The payment plan will enable you to establish acceptable criteria in order for the Customer (the person financially responsible for payment of the event) to defer their registration fee. The criteria are established through determining a Last Acceptable Collection Date, Down Payment Requirements, and an Installment Payment Service Charge.
The ‘Last Acceptable Collection Date’ is the deadline for future payments. Therefore, should a Customer select ‘Payment Plan’ they will not be allowed to have a future payment exceed this date.
The ‘Down Payment Requirement’ will establish the amount (either a percentage or dollar value) of the immediate payment minimum required for a Payment Plan. You may also elect to set the down payment criteria on a per customer or per registrant basis. The down payment minimum is only valid with Credit Card Transactions as this is the only payment type with the ability for immediate billing.
An ‘Installment Payment Service Charge’ may also be added as part of your Payment Plan criteria. This fee will be added to the cost of the registration should a customer elect to split up their registration fee into installments. The charge would be applicable per installment.
The split payment is a sub-section of the Payment Plan Option. In addition to offering customers the option to defer the registration fee through the Payment Plan Option, you may choose to allow customers to split the cost of their registration up into equal monthly installments. The first monthly installment would be payable 30 days from their registration date. Should you elect to have a ‘Minimum Split Value’ it would only allow a customer to elect to split up their registration cost should their registration meet or exceed the predetermined value.
The split payment option does coincide with the Last Acceptable Collection Date. It will not allow a customer to elect to split their payments if a future payment due date will exceed the Last Acceptable Collection Date.
Payment Plan is an optional addition to Event Manager. There is no extra fee to set up an event with this option, but the basic Event Manager Setup screens will not show this as an acceptable payment type until you contact client services to request that we enable this feature on your account.