<h1>Offer Customers a Savings Plan to Buy Your Products</h1>
Savings Plan for WooCommerce helps users save for products you sell. When the buyer saves the total purchase price, it alerts them.
<h2>Types of Savings Plans</h2>
Fixed Installment
The user saves a fixed amount for a specified period.
Fixed Duration
The user saves for a product within a defined period. The user can save any amount, any number of times.
Indefinite Duration
In this Savings Plan type, there is no time limit. The user saves any amount any number of times.
<h2>Benefits</h2>
Convert potential prospects to customers
Offering a convenient way to save for future purchases within your site can help to convert potential prospects to customers.
Gain insights into future sales
Customers saving for purchases reveal future purchase intent. Track savings for products to predict purchase trends.
Attract new customers
Customers who benefit from savings plans may refer new users to your site.
<h2>How does it work?</h2>
Fixed Installments Savings Plan
<ul>
<li>A user lands on a single-product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they have to select the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available savings plans display in a dropdown menu.</li>
<li>Once a savings plan is selected, the following details will be displayed:
<ul>
<li>Number of installments</li>
<li>Installment amount and installment frequency</li>
<li>Plan the start date and end date</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button, the product will add to the cart. Once payment is complete, the savings plan opens.</li>
<li>Your users can access their savings plan from their My Account Page > My Savings Plan.</li>
<li>The user will manually pay the remaining installments. You can optionally enable Automatic Payments when your users pay using WooCommerce Stripe Payment Gateway.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-fixed-installment.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text">Fixed Installment Dates without Deposit </figcaption></figure>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-fixed-duration.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text">Fixed Installment Dates with a Deposit</figcaption></figure>
Fixed Duration Savings Plan
<ul>
<li>A user lands on a single product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they enable the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available Savings Plans will display in a dropdown menu.</li>
<li>Once a Savings Plan is selected, the following details will display.
<ul>
<li>Plan start date and end date</li>
<li>A field to input the savings amount</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button after inputting the savings amount, the product will add to the cart. The savings plan opens when the payment is complete.</li>
<li>Your users can access their savings plan from their My Account Page > My Savings Plan.The user will manually pay the remaining installments.</li>
<li>The Fixed Duration Savings Plan requires that the user saves for their chosen product within a defined time period. The user can save any amount, any number of times. You can optionally restrict the minimum or maximum amount of the savings plan.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-indefinite-duration.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text">Fixed Duration with a Deposit and Indefinite Payments</figcaption></figure>
Indefinite Duration Savings Plan
<ul>
<li>A user lands on a single product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they enable the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available savings plans will display in a dropdown menu.</li>
<li>Once a savings plan is selected, the following details will display:
<ul>
<li>Plan start date</li>
<li>A field to input the savings amount</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button after inputting the savings amount, the product will add to the cart. The savings plan opens when the payment is complete.</li>
<li>Your users can access their savings plan from their My Account Page > My Savings Plan.The user will manually pay the remaining installments.</li>
<li>In the Indefinite Duration Savings Plan type, there is no time limit. The user can save any amount, any number of times. You can optionally place a restriction on the minimum or maximum amount saved.</li>
</ul>
Product Fulfillment Process
<ul>
<li>Once all installments are paid, the user is notified by email. The emails contain links directing users to checkout pages.</li>
<li>On the checkout page, the user can review their shipping address and make changes if needed. Users can agree to pay shipping costs, if applicable, and place their orders.</li>
<li>Savings Plan for WooCommerce helps users to save for products sold in your shop and purchase them once they save the total price.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/savings-plan-email.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text">Savings Plan Completed Email</figcaption></figure>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/savings-plan-product-fulfillment.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text">Product Checkout After Saving the Money </figcaption></figure>
<h2>Requirements</h2>
Minimum PHP version: 5.6

Savings Plan

Savings Plan for WooCommerce helps users to save for products sold on your shop and receive them once the amount has been saved.

The Invoice Payment Option extension for WooCommerce enables you to add a new invoice payment method to let customers place orders without making any payment. Display the new payment option based on user roles, product in cart, order amount, quantity and other conditions.
You can rename the payment method to Pay Later, Pay by Invoice or give it any other name that suits your business requirements. Once the order is placed, the customer will receive the standard WooCommerce order email. If needed, you can also attach invoice PDF with the order emails.
After the order and payment confirmation, you can send a direct payment link using the default WooCommerce feature to let customers pay using the default WooCommerce checkout process. Alternatively, you can choose to receive payment via other channels such as banking checks, cash on delivery, etc.
<h2>Use Cases:</h2>
The following are use cases where this extension can be extremely helpful but not limited to!
B2B Orders:
When working with a company, they usually require an invoice before making the payment. Using this extension, you can allow your customers to place an order without payment. The admin can later on send the payment link to merchants to receive payment via WooCommerce default checkout.
Bulk Orders:
When placing bulk orders, the customers are sometimes reluctant to pay upfront and need assurance before paying. The extension allows them to place orders and once confirmed, they can proceed with the payment.
<h2>Features of Invoice Payment Method</h2>
<ul>
<li>Automatically creates new payment method “Pay by Invoice”</li>
<li>Customize title, description and default order status</li>
<li>Create multiple rules to show invoice payment method based on
<ul>
<li>Customers and user roles</li>
<li>Specific products, categories or tags</li>
<li>Minimum & maximum order quantity and amount</li>
<li>Country, state, city and zip codes</li>
<li>Shipping method</li>
</ul>
</li>
<li>Generate and attach PDF invoice with orders emails (New)</li>
<li>Separate email notification for customer and admin when order is placed using invoice payment option  (New)</li>
</ul>
<h2>Customize payment method label:</h2>
Once the extension is installed, you can configure the newly created invoice payment method from WooCommerce > Settings > Payments. You can customize the label and other details of the payment method. You can also configure the default order status for orders placed using this payment option.
<img class="alignnone size-full wp-image-8520897" src="https://woocommerce.com/wp-content/uploads/2021/09/invoice-payment-option.png" alt="" width="980" height="553" />
The invoice payment method appears along with other payment methods on the front-end.
<img class="alignnone size-full wp-image-8520912" src="https://woocommerce.com/wp-content/uploads/2021/09/Invoice-payment-option-frontend.png" alt="" width="980" height="538" />
<h2>Trigger Invoice Payment based on various condition:</h2>
You can create multiple rules to trigger the invoice payment option based on variations conditions like product in cart, order amount, user roles, country and more.
<img class="alignnone size-full wp-image-8520902" src="https://woocommerce.com/wp-content/uploads/2021/09/Create-restrictions-rules.jpg" alt="" width="980" height="439" />
While creating a new rule, you can configure the following options:
<ul>
<li>Add rule title</li>
<li>Select shipping method (enable invoice payment option for selected shipping method)</li>
<li>Enable invoice payment for virtual products</li>
<li>Enable for selected customers and user roles</li>
<li>Enable for specific cart quantity and amount range</li>
<li>Enable for specific product, product category and tags</li>
<li>Show to selected countries, states, cities or zip codes</li>
</ul>
<img class="alignnone size-full wp-image-8520901" src="https://woocommerce.com/wp-content/uploads/2021/09/Creating-new-rule-for-invoice-payment-method.jpg" alt="" width="980" height="2263" />
<h2>Invoice PDF</h2>
You can attach a customizable PDF invoice with the orders placed using this “Invoice Payment Method”. The extension offers 3 different PDF templates to choose from. You can customize the PDF content and color scheme to match your business needs.
Using the extension settings, you can trigger separate email notifications for both customer and merchants when an order is placed using the invoice payment option.
<img class="alignnone size-full wp-image-18734003700000" src="https://woocommerce.com/wp-content/uploads/2021/09/PDF-Invoice-1.png" alt="" width="980" height="912" />
<h3>Requirements</h3>
Minimum PHP version: 7.2

Invoice Payment Option

Order Now and Pay Later! Allow your customers to select invoice payment option during checkout to place orders. Add conditions to show invoice payment options for specific products, categories, countries, cart total, user roles and more.

Savings Plan vs Invoice Payment Option