Shop Pay Installments
Shop Pay Installments, how it works.
The Process
Customers can choose between the following installment payment options at checkout:
- Four, biweekly, interest-free payments, for orders from 50 USD to 999.99 USD.
- Monthly payments for orders from 150 USD to 17,500 USD. Monthly installment orders are interest-bearing from 10 to 36% APR, and may be paid in three, six, or twelve months depending on the purchase amount.
When a customer views your products, the following information about Shop Pay Installments is displayed:
- Calculated installment payment amounts.
- Detailed information for customers who want to learn more about Shop Pay Installments.
- The latest compliance and regulatory information.
How to use Shop Pay Installments
To pay for an order using Shop Pay Installments, a customer goes through the following steps:
- The customer adds items to their cart.
- The customer checks out using Shop Pay.
- The customer selects to pay in installments.
- The customer reviews all of the installment payment options that are available to them, and then chooses an option.
- The customer reviews their purchase, and then makes their first payment at checkout.
The remaining payments are automatically charged to the customer's card based on the payment schedule they choose. Customers get an email reminder before each payment is charged.