Offering payment discounts to your customers is a way to incentivize prompt payments and reduce collection time.
Having the flexibility to offer different payment options will help your business collect on time. Cashflow.io offers you the option of offering customers through payment discounts. Here is how you build an incentive based payment plan.
Note: Early payment discounts are only available for payment requests. User permission "Can grant early payment discounts" is required.
1. Follow the steps required to create a payment request. During the payment request creation process, scroll down to the Early Payment Discount section, enter the discount percentage and the number of days.
2. Finalize the rest of the payment request. Once the payment request is sent, the customer will be notified that a discount is available if paid by a certain date. EXAMPLE: You may want to offer a 5% discount if the request is paid within 3 days.