Create Payment Plan

Payment Plan is a method for creating recurring payment schedules that can be used to collect funds from customers on a regular basis.

Payment plans allow merchants to:

• Set up recurring payments: Create automated payment schedules with specified frequencies (weekly, monthly, quarterly, yearly)

• Flexible amount structures: Define either fixed amounts per cycle or custom schedules with varying amounts

• Auto-debit capabilities: Enable automatic debiting from customer accounts when supported

• Multi-cycle support: Set up plans that run for a specific number of cycles or indefinitely

Payment Plan Types

Finmo supports various payment plan configurations:

• Fixed Amount Plans: Each cycle has the same amount with a specified number of cycles

• Custom Schedule Plans: Each cycle can have different amounts and timing specified in the plan_schedule array

Frequency Options

Payment plans support the following frequency options:

• WEEKLY: Payments occur every week

• MONTHLY: Payments occur every month

• QUARTERLY: Payments occur every quarter

• YEARLY: Payments occur every year

Plan Schedule Structure

For custom schedule plans, each schedule item contains:

• amount: The payment amount for this cycle

• time_period: The time period (in cycles) when this payment should occur

Validation Rules

• Either amount_per_cycle and number_of_cycles OR plan_schedule must be provided, but not both

• payment_plan_name must be between 3-250 characters

• currency must be a valid ISO 4217 currency code

• country must be a valid ISO country code

• plan_schedule can contain 1-1000 items when used