Shop Pay offers customers the option to pay in full at checkout, or to split their purchase into 4 equal, interest-free installment payments for orders between $50 and $1000. There are no additional charges, interest rates, or late fees passed on to customers.
Customers' credit scores aren't affected if they use Shop Pay Installments. However, if a customer doesn't pay their installment, or they make a late payment, then they might not be eligible to make purchases using Shop Pay Installments in the future.
When a customer views a products, the following information about Shop Pay Installments is displayed:
- Calculated installment payment amounts
- Detailed information to customers who want to learn more about Shop Pay Installments
- The latest compliance and regulatory information