How to Setup Layaway / Installment Plans for Buyers

Hello,

I am analyzing the possibilities of starting a store with articles average price 2000 USD.
To prevent abandoned carts and to increase sales would like to offer a layaway program or deferred payment where customers pays monthly.

Do someone know companies that offer retailers the option to "sell" the order where the customer can directly receive the product, and that bank takes care of payment plan and collection of it?

Hi Hendrik and welcome to the forum,

It's a good idea I think, the more felxible your trading terms are, the easier it is to make sales. In regards to the setup, that's really something that you can handle yourself. Just develop your policy (terms and conditions of trade) and your payment structure, and then just manage it by effective book keeping.

PayPal will actually do that for you, if you can get approved as a credit merchant.

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Frank