eLinx Flexible Payments

eLinx Flexible Payments revolutionizes the payment collection process by offering businesses the ability to provide customers with greater control and flexibility. This innovative feature allows businesses to tailor payment options to individual customer needs, enhancing their overall experience.

With eLinx Flexible Payments, businesses can enable customers to spread payments across multiple payment methods, make partial payments towards outstanding balances, or set up convenient installment plans. This level of customization fosters stronger customer relationships and improves the likelihood of successful and timely payments.

eLinx Flexible Payments User Flow

1. Payment Request Initiation: You initiate a payment request using eLinx Pay and select the Flexible Payments options you want to offer. You can specify the total payment amount, due date, and available flexible payment options (multiple payment methods, partial payments, or installments).
2. Customer Access: The customer receives the payment link and accesses the eLinx Pay workflow.
3. Flexible Payment Selection: The customer views the payment details and is presented with the available flexible payment options. They can choose the option that best suits their financial situation and preferences.
4. Payment Details & Confirmation:
   1. Multiple Payment Methods: The customer selects the desired payment methods (e.g., bank account and credit card) and allocates the payment amount across them.
   2. Partial Payments: The customer enters the desired partial payment amount, which must be less than or equal to the total outstanding balance. Additionally, they have the option to specify a future date for settling the remaining balance, providing further flexibility in managing their payments.
   3. Installments: You predefine the installment frequency (e.g., weekly, bi-weekly, monthly) and the number of installments. The customer reviews these terms and, if agreeable, accepts the installment plan. eLinx automatically calculates the installment amounts based on the total payment and chosen frequency.
5. Payment Processing & Verification: The customer confirms their chosen flexible payment option and provides the necessary payment details for each selected method. eLinx securely processes the payments and verifies the information.
6. Completion & Ongoing Payments: The customer receives confirmation of the successful payment setup. For installment plans, eLinx automatically processes subsequent payments according to the chosen frequency until the total amount is paid in full. The customer and the business receive notifications for each successful payment.

Optimizing eLinx Flexible Payments: Best Practices

While eLinx Flexible Payments empowers businesses to offer greater payment flexibility to their customers, it's important to strategically implement these options to maximize their benefits. Here are some suggested best practices:

• Initial Full Payment Request: Start by requesting the full payment amount upfront. This maintains a standard payment expectation and allows customers to fulfill their obligations promptly if they are able to do so.
• Trigger Flexible Payments on Failed Attempts: If the initial payment attempt fails due to insufficient funds (NSF) or other reasons, use this as a trigger to offer flexible payment options through eLinx. This demonstrates understanding towards the customer's situation while still providing a path to successful payment.
• Multiple Payment Methods for First Attempt: Even for the initial payment request, consider offering multiple payment methods (e.g., bank account and credit card). This caters to diverse customer preferences and increases the likelihood of a successful transaction.
• Tailored Flexible Options: When presenting flexible payment options, tailor them to the specific customer's situation and the nature of the transaction. For instance, for a large invoice, installments might be more suitable, while for a smaller amount, partial payments could be sufficient.

By implementing these best practices, businesses can leverage eLinx Flexible Payments to improve customer satisfaction, reduce payment friction, and ultimately increase successful payment collection rates.

Flexible Payments Example

Below is an example of the user experience for a Multiple Payment Methods workflow: