With LearnWorlds, you are able to sell your Courses and Bundles with Installments and create payment plans (available for the Pro Trainer plans or higher, and Stripe as your Payment Gateway).
Selling your courses with installments can help you gain more conversions as your future users will be more interested in an easier way to purchase. Installments will give the user the chance to opt for a more expensive course or bundle since it can be much encouraging to buy a product that can be paid in smaller and manageable amounts as the cost concern is then significantly reduced.
How to create Payment plans (Installments) for Courses
To create a Payment Plan:
1. Go to Courses → Select a course.
2. Set a price for your Paid course, under the Pricing tab.
3. Click on Create Payment Plan.
Select the type of Payment Plan (Simple or Advanced)
Decide whether the payment plan requires an upfront payment or not. If an Advanced Payment Plan is selected as a requirement for the purchasing of the plan, then some additional options will be displayed.
Simple Payment Plan
1. Number of Installments: In the simple payment plan, you can edit the Number of Installments that you will offer. They can be as many as you prefer, it is up to you!
2. Amount per installment: Set the amount of money that will be paid for each installment. This setting is available in both Simple and Advanced Installment Plans.
3. Interval: In this field, you can manage the interval of the payments. You can choose to charge your customer every 1, 2, 3, or 6 months or weeks.
Advanced Payment Plan
With the Advanced Payment Plan, you can request an upfront payment, choose the amount per installment, and even choose to ask for the first installment after the initial upfront payment, to take place after a specific date, or days after the initial payment.
1. Initial payment amount: In this field, you can adjust the amount of the initial charging, which will be paid upon the user’s enrollment.
2. Amount per installment: After users have paid upfront the initial amount, you can choose the amount per installment for the rest of the installments. You can also have a glimpse of the Total amount that the user will be charged. This field changes according to your price values.
3. First Installment, after the initial payment: In the Advanced Installment Plan, you also have the option to set the time that the first installment for the plan will be charged after the initial/upfront payment has been completed. You can decide whether the user will pay for the next installment in a month, or on a specific date, or some days after the initial payment.
General Installment Settings
a. Payment Plan Status: Change the status of the payment plan whenever you feel to. While preparing your plan you can leave it as a draft (it will be invisible) and publish it only when it is ready.
b. User can cancel the payment plan: Select if the user will have the ability to cancel the payment plan whenever they want from their account page by clicking on Cancel under the Installment Plan.
c. Plan availability: The period that the payment plan will be available. Click on the date field and select the period during which the plan will be visible as a payment option through the pop-up calendar. This choice is optional, so you can also leave the field blank.
d. Payment plan name: If there is no name added to the field, there will be automatically generated a plan name according to the plan’s settings.
e. Payment plan description: You have the option to add a description for the plan, which will be visible only in the payment zone.
f. Appearance order: The order that the payment plan will be shown in the drop-down menu below the Automatic Enrollment button and the payment options sections (in the Site Builder).
After creating your installment plan, or plans, you can have an overview under the Course Pricing Tab. In the right column, named Actions, you can find the buttons to copy the plan’s URL (arrow), to check the plan’s settings (gear), or to delete the plan (trash can).
- After having completed the payment plan set up, only specific fields (plan name, access, valid period) can be edited, as the rest of the settings will be locked.
- At the moment it is not feasible to create coupon codes for payment plans.
- When the author deletes a payment plan, if the payment plan has been purchased by a user then it gets archived (appearing in the list) otherwise it is deleted and eliminated by the list.
- When the admin attempts to manually unenroll a user from a product that is part of an active payment plan, then an alert is displayed informing the author about the product’s status. If the author proceeds with the removal of the product, the payment plan is canceled.
How to create Payment Plans (Installments) for Bundles
You can also create payment plans for bundles. The process is the following:
1. Navigate to Marketing → Bundles.
2. Hover over the Actions column.
3. Click on Edit Properties.
4. In the Properties window click the Create payment plan. You can then edit the new plan in the pop-up window.
5. Save the installment plan.
6. Edit your Bundle Page to promote the installment plan.
- In the Notification emails → Payment Plans, you can find the Payment Plans category, through which you can activate automated emails referring to specific relevant events.
- These emails can also be tracked on the Emails Log page (Report Center → Emails Log)
- You can track the following Installment Events in the Activity History:
Installment Paid: When the payment plan Starts and after each interval.
Payment Plan Completed: When the Payment Plan’s cycle is completed (Last Payment).
Installment Payment Failed: When a payment fails for some reason ( i.e. Card expired).
Payment Plan Canceled: When the payment plan is canceled (Admin manually unenrolls a user - User Cancels the payment Plan - The payment plan fails due to payment failures).
- In case the installment plan is canceled, it is not feasible to reinstate the recurring payments via the LearnWorlds platform. You will need to check the feasibility via your Stripe Account.