Shop Pay Installment FAQs

 

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 four equal, biweekly installment payments with 0% APR, or monthly installments with no hidden or late fees*.

Are there any additional costs to customers?

For installment orders that are split into four biweekly payments, there are no additional charges, interest rates, or late fees.

For installment orders that are paid for in monthly payments, interest rates from 10 to 36% APR apply.

Does using Shop Pay Installments impact customer's credit score?

If you choose to pay for order in four biweekly installments, then your credit score isn't impacted.

However, If you choose to pay for order in monthly payments, and doesn't make payments on time, then your credit score might be affected. Only monthly payment options might impact a customer's credit score.

Which payment methods are accepted if I use the option to pay in installments on Shop Pay?

For non-interest bearing orders, debit and credit cards are accepted through Shop Pay. For interest bearing orders, you can only pay using a debit card.

Is there a limit to how much I can spend on a single Shop Pay Installments order?

Yes, 17,500 USD is the order value limit that applies to purchases using Shop Pay Installments, including discounts, shipping, and taxes.

Are there late fees?

No, there are no late fees if you miss a scheduled payment.

What if I miss an installment payment?

There are no late fees for customers who miss a scheduled payment. However, partial payments or late payments might impact your credit score, or your eligibility to use Shop Pay Installments in the future. If you have questions about a missed installment payment, then you can contact Affirm support for assistance.

What if I make a return on a purchase made through installments with Shop Pay?

To request a refund, contact the store where you purchased your item. Using their return policy, the store will advise if a return is possible. If a return is possible, then the store will advise how much the refunded amount will be. After your refund is processed, the refund amount will be applied to your original payment method within 3-10 business days and your balance will be updated.

If your refund is less than your total purchase balance, then it might not lower your next payment. Instead, you can expect fewer payments, a smaller final payment, or both.

If your refund is more than your purchase balance, then the difference is returned to your original payment method within 3-10 business days.

If your order is made with interest payments, then the paid interest isn't refunded. When you make payments, the funds are first applied to the accrued unpaid interest and then to the principal. Interest is the cost of borrowing, and isn't refundable.

Can international customers use shop pay?

Shop Pay Installments is only available to customers with a United States billing address and phone number.

Have more questions?

For questions about installment payments on Shop Pay, visit:

https://shoppay.affirm.com/ 

https://shoppay.affirm.com/help/s/article/about-sp

 

 

 

Disclosure:

*Rates from 0% APR 10-36% APR. Payment options through Shop Pay Installments are subject to an eligibility check and are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. State notices to consumers affirm.com/licenses.