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How to Take Deposits on Shopify
Last modified: December 21, 2023
If you’re looking to run a rental business, or you want to offer customers a chance to make a deposit and then complete the payment later on for a product, then you will need to add in some unique options for taking a deposit. Here are some of the ways that you can do this.
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Step 1 – Log In
Log into your Shopify account and access your website.
Step 2 – Payments
Go to the payments settings of your website.
Step 3 – Payment Option
In the Select Payment Options, click on the option that says ‘Split Payment’. Within the first payment option, you need to enter the value of the first payment for the customer. You can then select the payment method and then select the ‘Complete the Payment’.
Within the next stage, you need to enter the amount that the customer is going to pay and then select how they’re going to pay and the ‘Complete the Payment’ option.
When you’re done, then you can click on the ‘Done’ option.
What Happens When a Customer Makes a Deposit
When the customer makes a partial payment, then the order they have has partial payment listed on the orders list. This allows you to see who has completed the order’s payment and who has not. This can be good if you’re waiting for payment before you release the finished product or service.
When the customer makes the final payment, you can finally mark the payment as complete, and then you can complete the fulfillment of the order (or mark it as completed).
When will you want to Take Partial Payments or Deposits
There are numerous reasons why you might want to take partial payments. If you’ve got high ticket products, then you can use this option to get customers to commit to your products before completing the purchase later on. You might also want to have partial payments when you offer a service and would like the customer to make a payment before you start work.
Are there Other Options for Taking Payment Plans?
There are other options if you’re looking to create payment plans for your business. For instance, you can use an app that can offer you the same functionality but can allow you to do this over just a few products/services.
The payment plans can also make the process more automated.
A deposit can also be used for you to accept payments from numerous payment sources (credit cards or different customers). This gives your customers more choice without making it more challenging. One of the apps that you might want to use is Split Partial Payments.
Another option is to install the Klarna app that allows your customers to have a pay now and pay later scheme on their website. It is easy to install and can help you convert more people on your website into customers.
Conclusion: How to Take Deposits on Shopify
If you would like to take deposits or to have split payments on your Shopify store, there are lots of options. There are manual ways that you can complete this work, or you can use one of the apps that have been listed above.
Can I set a fixed percentage for deposits on all products in my Shopify store?
You can set a fixed percentage for deposits across all products, streamlining the deposit process for customers. Ensure you choose an approach that best aligns with your store’s requirements.
How do I ensure compliance with legal regulations when taking deposits on Shopify?
Ensuring compliance with legal regulations when taking deposits on Shopify is crucial. Consult legal advice to ensure your deposit practices comply with consumer protection laws and e-commerce regulations.
Can I integrate deposit taking with inventory management on Shopify?
Absolutely yes, you can integrate deposit-taking with inventory management on Shopify. Integrate deposit management with inventory systems to ensure product availability aligns with deposit-based orders.