How do I enable instalments for my paid course?
What does “pay in instalments” mean?
This splits the base pricing of a course over multiple fixed and equal amounts (instalments).
Only the first payment is required upon signing up for the course.
Unlike paying the course fee in full, learners might not be enrolled immediately if they choose to pay in instalments. This depends on the settings of the course provider. See below.
This payment option will only be available for course payments.
Why have we implemented this?
This expands our current range of payment methods available on the platform and can potentially increase conversion rates for course enrolment.
Higher conversion and enrolment rates: Instalment plans can attract more learners to enrol in courses by reducing the barrier to entry. Learners who may have been deterred by the upfront cost of a course are more likely to sign up when they have the option to pay in smaller, more manageable instalments.
Higher Revenue Potential: By offering instalment plans, course providers can potentially increase their revenue. While some learners may opt for a one-time payment, others may prefer to spread the cost over time, allowing the platform and course providers to capture a broader market and generate more income from course sales.
How does it work?
Setting up instalment plans for a class
To set up instalment plans for each class, go to Classes > Create new class or Edit Class
Select Paid class. Enable Allow learners to pay for my course in instalments. Select Add instalment plan
Select the number of payments
Select the payment frequency
You can add more than 1 payment option/instalment plan to each class but cannot be identical.
i.e. it’s possible to set up 2 instalment plans with the same number of payments and payment frequency. However, the enrolment settings will need to be different.
How does it work with the course base price and different currencies?
The instalment plan takes the base price of the course in different currencies and splits it into equal amounts according to the number of payments set.
Learners will see the instalment plan in their currency when they checkout. (same as paying in full)
For decimals and currencies without decimals, we will round up the cost.
Example: Splitting 50 JPY into 3 payments.
Each payment will be 17JPY. The final total cost will become 51 JPY.
Example: Splitting 100 AUD into 3 payments
Each payment will be $33.34. The final total cost will be $100.02 AUD
How does it work with discount codes and location-based pricing?
Instalments split the total cost of the course (with or without location-based pricing) after discount into equal payments.
Allow learners to be enrolled after making the first payment (most customers' use case)
This allows learners to be enrolled immediately after making the first payment. Note that the risk is on the course provider to ensure that the learner completes all payments.
If the learner has outstanding/failed payments, it is up to the course provider to decide what to do with the learner. They can choose to cancel the instalment and remove the learner.
Once the learner has been removed, they will not be able to enrol again without paying.
Allow learners to be enrolled only after all payments have been completed
This allows learners to be enrolled only after they have finished making all payments in the instalment plan. This minimises risks and prevents complications in the event of missed payments but learners already have access to course material.
Enabling/Disabling instalment plan
Course administrators can disable instalment plans at any time. When an instalment plan has been enabled (and the course is online), it will show as one of the available options in the payment form until the course is closed for enrolment.
If the course has a set Closed for enrolment date, and the learner can’t be enrolled until all payments have been completed, and the last payment date of the instalment plan is later than the enrolment closing date, the system will display an error to prevent the learner from choosing this payment method.
eg. The Closed for Enrolment date for Course A is 30 May.
Learners can’t enrol in the course after they’ve finished all payments
The instalment plan is still available on 28 May.
On 28 May, a learner selects a 4-payment weekly plan that ends in Jun.
Because the plan will end later than 30 May, the system will display an error to prevent the learner from choosing the plan.
When all instalment plans have been disabled, learners will no longer see the Pay in instalments option when they sign up for the course. This will not affect the payment schedules/plans of learners who have already signed up with instalment plans.
How does the payment form look like with instalment plans?
Before entering payment details, there will be a step to select Pay in full or Pay in instalments
Learners will be able to select one of the available instalment plans.
Learners will select a payment method (credit card or Google Pay) and check out as normal.
Where can course staff find instalment plan information about their learners?
Go to Manage Subscriptions > Course marketplace
There will be a new section called Instalment plans
What do the instalment plan statuses mean?
Active - An instalment plan becomes active when the 1st payment has been made.
Past due - Payment has been attempted but failed.
Completed - All payments have been completed
Cancelled - The instalment plan has been cancelled.
Where do learners manage the instalment plans that they have signed up for?
Go to top bar > Manage payments. This menu item and page will only show for learners with instalments.
