Deposits are a great payment option when it comes to high value items or allowing the customer to reserve a product with a token value. They are also great in taking an advance payment before making/manufacturing something.
In this article, we are going to show how you can set up and start accepting deposits in your WooCommerce store. We will be using the Deposits for WooCommerce plugin for this.
Steps to set up WooCommerce deposits
- Install and activate the Deposits for WooCommerce plugin.
- Edit the product you want to add the deposit payment option to.
- Scroll down to the Product data box. Select the Deposit tab from the left hand side.
- Click on the Enable Deposit checkbox.
- In the Deposit type dropdown, select whether you want to accept the deposit amount as a percentage of the product amount or a fixed amount.
- If you have selected the Percentage of Amount option then enter the percentage of product amount you want to accept in the Deposit Value field. Else, if you have selected Fixed Amount then enter the deposit amount you want to accept for the product.
- Once done click on the Update button to save the changes.
- Your customers can now pay a deposit amount for the product instead of paying the full amount.
Note: They will also have the option to pay the full amount if they want.
You can also edit settings for the deposit payments in Codeixer -> Deposit Settings from your admin dashboard. It has various options to edit the text that is displayed on the product page and cart/checkout page.
Deposits can be a great payment option depending on the type of products you are selling on your eCommerce store. Deposits for WooCommerce plugin makes it extremely easy to get started with accepting deposit payment for your products on your WooCommerce store.