Shop Pay Installments is a payment option for customers with a US shipping address whose orders are valued between $50.00 USD - $17,500.00 USD.
The installment payment options are as follows:
Four biweekly, interest-free payments for orders valued $50.00 - $999.99 USD.
A customer's credit scores are not impacted with this method.
Monthly payments for orders valued $150.00 - $17,500.00 USD.
These payments must be attached to a debit card
These payments are interest-bearing from 10-30%. Annual Percentage Rate (APR) and may be paid in 3, 6, or 12 months, depending on the purchase amount.
With this method, a customer's payments may be reported to a credit bureau.
It is possible that depending on the customer's repayment behavior, that their credit score may be impacted either positively (positive repayment history could possibly impact it positively) or negatively (e.g. for missed payments).