Hey guys, so I'm selling a $150 product and I want to replace One-Time Payment with Payment Plan of like 4-6 monthly installments.
My website is on ClickFunnels.
Problem is, even though I can set up a Stripe Payment Plan on ClickFunnels, the way it works seems a bit risky to me…
Which is: It actually works as a subscription that ClickFunnels just auto-cancels after the specified number of months.
So technically not a payment plan but kinda works like it.
Here's my concern: What if customers cancel their subscription (in this case a payment plan), before its fully paid off?
Stripe will see this as subscription which means it'll allow them to cancel it.
Even though they have to cover it or otherwise I'll just lose money and they would have paid a lot less than the full price.
So my question is:
- Did anyone here try this? If you did, what was the percentage of premature cancelations?
- Anybody else had similar case scenarios that could help me get some insight?
- Finally, genral thoughts?
By the way I think its important to keep in mind, my audience is in United States and are aged over 50.