The “Credit Line or Credits for WooCommerce” plugin offers a comprehensive solution for WooCommerce stores that want to provide customers with a line of credit to make purchases and pay later. Here is a summary of its key features and functionalities:

Benefits for Your Shop:

1. Revenue Boost: Encourage immediate purchases, potentially increasing your site’s sales revenue.
2. Customer Loyalty: Enhance loyalty by offering a convenient pay-later option.
3. Attract New Customers: Satisfied customers may refer others to your site.

Benefits for Your Customers:

1. Convenience: Customers can make purchases without immediate payment, using credits instead.
2. Interest-Free Option: No interest charged if chosen by the shop owner.
3. Generous Repayment Period: Up to 58 days for customers to repay the credits used.

Methods to Offer Credit Line:

1. Virtual Funds with Application Based Approval: Customers apply for a credit line, which is approved based on predefined criteria.
2. Virtual Funds with Auto-Approval: Eligible customers automatically receive a credit line based on preset rules.
3. Admin Funds with Application Based Approval: Admin adds funds manually and approves credit line applications.
4. Admin Funds with Auto-Approval: Admin adds funds manually, and eligible customers automatically receive credit lines.

How It Works:

• Admin configures eligibility rules.
• Customer submits a credit line application.
• Admin reviews and approves/modifies the suggested credit line.
• Customer manages credits via a dedicated dashboard.
• Credits are used as a payment gateway during checkout.
• Bills are generated monthly, detailing credit usage.
• Customers repay before the repayment date, and this cycle repeats.

Extensive Features:

1. Predefined rules for credit line allocation.
2. Automated credit line increases.
3. Automated/manual credit line approval.
4. Customizable application forms.
5. Monthly billing and repayment.
6. Up to 58 days for repayment.
7. Interest and late payment fee options.
8. Credits dashboard for customers.
9. Order status options for credit usage.
10. Custom bill statements.
11. Compatibility with WooCommerce Subscriptions.

This plugin offers a robust set of features to effectively manage credit limits in a WooCommerce store, benefiting both store owners and customers.