Introduction of Pricing Module

TYPES OF PRICING

For each product, you can define either a one-time price or a recurring price.

One Time Price

Recurring Price (Subscription)

OPTIONS WITHIN RECURRING PRICE #

When defining a price for a product, you will see several other options, especially for the recurring price. Here is the description of important settings

TRIAL – You can set up a trial period days for a recurring price. e.g. if you would like customers to try out your product for the first 30 days, you can define 30 as trial days. Customers will be asked to enter card details but they won’t be charged for the first 30 days. If they do not cancel at the end of the 30 days, they will be charged for subsequent months.

INSTALLMENT – You can offer a payment plan via the Installment option. e.g. if you would like the customer to pay 3 installments of $300 each, you can define a recurring price of $300/Month and enter 3 in the installment option. This will automatically charge the customer for the first 3 months.

REGULAR VS EXCLUSIVE – Exclusive prices are used for upsell/down-sell and order bumps only. These are also called OTO (One-time offers). Only Regular prices are shown on the checkout page.

Note – To use an exclusive price in order bumps, set the price as the very first price. You can drag and drop to rearrange the price order. The first price is picked up to show in the products added as order bumps.

MULTIPLE PRICES FOR ONE PRODUCT #

You can add multiple prices for one product. Prices are shown to users at the checkout. Users can choose any one price and checkout.

All regular prices are also captured in the pricing block available on the product pages such as sales, checkout and thank you page. This block is available in the default blocks, under the “Pricing” block category. You can use this readily available block and add more description to what’s included in each pricing package.

PAYMENT GATEWAY #

There are 2 payment gateways supported

Stripe – Stripe is supported for both One time and Recurring price

Paypal – Paypal is supported for a one-time price only. Here is a video link on how to connect your PayPal account

The payment gateway can be connected to the Payments module.

COUPONS #

You can add coupons in the “Manage Coupon” section. In order to create a coupon for a recurring price, you need to connect your Stripe account first.