By offering additional, popular payment methods such as Buy Now, Pay Later (BNPL), digital wallets, and bank redirects, you can provide your learners around the world with more convenience and flexibility during checkout. These options helps streamline your checkout and boost conversions!
In this article:
How to Disable or Enable Additional Payment Methods
About This Feature
With TCommerce: Powered by Thinkific Payments, creators in Thinkific Payment-supported countries can offer alternate payment options at checkout. This means your customers are not limited to credit card transactions. Whether they would like to pay interest-free installments with Buy Now Pay Later, through a digital wallet like Apply Pay, or via a secure bank transfer - your customers can pay in the way that is most convenient for them.
Providing a variety of payment methods can help you reach a wider audience, increase order values and reduce the likelihood of customers abandoning their carts due to a lack of preferred payment options!
Available Payment Options
Buy Now, Pay Later (BNPL)
Buy Now, Pay Later (BNPL) options from Affirm, Klarna, and Afterpay provide the flexibility for learners to pay for their purchases in interest-free installments, increasing conversions and providing easier payment processing.
Unlike our built-in payment plan feature, where there is a potential risk of failed credit card payments beyond the initial transaction, with BNPL, you receive the lump sum up front. This means purchases are more affordable for your learners with no risk to you, allowing you to reach new customers who would otherwise not be able to buy from you. You can benefit from faster business growth, reduced staffing needs as you don't need to manage following up on failed payments, and lower capital requirements. In addition, we've seen that on average, adding BNPL to checkout results in an overage order value increasing by more than three times compared to transactions made with cards.
At checkout, learners will be directed to the BNPL provider they select to create an account and submit payment. You will receive the full transaction amount in your bank account just like credit card transactions.
Learn more about Buy Now, Pay Later Options
Digital Wallets
Mobile-friendly digital wallets allow your learners to store and manage their payment information in a secure format, and provide flexibility and convenience when checking out. These payments are completed quickly without having to enter payment details or navigate to a third-party gateway.
To use a digital wallet, learners need to set up an account with Apple Pay, Google Pay, Cash App, Link By Stripe, or Amazon Pay, add their payment info, and link it to their device. Your learners can also pay with their US bank account using Instant Bank Payments by Link!
The transaction amount will be sent to your bank account via Thinkific Payments, just like credit card transactions.
Learn more about Digital Wallets
Bank Redirects
Bank redirects provide a convenient and secure payment method for learners around the world, allowing them to use their online banking credentials to complete payments. This option, which is particularly popular in Europe and Asia, complies with regulations related to payment processing and the enhanced security makes bank redirects an attractive payment option.
When a learner chooses the bank redirect option during checkout, they are prompted to complete the payment using their online banking credentials, without ever leaving your website.
Learn more about Bank Redirects
How It Works
Most of the additional payment options are available by default and automatically enabled for all verified creators using TCommerce: Powered by Thinkific Payments.
Amazon Pay is disabled by default. Toggle on anytime to offer even more payment methods to your buyers and boost sales.
Learners will see different options in the checkout depending on their country of residence and supported payment frequency. For example, BNPL supports one-time payments, while Apple and Google Pay support one-time payments, subscriptions and payment plans. There are no changes to the way you set up your product pricing, learners will simply have the added benefit of additional options at checkout when applicable!
If an alternative payment method is used, it will be listed in your Orders and Transactions Table under Payment Method. The funds will be deposited directly to your bank account via Thinkific Payments, just like with credit card transactions.
Transaction Fees
Different transaction fees apply depending on the payment option used at checkout. Please refer to following for details:
If a student does choose an alternate payment method at checkout, you will be charged the fees associated with that method. If a student does not choose an alternate payment method and simply completes the checkout using their credit card, you will be charged the standard Thinkific Payments fees.
How to Disable or Enable Additional Payment Methods
Most of the additional payment methods are available by default and automatically enabled for all creators using TCommerce: Powered by Thinkific Payments.
Amazon Pay is disabled by default. Toggle on anytime to offer even more payment methods to your buyers and boost sales.
If you want to disable all or specific additional payment methods, you can do it in your Admin Dashboard:
- From the Admin Dashboard, select Settings
- Select the Payments tab
- Select Additional payment methods
- Click on the arrow to open the list
- Here, you will see the list of available additional payment methods, whether they are turned on or off, and countries where these methods are popular
- Click on the payment method you want to disable or enable
- Click Turn off / Turn on
Once a payment method is tuned off, your users will no longer see it at the checkout.
To reenable additional payment methods, follow steps 1-6 above and click Turn on.
More About TCommerce
TCommerce: Powered by Thinkific Payments
TCommerce: Digital Wallet Payment Options
TCommerce: Buy Now, Pay Later (BNPL) Payment Options