A popular payment method that splits up the total amount due to monthly payments, allowing customers to make higher prices purchases.
What are installments?
Installments are a payment plan applied to a purchase. Rather than paying outright, Latin Americans have a strong preference to pay for a purchase in parcels spread throughout the year. When it comes to online shopping, the trend is similar to the overall use of installments in the region.
Why will Installments help to increase sales?
64% of Brazilians believe paying in installments is the only way for them to have the desired product. By accepting installments in your online store you will make expensive goods and services available to Latin Americans and break Credit Card low limit barriers. This way Latin American customers will be more interested in buying even if they don’t have the total money at that time.
How installments work
When using a Credit Card, the customer chooses installments as their payment method. Then the transaction is authorized and captured for the full amount but settled in installments over a period of time*. Installments are debited from the customer monthly, by their card issuer.