber wishes to cancel before they’ve completed all installments, they will need to reach out to you (the creator) so you can cancel the payment plan and process a refund if necessary. You can do this from within the subscriber’s profile:
If someone unsubscribes, will their payments stop?
If a subscriber unsubscribes from your email list (using the unsubscribe link on your emails), their payments will not be canceled. You will need to cancel the installments for them, which you can do from their subscriber profile (see previous section).