Payment Plans
Receive the payments the way you want it.
Once the Pricing Logic calculates the premium, the customers will need to go through a payment process to bind the offer into a policy. This is where the Payment Plan kicks in.
The Payment Plan defines how the payment should be taken and by which payment provider for your product. This includes a 2-step setup. Firstly, to define what type of payment the product supports, e.g. Single Payment (one-off payment, usually taken upon policy purchase) or Recurring Payment (repeated payment based on a fixed frequency). Secondly, to define which payment provider and method should process the payments.
Field | Description |
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Name | This is name of the Payment Plan that you will use to identify on KASKO Platform. |
Description | This is an optional field for you to add additional notes for this Payment Plan. |
Type | The Payment Type for this Payment Plan.
|
Payment Frequency | If you select the Payment Type as Recurring Payment, you can select one of the 4 frequencies.
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Date | This is to specify the recurring charge date. You’ll be able to choose:
This date will be apply to all the policies paid with this payment plan. |
Failed Payment Retry | Learn more about Failed Payment Retry |
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