Installment payments allow you to set up a payment schedule for your camps or classes. For camps and classes that have higher prices, this can help drive higher registration rates and ease the financial burden on parents.
An installment schedule can be set up while you are creating a new session, or by editing an existing session. On the session's settings page, there's an option for "offer an installment plan" below the "Pricing", as shown in the above screenshot. This will show you the options to set up an installment plan, as shown in the below screenshot.
You can enter one or more installment dates. This outlines the payment schedule.
NOTE 1: Updating the installment dates of a session later applies only to future registrations, it does not apply to existing registrations of the session.
NOTE 2: The installment plan will not be offered if the installments would be less than $10. This policy helps prevent providers from losing a significant portion of their fee to the $0.30 per-transaction processing fee.
This is the price parents pay at the time of checkout, plus any school management fees (if any). You can set this to any price, but no more than the Program’s set price. Whatever amount is left over, after the Down Payment price, our system will automatically calculate the remaining payment prices based on the number of installment dates you set above.
NOTE: You may want to make sure to charge a down payment to be able to retain a cancellation fee (according to your cancellation policy). Requiring a down payment will also guarantee the credit card is valid.
Additional Fee for the Installment Plan:
If you charge an additional fee for using the installment plan, it will be added to the total before the total gets divided into separate payments. This fee does not affect the school management fee, nor any taxes (if any).
Prefer the Installment Plan:
If you select "Prefer that parents use the installment plan", the plan will be selected by default during checkout. Parents are required to follow the payment schedule if the installment plan fee is zero. If you choose to charge an additional fee for the installment plan, parents will get the choice to opt out of the installment plan. If you select "Prefer that parents use the installment plan" and don't enter any installment dates, our system will ignore the request because no installment dates have been specified.
If you are setting up a later payment date in case the class does not meet the minimum seat requirement, you will need to select "Prefer that parents use the installment plan" with the installment plan fee = zero. This will require the parent to use the installment plan option at checkout.
NOTE for late enrollment: If the price for the session wasn't changed before the parent enrolls, the parent will pay the full amount no matter when they enroll their student in. If a parent registers for the class after the first installment date(s), their credit card will be charged automatically for the missed payment(s) the next day of their purchase. The following payments will be charged on the scheduled payment collection dates.
Refunds: All installment charges and payment dates get locked in at the point of purchase. The refund amount is first used to reduce future payments, then to return money from past payments.
What happens if the credit card fails for an installment payment: 6crickets does daily retry and notification until success.
How secure is the customer's credit card information: Credit card info is stored by Stripe, the credit card processing firm 6crickets is integrating with.
Stripe has been audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry.