These all mean the same thing.
One key factor of checkout conversions is offering different pricing options for your products.
A great way to increase conversions is by turning a single payment product into a payment plan.
By splitting up payments for higher-priced items, you immediately make an attractive offer for customers who want to purchase but can't afford the larger up front one-time fee.
Payment plans are an easy way for customers to calculate and budget for their purchases quickly.
Large one-time payments can sometimes be too expensive for consumers to outlay in one go which creates a barrier for them to buy.
Purchase barriers in the sales process can harm sales, especially if the customer doesn't know your business.
Now, with this new update for OptimizeCheckouts, you can introduce a payment plan and bingo! 🙌
You can create payment plans that spread payments for a purchase over a set period, let's say 3/4/5 months, for example. Payment plans can be the perfect solution for customers budgeting and can positively sway their decision to purchase. A simple payment structure can increase your conversions instantly.
You can also offer daily/weekly/monthly/yearly payment plans depending on your product and however long you want the payment term to run.
The most common payment periods are 3-6 months. As a product creator, this means you can secure a sale and then recoup the remainder of the outstanding balance over a short time period.