What are the best practices with regards to payment in terms/payment plan?
AutoCollect is a great tool to let customers pay in multiple payment terms. E.g. a ticket for a festival costs € 300. As convenience to the customer they can split the payment in 3 payment terms of € 100 each.
Use iDEAL for the first payment term;
Use direct debit for the other payment terms.
Charge one payment term per month at the end of the month;
Use the IBAN from the iDEAL payment for the following direct debits;
We see in general payment plans with a maximum of 3 payment terms, paid in 3 months time;
Set up the payment term as such that the last payment term is due 2,5 months before the start of the event;
AutoCollect automatically split the total amount in equal amounts;
List payment in terms in your general terms and conditions and also state what you do when not all terms are succesfully paid at the due date.
Best practice for unpaid terms
AutoCollect automatically follows up on unpaid terms via a direct debit retry and/or a SMS or e-mail with a direct payment link.
If at the due date not all terms have been paid in full, we see in general that a ticket is cancelled and the first payment term is used as cancellation fee. Any other terms should be refunded back to the customer.