Pay-what-you-can (PWYC) payments provide your customers with the flexibility to choose a repayment amount that aligns with their current financial situation. Rather than adhering to a full or fixed payment schedule, customers can make a partial payment, offering them a practical solution to manage their debt and avoid default.
This customizable repayment option empowers customers to stay on track with their payments, even during financially challenging times. In turn, you can foster stronger relationships and increase the likelihood of recovering funds that might otherwise go unpaid.
Activate PWYC payments
By default, three payment options are available: Full Payments, Payment Arrangements, and Minimum Payments. To enable the PWYC payment option, please contact your Lexop Account Manager.
Note: Once PWYC is activated, it will replace the Minimum Payments option, offering greater flexibility for your customers.
Use cases
The PWYC payment option provides versatile debt management, with different outcomes depending on the stage of delinquency and repayment agreements. Two common use cases include:
Late-stage delinquency: A PWYC payment marks the debt as settled, and the customer is removed from your collection process.
Stop-gap settlement: PWYC payments provide temporary relief, offering the customer some reprieve without fully resolving the debt. You may later send a follow-up campaign to remind the customer of the remaining balance.
Enable PWYC payments in your campaigns
PWYC payments are not automatically enabled for all campaigns. When setting up a campaign in Lexop, you can choose to enable this option on a per-account basis.
This gives you greater control, allowing you to tailor payment terms to specific accounts based on their financial situations. For example, in a campaign with 1,000 recipients, you may offer PWYC payments to only a subset of accounts.
You can enable PWYC payments depending on how you add recipients to your campaign:
When importing a list of recipients generated from your core system
When creating new recipients manually
When adding recipients by searching for existing ones in the Lexop platform
Note: Once enabled, PWYC payments are available when the campaign starts. In sequence-based campaigns, they become available to customers from the very first step.
When importing a list of recipients
When creating a campaign by importing a list of recipients, the PWYC payment option will only be available if it's specified in the import file. To enable this, you need to include a dedicated data field (column) in your import sheet that represents the minimum payment amount allowed for PWYC payments.
During the import, Lexop will automatically map the Minimum Amount tag to any column in your import file with the same header.
However, if your column header differs, you’ll have the option to manually match it to the Minimum Amount tag. This allows for flexibility in customizing your import file while ensuring the PWYC payment option is properly activated for the relevant accounts.
Follow the links for more information about tags and how automatic mapping works.
When creating new recipients manually
When manually creating new recipients for your campaign, you can enable PWYC payments by entering the minimum payment amount accepted in the Minimum payment ($) field.
When adding existing recipients manually
When you search for existing recipients previously created in the platform and add them manually to your campaign, you can enable PWYC payments by editing the recipient's core information by clicking Edit in the action (•••) menu.
This will open the edit recipient (debtor) menu, where you can enter the minimum payment amount accepted in the Minimum payment ($) field and save your change.
What happens when a PWYC payment is made?
When a payment is made via the PWYC payment option, Lexop will update the recipient’s debt balance and consider the debt "solved," just as it would with a full payment. This is based on the understanding that the payment results from:
A deal made by your organization,
An offer extended to the customer, or
Another agreement between your organization and the customer has been made to manage delinquency.
For sequence-based campaigns, the recipient will be excluded from all future steps once a PWYC payment is made.
Note: The original payment portal link remains active while the campaign is ongoing, allowing customers to make multiple PWYC payments. However, we strongly recommend using payment arrangements for more certainty on repayment schedules.