Shop Pay is an accelerated checkout that lets customers save their email address, credit card, and shipping and billing information. This can save your customers time when they check out, especially if they've already opted in to Shop Pay on any Shopify store.
Shop Pay Installments offers customers the option to pay for their order in installments at checkout, both online and in store. Orders from 50 USD to 17,500 USD are eligible for installments payments.
The 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 The customer views the 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.
Shop Pay Installments can also improve conversion rates and average order value by letting customers know that they have the option to pay for certain orders in installment payments.