How do deposit payments work?

Owned by Aleksandra Khvoynitskaya (Unlicensed)
Last updated: 31.07.2023
2 min read

By using Split Payment & Deposit, you can offer deposit payments to your customers. Deposit payment, also referred to as a deferred purchase, is a type of payment that is delayed in parts to allow customers to pay for the purchased goods at a later date. For example, they can pay a 40% deposit today, and the balance (remaining amount) later, say in a month.

Deposit payment statuses

The following statuses are available for deposit payments in the app:

  • Paid – The order is paid in full, both the deposit and the balance.

  • Partially paid – Only the deposit is paid, while the due date for paying the balance hasn’t arrived yet.

  • Overdue – The order wasn’t paid on the due date since the credit card payment failed.

  • Canceled – The order was canceled in the app or the Shopify admin. 

Limitations

To use a deferred payment option, merchants need to use Shopify Payments or PayPal Express as a payment gateway. If your store doesn’t meet the Shopify requirements, you’ll see the corresponding notification on the app’s Home page and Deferred payments page. 

Deposit widget settings

When the Deferred payments are enabled on your store, you’ll see the corresponding notification. Click the Disable button in the notification to turn it off.

 

For showing the deposit payment widget in your store and customizing its settings, click the Customize deposit payment settings button under the section How deposit payments work. Alternatively, in the app admin go to Deferred payments > Deposit payments.

 

You can configure which products to apply it to, the minimum initial payment amount, and the number of days after which the remaining amount will be charged automatically. From there, you can also edit the deposit payment order tag, Cart page/Checkout inline text, and the deposit payment widget placement.

 

To customize the deposit widget design, go to Design > Deposit widget.