Debit cards, credit cards, cash, money orders, checks, instant deposit, and online payments—these are just some of the payment options available at checkout today. However, as digital commerce continues to evolve, so do payment options. One payment option that’s becoming increasingly popular today is a payment plan.
As a business owner, offering payment plans may sound risky, especially if you’re concerned that a customer may be unable to meet their payments. In this post, we’ll go over payment plans and installment plans, explain how to accept partial payments, discuss the benefits of installment plans, and more.