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 USD and 1000 USD. There are no additional charges, interest rates, or late fees passed on to customers.
Checkout experience for customers using Shop Pay Installments
To use 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 Shop Pay Installments and chooses to pay for their order in 4 installments.
After a customer selects Shop Pay Installments, they review their purchase and are presented with one of the following options:
- Make their first payment at checkout
- Make their first payment 2 weeks after the purchase was made
The 3 remaining payments are automatically charged to the customer's debit or credit card every 2 weeks. Customers get an email reminder before each payment is charged.
After the order is completed, you receive full payment for the order upfront, excluding the fee incurred for using Shop Pay Installments.
Frequently Ask Questions
Are there late fees?
No, there are no late fees if you miss a scheduled payment.
What is the option to pay in installments on Shop Pay?
When checking out with Shop Pay, you now have the option to pay now or later. Paying in installments on Shop Pay allows you to split your purchase amount into 4 equal, biweekly installment payments—with 0% interest, no hidden or late fees, and no impact on your credit score.* In some instances, your first payment is due when you make your purchase; otherwise, your first payment is due 2 weeks after your purchase.
What if I make a return on a purchase made through Installments with Shop Pay?
If your refund amount is less than the amount remaining on your Shop Pay Installments balance, then you can expect one or both of the following:
- A smaller payment balance on the final payment
- Less future payments on the remaining loan balance
If your refund amount is more than the amount remaining on your Shop Pay Installments balance, then you can expect to receive the difference as a refund to your original debit card or credit card payment method within 3 to 10 business days.
Which payment methods are accepted if I use the option to pay Installments on Shop Pay?
The installments option on Shop Pay is available on debit and credit cards.