Enjoy Shopping with Shop Pay Installments!
Shop Pay Installments makes your shopping more flexible and affordable. With the slogan "Get it now, pay later" this service helps you manage your budget by allowing installment payments.
How to Create a Shop Pay Account?
Follow these steps to create a Shop Pay account:
- Go to the checkout page while shopping at a Shopify-supported store.
- Select Shop Pay as your payment option.
- Enter your personal information (name, email, phone) and payment details to create your account.
- Once confirmed, your Shop Pay account will be activated.
You can also create and manage your account through the Shop Pay app.
How to Shop with Shop Pay Installments?
To shop using Shop Pay Installments:
- Shop at a store that supports Shop Pay.
- Select Shop Pay Installments at checkout.
- Review the available installment options and choose the one that suits you.
- Confirm your payment plan and complete your purchase.
Once your purchase is confirmed, Shop Pay Installments starts the installment process, and payments are collected on scheduled dates.
- The first option involves making monthly payments of $478.04 for 3 months at a 15% APR, with $35.12 in interest added, for a total payment of $1,434.12.
- The second option involves making monthly payments of $126.27 for 12 months at a 15% APR, with $116.24 in interest added, for a total payment of $1,515.24.
Benefits of Opening a Shop Pay Account
Fast and secure payments
Budget-friendly shopping with installment payment options
Easy account management and order tracking
Access to exclusive deals and discounts
Ability to track your purchase history
Commission Rates and Fees
Possible commission rates and additional fees for using Shop Pay Installments:
- Interest rates vary based on the purchased item and store.
- Additional fees may apply depending on the installment plan.
- Some campaigns offer zero-interest payment options.
- Late payments may incur extra fees or penalties.
Relationship Between Shop Pay Installments and Affirm
Shop Pay Installments is powered by Affirm for financing. Through this partnership:
- Payment terms are determined by Affirm.
- Installment payment options are supported by Affirm’s infrastructure.
- Credit assessment and payment plans are determined by Affirm.
- Alternative options may be available for users with lower credit scores.
Frequently Asked Questions (FAQ) About Shop Pay Installments
Installment options vary depending on the store and purchase amount.
Payments are collected on scheduled dates based on your payment plan.
Fees may vary depending on the store and payment plan.
Yes, you have the option to pay off your plan early.
Yes, credit assessments conducted by Affirm may impact your credit score.
