Offer Installment Payments
To Your Customers

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​Installment payment plans are not a new idea - people have been doing it for a long time. Do you currently offer your customers a SIMPLE, ZERO INTEREST INSTALLMENT PAYMENT PLAN?

• What if your customers could buy more ‘everyday’ merchandise or services from you by using a ZERO INTEREST installment plan?
• What if these purchases worked just like regular credit card purchases, and could be made through your existing payment gateway?
• What if your customers could purchase in installments through their own existing Visa and MasterCard credit cards, without having to fill out a new credit application?​

​Now you can  INSTANTLY offer your customers the ability to pay for their purchase over time  at 0% interest!
   
How It Works:

​​Using their existing Visa or MasterCard credit cards, you can now offer your customers interest-free monthly payments right at the point of sale.

Step 1:
A customer visits your website or storefront and selects the items that they would like to purchase.

Step 2:
At the checkout they choose the monthly payment option 0% Interest Monthly Payments.

Step 3:
Your customer selects the number of installments desired and they confirm their purchase. When the customer authorizes their purchase, an installment plan is created. The full amount of the purchase is authorized on the shopper’s existing credit card.

Step 4:
The first installment is charged a few seconds after the purchase is authorized (or upon shipping).

Step 5:
The amount that is still to be paid is then reauthorized when the previous authorization is about to expire. The hold on their credit line will be reduced each month by the installment amount.

Step 6:
The customer’s credit card will then be automatically charged every month until the plan is finished.

No application, registration or credit check is needed.
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​Now you can make it easier for your customers to place the larger orders that they really want to buy, but need help in spreading out the payments. Happy, satisfied customers are the best because they tend to come back to your site and shop again. Make it easy for them to buy what they really want, and they will return again and again.
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Providing your customers with the option to split payment for a particular product means they are able to spend more while still remaining in control of their cash flow. The implications also mean that customers are more likely to look at other products and consider purchasing them due to the lower upfront cost of the item they originally intended to buy.

Since most retailers already accept credit card payments, this installment payment solution is easily integrated into almost any e-commerce business. The flexibility offered to consumers means they can choose which credit card to pay with and still earn points and rewards from their chosen card.
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The key to sales success lies in offering installment payment solutions. People do indeed like free shipping, so if they need to buy another item or two to score free shipping, they’ll do it if you also offer a simple installment payment plan.
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It just makes sense to offer volume discounts on products when it’s simple and logical for your customer to buy more. Make these limited time offers. Urge your customer to make a large purchase in the next two days, not two months from now. Show them how they can spread out the payments over time with ZERO interest payments. Never give customers a reason to procrastinate. Give them a reason to buy today.

​Merchant Testimonials

​"GlassesUSA.com has seen more than a 10% decrease in checkout abandonment for high order value baskets. “Thousands” of shoppers each day see the installment option. On average, 66,632 consumers visit GlassesUsa.com each day, The installment payment feature also increased our average order value by more than 15% for consumers spending more than $120 in product”
Daniel Rothman, CEO of GlassesUSA.com
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“PrimeSetting increased conversions with 20% and uplift in average order value with 25% in less than a few months. The decision has made better business sense for PrimeSetting, which is obvious from the customer feedback they’re receiving. This new monthly installment payment option has given PrimeSetting a highly competitive advantage over other retailers within the jewelry industry”
David Yanir, Founder and CEO

Overview

Now merchants can provide instant monthly-installment payment services to customers for goods and/or services using their existing credit card. This means customers can buy a product on the spot and pay it back in affordable installments. Authorization is requested from the customer’s credit card company, reserving the total purchase amount from the customer’s available line of credit. Then, each month, according to the customer’s payment plan, the merchant’s bank collects the installment amount and a new authorization is requested for the remaining balance—before the current authorization expires.

​The service takes just seconds to initiate directly from an e-commerce website. The merchant gets paid in monthly installments (minus processing-fee deductions). In this case, the risk is the same as standard credit card payments; liability stays with the merchant. The merchant has online access to his/her installment transactions for payment tracking, fraud detection or refund monitoring according to his/her current policy.

Example

Here is an example of how the service works: A customer wants to buy a TV totaling $1,000 in 5 installments of $200 each. Authorization is requested for the full purchase amount of $1,000, and the the customer is charged $200 for the first payment. Towards the end of the second month, a new authorization is requested for the outstanding purchase amount of $800, and the customer's card is charged for the second installment of $200. This recurring authorization and charge process continues until the full $1000 in outstanding debt is collected.
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