Shop Pay Installments
Shop Pay Installments offers customers the option to pay for their order in installments at checkout, both online and in store. Orders from $35 USD to $30,000 USD are eligible for installments payments.
Shop Pay Installments is only available for merchants based in the United States, selling in USD, and with both Shopify Payments and Shop Pay activated. Learn more about Shop Pay Installment's eligibility requirements.
Your customers must also meet certain eligibility requirements, including having a billing address in the United States and being signed up for Shop Pay. The total order amount must be between $35 USD to $30,000 USD for customers to qualify for Shop Pay Installments.
Your customers can choose between the following installment payment options at checkout:
- Two, biweekly, interest-free payments, for orders from $35 USD to $50 USD.
- Four, biweekly, interest-free payments, for orders from 50 USD to 999.99 USD.
- Monthly payments for orders from $150 USD to $30,000 USD. Monthly installment orders are interest-bearing from 6 to 36% APR, and may be paid in three, six, or twelve months depending on the purchase amount. If an order exceeds $20,000 USD, then the customer pays a down payment for the remaining balance upfront. For example, if the order total is $25,000 USD, then the customer pays $5,000 USD upfront, and the remaining $20,000 USD is split into equal, interest-bearing, monthly payments.
When a customer views your 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.