On every donation form and campaign, donors can pay in up to 12 installments. An installment is like layaway - when the payment is divided into parts. So if the donor wants to donate ₪1,200 in 12 payments, they'll be charged ₪100 every month for 12 months. The credit is given by the credit card company.
However, there are downsides to installment payments - mainly that it takes up your donor's credit limit (if I choose to donate ₪1,200 and my credit limit if ₪6,000, you're taking up 20% of my credit). Also, there is an additional 2.5% fee on each installment, charged by the credit card company (someone, after all, needs to pay for the credit).
So, we've developed a new system called Smart Installments, where instead of donating in payments, we'll automatically divide the donation up into a recurring monthly donation. So, for example:
- Using Classic Installments, a ₪1,200 donation would be charged ₪100 every month, but would take up the entire credit limit.
- But using Smart Installments, the donor will be charged ₪100 every month for 12 months. There is no holding of credit, and no extra fees.
Smart installments is also the only way to give your foreign-currency donors the "installment" experience (foreign credit card companies do not offer payments by installment), but Smart installment would give the donors that equivalent option.
To add Classic or Smart Installments to your donation form, just select your preferred choice on the last stage of the creation wizard: