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Newsflash for Magento website owners!

Magento 2

LayUp has developed a plugin for e-commerce platform Magento 2, that will increase your online sales and convert up to 60% more customers today.

ABOUT LAYUP

LayUp is an alternative payment platform that increases sales and basket size by enabling your customers to lay-by/layaway items with interest-free instalment plans. With LayUp’s Magento 2 plugin, you can allow buyers to pay in instalments for products or services that suit your business needs.

LayUp has developed an automated payment plan solution that integrates seamlessly with Magento e-commerce websites. Located at checkout, the plugin offers an alternative payment option for goods and services by making monthly or weekly interest-free instalments that suit your business needs.

Quick and easy to install, this plugin lets business owners offer digitised lay-by solution in a matter of minutes. With no setup costs or contracts, It’s a win-win for both you and your customer.

Click here to book a live demo with our team.

THE STEPS

Step 1 – Add “Pay with LayUp” to your checkout.

Step 2 – Set the store deposit amount and duration of the payment plan.

Step 3 – Let your customers split the cost for group purchases.

Step 4 – Secure recurring payments, settled for you by LayUp.

THE ADVANTAGES

  • Increased conversions – LayUp converts browsers into shoppers with an interest-free payment solution online.

  • Increased basket size & repeat purchase rates – LayUp customers spend 25% more per transaction over their lifetime, & they return to your site more often to LayUp their purchase.

  • Decreased drop-off rate at Checkout – LayUp reduces drop-off & puts your items within reach of more customers who previously wouldn’t have been able to transact with you.

  • Improved lay-by completion rates by 60% – using LayUp automated recurring payment technology.

  • Gamification tools – LayUp gives you the cutting edge over competitors by providing a gamification tool that incentivises your customers along the payment plan, leading to successful payment completion rates. 

  • Reduce administration costs – LayUp handles the end to end communication with customers payment plan.

  • Improve customer experience – LayUp improves the customer experience through a digitised, easy to use system.

HOW IT WORKS FOR THE MERCHANT

  • Implementing LayUp’s Magento 2 plugin to your e-commerce site allows for users to checkout using LayUp, an alternative payment solution.

  • Orders are then put into a partial state on the Magento system to indicate that it is being paid off over a certain period of time.

  • LayUp allows customers to pay through card or EFT at no additional cost to the merchant.

  • LayUp’s technology automatically collects weekly and monthly instalments, and will check in with customers to help them reach their payment goals.

  • Orders are updated daily with the payments that have been made via LayUp for the order.

  • LayUp allows merchants to update their account details at their own discretion.

  • Merchants can authenticate themselves by entering their API (application programming interface) Keys. API Keys are available via merchant support.

  • Should a merchant decide to remove the LayUp plugin, the software automatically reverts all the changes made to the system back to its original state.

KEY FEATURES FOR MERCHANTS

  • Create your own instalment plans to offer lay-by/layaway for your customers

  • Add payment plan widget example in product & cart pages

  • Customers can view their LayUp purchases in the account section or their personalised LayUp Dashboard

  • Live and Sandbox environment support.

  • Capturing and refunds handled and processed by layUp.

  • Support for payment authorisations, capture and refunds.

  • LayUp widget support.

  • Industry-leading data security and PCI-compliant payments.

  • Quick pay and easy instalments.

  • Log tracking for debugging purposes.

ACCOUNTS AND PRICING

You must create a LayUp account before you will be able to accept LayBy/Layaway payments with LayUp. To sign up, click here . Although the extension is free to install, LayUp does charge a per transaction fee per payment plan created of 5% (ex. VAT).   This includes all online processing fees. Please email [email protected] or call +2784 094 5555 to get onboarded as a merchant.

Article by: Savannah Negra

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