Deferred payment

Page: Settings >> Delivery and payment >> Deferred payment
You can offer your customers deferred payment for various payment methods. You can activate these in the general settings of the corresponding payment method in the Deferred payment possible option button; see General properties for payment methods.
The individual fields for deferred payment have the following meanings:
Table 4: fields for deferred payment

Field name
Description
Field type
Example
Text for "Financing" stage of ordering
This text is displayed on the web site using the table of financing options. Provide your customers with all the information and notes relating to your deferred payment options.
Text field
We can offer deferred payment options for your order. Select ...
Currency
Currency for which you set the monthly rate;
One table per currency
Drop-down menu
 
Minimum amount
Order amount, above which you offer deferred payment
Entry field, numeric
1000
Interest rates for the number of monthly payments
Annual interest rate for term;
The possible durations are shown in months in the column headings.
Enter values for the durations you offer.
Entry field, numeric
5

Note: For interest rates, simply enter the annual interest rate; the system calculates the monthly amounts.
The customers will be offered a selection of the available financing models in the order process. In the order summary, the financing selected is displayed.
In the Payment Method line, in addition to the deferred payment parameters, the additional amount that the customer must pay for using this payment method is indicated.
The instalments are calculated according to the following formula:

Here, Z is the duration in months and P the order value in the currency indicated.
In the ordering process, the APR is also specified along with the interest rate and monthly instalment. This is the compounded calculation. The procedure is defined for Germany in the German Price Indication Ordinance (Preisangabenverordnung – Pangv).