How to set up coupons with payment plans?
If you want to offer a coupon with each payment of a payment plan, you need to create a Coupon with the Discount type as "Recurring Product Discount" or "Recurring Product % Discount".
Next, in Active for x payments, you can specify how many payments the coupon should be active for. Leave this field blank, which will then default to Unlimited payments.
Then, click the Usage restriction tab. You have the option to specify this coupon to only work on specific products.
Finally, click Update in the top right-hand corner.
Example #1: 20% off Guitar Course
I sell my Learn Guitar the Easy Way Course for $100 or 4 monthly payments of $25.
I want to offer a 10% off coupon. I have a few options to setup the coupon:
Option A: Discount 10% off each payment
I create a Coupon named save10 with the "Recurring Product Discount %" of 10%.
If the customer goes through the Checkout process and enters the coupon code save10, their first order will be for $22.50 ($25 - $2.50 coupon). The 2nd/3rd/4th payment will $22.50 total as the 10% coupon for $2.50 will apply to each payment.
Option B: Discount $20 total off the first payment
You would not need to create a "Recurring Product Discount" or "Recurring Product Discount %" and instead could just create a "Percentage Discount", "Fixed Cart Discount", or "Fixed Product Discount" coupon.