Creating installment rules
You can create installment rules to offer customers different installment payment options when they purchase items from your store catalog. Use installment rules to specify pricing information, such as minimum installment payment amount, interest rate, and the maximum number of installment payments without interest for categories and products.
Procedure
- Open the Installments tool.
-
Use one of the following methods to create a installment
rule:
- From the File menu, select .
- From the toolbar, click the arrow on the right side of
; then select Installment Rule.
- In the Installment
Rule Properties section,
define the general information properties about the installment rule:
Property Description Name Type a name that uniquely identifies the installment rule. For example, Furniture. This name is displayed in the Installments tool to identify the installment rule. Description Enter a brief description for the installment rule. For example, 2-6 interest-free installments for furniture with a minimum payment of $25.00. Priority Select the priority for the installment rule. When a single product qualifies for multiple installment rules, the installment rule with the highest priority is applied. Start date Enter a Start date for the installment rule. If you do not specify a start date, the start date is set to the current server date at 12:00 a.m. when you save the installment rule. Optionally, you can specify a time of day for the Start date. For example, you can specify that the installment rule starts February 1, 2010 at 7:00 a.m. This field uses the time zone that is set in the Management Center preferences. The Start date defines when the installment rule becomes available on the storefront. End date Enter an End date for the installment rule. If you do not specify an end date, the installment rule is in effect until you deactivate it. Optionally, you can specify a time of day for the End date. For example, you can specify that the installment rule ends February 14, 2010 at 10:00 a.m. This field uses the time zone that is set in the Management Center preferences. The End date defines when the installment rule is no longer available on the storefront. - Expand the Target Categories
and Catalog Entries section
and specify the categories and catalog entries that the installment
rule applies to.
Option Description Include all catalog entries Select this check box if you want the new installment rule to apply to all catalog entries. Included categories Specify the categories that you want the new installment rule to apply to: - Enter the name of a category and click Find and Add.
- Click
to open the utilities view and search or browse for a category.
Included catalog entries Specify the catalog entries that you want the new installment rule to apply to: - Enter the name of a catalog entry and click Find and Add.
- Click to open the utilities view and search or browse for a catalog entry.
Excluded categories Specify the categories that you do not want the new installment rule to apply to: - Enter the name of a category and click Find and Add.
- Click to open the utilities view and search or browse for a category.
Excluded catalog entries Specify the catalog entries that you do not want the new installment rule to apply to: - Enter the name of a catalog entry and click Find and Add.
- Click to open the utilities view and search or browse for a catalog entry.
- Expand the Target Manufacturer section
and select the Include all manufacturers check
box if you want the new installment rule to apply to all manufacturers.
Tip: If you want an installment rule to apply to multiple manufacturers, but not all manufacturers, create a separate installment rule for each manufacturer.
- Expand
the Target Payment Methods section
and select the Include all payment methods check
box if you want the new installment rule to apply to all payment methods.
Note: To use an installment rule as the featured installment option for a product, the rule must apply to all payment methods. The featured installment option advertises the best available payment option for a product that is based on the number of installment payments and the interest rate. The featured installment option is selected from installment rules that apply to all payment methods. Installment rules that apply to specific payment methods are not considered when selecting the featured installment option.
- Expand
the Installment Options section.
- Select the currency that is used by all installment options in the installment rule.
-
Click to add a installment option to the table:
Option Description Number of Installments Specify the number of monthly installment payments to offer at the interest rate. For example, to offer the customer the option to pay for the product in three monthly installment payments at the specified interest rate, type 3. Interest Rate Specify the interest rate for the installment rule. Minimum Installment Amount Specify a monetary value for the minimum installment payment. For example, 100.00. This installment option displays only when the price of the selected product meets the minimum installment amount for the number of installments. For example, the following minimum installment amount option is not displayed when the price of the selected product is $100.00:
3 installments with a $50.00 minimum installment amount.Note: When a shopping cart contains multiple items, the installment options are based on the price of the entire shopping cart. For example, when a shopping cart contains one item with a price of $100 and five items with a price of $10.00 each, the following minimum installment amount is displayed since the price of the entire shopping cart is $150:3 installments with a $50.00 minimum installment amount.
- Click Save; then click Close.