Nowadays having a website has become inevitable for any industry or any business. Online shopping promptly replaces the traditional bricks and cement shop. We are living in an era of eCommerce boom. Choosing to begin your own online store is a magnificent thought that could just lead to the next great online success story.
Every online business needs an online store, preferably one that’s on their own website. When it comes to a shopping cart, WooCommerce is among the most popular and important WordPress open source e-commerce plugin. WordPress is a very popular open source mostly used for content management systems, blog and also eCommerce. As per builtwith almost 13.18% of eCommerce websites are built using WooCommerce which is a popular way of implementing eCommerce functionality using WordPress.
It is very flexible, secure and easy to use the plugin provided by WordPress. As per the research, WooCommerce has been adopted by over 171000 online stores, which is a strong reason for choosing it for building an online store on WordPress CMS.
One of the crucial parts of eCommerce is how the payment is made online. There are different methods involved in payment processing. Most of us are only familiar with online payment methods like paying using credit cards, debit cards & COD. However, there is one more type of the payment in which the customers are given the ability to pay the amount within a few days this term is known as NET-D term, whereby D stands for Days.
NetD terms is a type of trade credit where the payment is due for X days after the product is purchased. These liabilities are only given to those customers who are regular and purchase the products in bulk. There are different forms of Net D terms for example Net 10, Net 15, Net 30 & Net 60. These are forms of trade credits which specify that the net amount i.e. outstanding of the invoice, is expected to be paid in full & received by the seller within 10, 15, 30 or 60 days after the goods are dispatched or service is completed. Net 30 or net 60 terms are often used with credit for early payment.
Interesting WooCommerce doesn’t have a good ready-made plugin to facilitate the above functionality & hence it is important to create a custom WooCommerce plugin to provide that specific functionality. Let’s take an example of customizing WooCommerce to facilitate Net30 payment terms.
What this NET30 term does?
- After customization, a check-box is provided in the Users section in the backend. Admin can select the check-box and provide this feature to some specific customers/users according to their criteria. For example, many businesses use this Net30 payment terms when it comes to Wholesalers.
- Those customers/users selected for this feature would get the mail or notification with the reference number.
- The user can purchase the products with normal procedure and at the time of payment, the NET30 option would be visible to those customers/user at the front end.
- This NET30 option would request for a reference number and user has to enter that number which he received in the mail or notification.
- This skips the payment procedure and the user would receive an invoice of the purchased order. In other words, the user can now do the post-payment.
- Admin would receive the notification of the purchased order. Initially, the status of these orders will be HOLD since the admin has to verify the reference number and the order. After verification, the Admin would confirm the order and would precede the request for the shipping. This is the manual procedure performed by the Admin
WooCommerce is a WordPress plugin and it helps in attracting more customers towards your website and boosts sales. If you have an eCommerce WordPress website and want to boost its web presence, WooCommerce development is definitely the way forward.
To place an order for WordPress WooCommerce Net D terms plugin, please send us a request here.We provide complete support for this plugin in terms of installation as well as any additional customization requests based on your business needs.