> For the complete documentation index, see [llms.txt](https://docs.kasko.io/product-builder-manual/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kasko.io/product-builder-manual/fundamentals/create-your-first-product/payment-plans.md).

# Payment Plans

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.

<figure><img src="/files/dXUpIajQ126zdeQHz6Rj" alt=""><figcaption><p>Payment Plan Create Flow - Step 1 Example </p></figcaption></figure>

<table><thead><tr><th width="234">Field</th><th>Description</th></tr></thead><tbody><tr><td><strong>Name</strong></td><td>This is name of the Payment Plan that you will use to identify on KASKO Platform.</td></tr><tr><td><strong>Description</strong></td><td>This is an optional field for you to add additional notes for this Payment Plan.</td></tr><tr><td><strong>Type</strong></td><td><p>The Payment Type for this Payment Plan.</p><ul><li>Single Payment: A one-off payment, usually upon policy purchase.</li><li>Recurring Payment: Series of repeated payments, taken on a fixed frequency.</li></ul></td></tr><tr><td><strong>Payment Frequency</strong></td><td><p>If you select the Payment Type as Recurring Payment, you can select one of the 4 frequencies.</p><ul><li>Yearly - The payment will be taken every year until the policy expires</li><li>Half-Yearly - The payment will be taken every 6 months until the policy expires</li><li>Quarterly - The payment will be taken every 3 months until the policy expires</li><li>Four-Weekly: The payment will be taken every four weeks until the policy expires.</li><li>Monthly - The payment will be taken every month until the policy expires.</li></ul></td></tr><tr><td><strong>Date</strong></td><td><p>This is to specify the recurring charge date. You’ll be able to choose:</p><ul><li>Policy Purchase Data: This will be on the same day of the month in the recurring payment month.</li><li>Custom: You will be able to select a fixed day of the month in the recurring payment month.</li></ul><p>This date will be apply to all the policies paid with this payment plan.</p></td></tr><tr><td><strong>Failed Payment Retry</strong></td><td>Learn more about Failed Payment Retry</td></tr></tbody></table>

<figure><img src="/files/7jSGm3GGmVSSFJ8itHJ9" alt=""><figcaption><p>Payment Plan Create Flow - Step 2 Example</p></figcaption></figure>

<table><thead><tr><th width="250">Field</th><th>Description</th></tr></thead><tbody><tr><td><strong>Payment Method</strong></td><td>The dropdown list comes from the account level. Read more in <a data-mention href="/pages/oJMCm7F74Z2NQJfoISJ3">/pages/oJMCm7F74Z2NQJfoISJ3</a></td></tr><tr><td><strong>Payment Provider</strong></td><td>The dropdown list comes from the account level. Read more in <a data-mention href="/pages/oJMCm7F74Z2NQJfoISJ3">/pages/oJMCm7F74Z2NQJfoISJ3</a></td></tr><tr><td><strong>Attach another payment method</strong></td><td>Click if your payment plan should support more payment methods.</td></tr></tbody></table>