WooCommerce installment selling increases the competitiveness of businesses by offering flexible payment options to customers. Tools like POS Integrator make this process even easier, saving businesses time and resources.
Competition in the world of e-commerce is increasing and offering customers a variety of payment options is becoming a necessity for businesses. Installment selling offers customers the opportunity to purchase more expensive products with favorable payment terms, which helps to increase sales.
Online shopping in installments is steadily growing in popularity in Turkey and around the world. There are approximately 22 million internet subscribers and 27 million active internet users in Turkey. This huge market offers a great opportunity for e-commerce sites, which have been increasing in recent years. Thanks to different payment systems and attractive shopping opportunities, e-commerce sites are trying to get a significant share of this large market.
Since WooCommerce does not have installment sales options in itself, you need to provide this with 3rd party plugins and applications.
Outperform Your Competitors with Installment Payment
Shopping in installments offers customers the ability to better manage their budgets and facilitates the sale of products that usually cost more. This is a big advantage, especially for large e-commerce platforms. In addition, customers trust sites that offer installment shopping options more, which increases customer loyalty.
Offering installment shopping options is not only an option for e-commerce sites in Turkey, but also a necessity to adapt to the requirements of the market and increase customer satisfaction. POS Integrator tools such as the e-commerce platform, facilitate this process and contribute to the successful growth of e-commerce sites.
What are the Advantages of Offering Installment Options in E-Commerce?
- Increased Sales: The installment option offers customers the ability to make larger purchases because it allows them to manage their budget more effectively by spreading the total payment burden over time. This usually leads to increased sales.
- Expanding Customer Reach: Some customers may not be able to shop without the option to pay in installments, especially when it comes to high-priced products. By offering an installment option, you can reach a wider customer base with different budgets.
- Customer Loyalty: Providing flexibility to customers by offering installment options can increase their loyalty and satisfaction with your brand. This in turn increases repeat purchase rates and customer loyalty in the long run.
- Competitive Advantage: To compete with other e-commerce sites in the market, it can be important to offer installment options. Especially if you sell high-cost products such as consumer electronics, furniture or luxury goods, offering installments can be almost a necessity.
- Bigger Purchases: Installment options allow customers to purchase higher priced products without exceeding their budget. This contributes to an increase in the size of the basket and therefore to an increase in the total revenue of your business.
- Cash Flow Management: Installments provide regular cash flow for businesses. The fact that customers make payments within a certain time frame can facilitate the financial planning of businesses.
- Marketing and Promotion Opportunities: Installment options can also be a tool for special promotions and campaigns. For example, by offering special installment options on certain products, you can encourage sales of these products.
WooCommerce Installment Sales Setup
- Payment Integration: POS Integrator with, you can integrate with payment service providers like more than 30+. The first step is to create a supported virtual pos provider to reach an agreement. Example: paytr
- Installment Settings: In WooCommerce, installment options can be set for certain product categories. This feature can be disabled for categories where installments are not desired.
- User Friendly Checkout Page: The WooCommerce checkout page can be organized in a way that allows users to make a seamless checkout on their own site. Thus, customers can complete their payments without being redirected to a different page.
- With POS Integrator installment blocking rules, you can restrict installments on products in unwanted categories on your site.
- With the WooCommerce Installment tab feature, you can facilitate purchasing decisions by showing the installment amount and payment advantages on the product pages.
WooCommerce Installment Sales Made Easy with POS Integrator
POS Integrator is a powerful payment integration tool for WooCommerce sites. With this tool, you can easily integrate different payment methods and installment sales into your site. POS Integrator works with 30+ payment service providers and simplifies the installment sales process for businesses.
Legal Basics of Installment Sales in Turkey
In 2022, the Ministry of Trade made some amendments to the Regulation on Installment Sale Contracts. These amendments include changing the phrase "remaining debt" to "the price included in the contract" and adding the phrase "or by permanent data storage device" after the phrase "in writing". https://www.kamufinans.com/taksitle-satis-sozlesmeleri-hakkinda-yonetmelik
However, it is noted that some changes to internet sales have been postponed until 2024. In particular, some proposed changes to consumer rights have been criticized and therefore postponed. For example, some products such as mobile phones, smartwatches, computers, tablets, motorcycles and drones were planned to be non-returnable, but these changes were criticized as they could negatively affect consumer rights. In addition, a provision was also made whereby the shipping cost would be charged to the consumer in case of abandonment of products with the right of withdrawal within 14 days.