How to Take Deposits on Shopify [2024]
Shopify - 3 Day Free Trial - No cc Needed   Free Trial
Detect Shopify Theme

Or go to our Shopify Theme Detector directly

How to Take Deposits on Shopify

Last modified: May 14, 2024

How to Take Deposits on Shopify
Free Shopify Trial

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.

Key Takeaways
1
Access your Shopify account and navigate to the payments settings to set up deposit options.
2
Enable ‘Split Payment’ in Payment Options to define initial and final payment amounts for customers.
3
Configure payment methods for deposit and final payment, ensuring a seamless transaction process.

 

 

Recommended: 10 Best Shopify Boost Sales Apps – [2024]
# Name Image
1
Unlimited Smart UpSell Offers
Unlimited Smart UpSell Offers
2
Sales Pop ‑ Boost Sales
Sales Pop ‑ Boost Sales
3
SALES ROCKET ‑ 40+ APPS in One
SALES ROCKET ‑ 40+ APPS in One
4
Sales Notification | Sales Pop
Sales Notification | Sales Pop
5
Vitals: 40+ Marketing Apps
Vitals: 40+ Marketing Apps
6
Stream Pop Up & Boost Sales
Stream Pop Up & Boost Sales
7
Sales Pop Master ‑ Countdown
Sales Pop Master ‑ Countdown
8
Ultimate Sales Boost
Ultimate Sales Boost
9
Sumo: Boost Conversion & Sales
Sumo: Boost Conversion & Sales
10
SMS & Web Push ‑ Pushnami
SMS & Web Push ‑ Pushnami
Show More

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 through the payment gateway, 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.

You can also access a Shopify Finances summary page to keep track of your store’s financial performance, including deposits and payments received.

Keep Reading

Conclusion: How to Take Deposits on Shopify

Taking deposits for your products or services is one of the key to making money on Shopify and running a successful online business. Additionally, setting up tipping options or changing the labels for tipping online can help boost your revenue.

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.

FAQs
  • 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.

2 thoughts on “How to Take Deposits on Shopify”
  1. Avatar for lashchii lashchii says:

    Can you please make a video, im so confused where the option “split payment” is?

  2. Avatar for Rich head Rich head says:

    After searching and searching and searching and searching pages and pages on Google video after video couldn’t find the slightest bit of info and then this dear sir gives me the golden egg..

    Thank you.

    Lashchii you can always get the app

Got Something To Say?

Your email address will not be published. Required fields are marked *