Overview of Shop Pay Installments for HVAC Marketplace
What is Shop Pay Installments?
Shop Pay Installments allows customers to split their payments over time, making purchases more manageable. It’s a flexible "buy now, pay later" option available for orders ranging from $50 to $20,000. Depending on the order amount, customers can choose between two installment plans:
- Interest-Free Biweekly Payments: For orders between $50 and $999.99, customers can pay in four equal, interest-free payments every two weeks. There are no additional charges, interest, or late fees for this option, and it does not impact credit scores.
- Monthly Installment Payments: For orders between $150 and $20,000, customers can opt for monthly payments over 3 to 24 months. While this option may incur interest, there are no late fees. The specific interest rate and monthly payment amounts are determined during the checkout process, and the order is subject to a soft credit check which does not affect the customer’s credit score.
Eligibility and Limitations
Eligibility: To use Shop Pay Installments, customers must have a U.S. billing address and use a supported payment method. Orders must be between $50 and $20,000, and for physical goods, a U.S. shipping address is required.
Limitations: Certain items such as currency (including gift cards) cannot be purchased using Shop Pay Installments. Additionally, certain payment methods, such as Capital One cards and prepaid debit or credit cards, are not accepted. (Learn more.)
How it Works
During checkout, customers can select Shop Pay as their payment method and choose the installment option that suits their needs. After making the first payment at checkout, subsequent payments are automatically charged based on the chosen schedule. Customers will receive reminders before each payment is due.
Security and Rewards
Shop Pay offers secure, one-tap checkouts and also rewards users with Shop Cash. Customers earn 1% Shop Cash on every purchase made with Shop Pay, which can be redeemed on future orders.
Customer Support
If customers encounter issues or need assistance with their Shop Pay Installments, they can manage their payments, update payment methods, or contact support directly through the Shop Pay Help Center.