Shop Pay - Buy Now, Pay Later

Shop Pay installments: Buy now, pay later options explained

Shop Pay offers customers the flexibility to choose between paying for their purchases in full at checkout or opting for an installment plan through Shop Pay Installments. This allows shoppers to split the cost of their order into smaller, more manageable payments over time. 

Here's a breakdown of the Shop Pay Installments options:

1. Interest-free bi-weekly payments (Pay in 4)
Purchase Amount: Orders from $50 to $999.99 USD or CAD.
Payment Structure: Four equal payments made every two weeks.
Interest: 0% interest applied.

First Payment Due: Either at checkout or two weeks after the purchase.
Late Fees: No late fees are charged for missed payments, but late or partial payments might affect future eligibility to use Shop Pay Installments.

Credit Impact: This option typically does not impact your credit score, as a "soft" credit check is usually performed for eligibility. 

2. Monthly payments
Purchase Amount: Orders from $150 to $30,000 USD or CAD.

Payment Structure: Monthly payments over a period of three, six, or twelve months, depending on the purchase amount.

Interest: Monthly installment orders are interest-bearing, with APRs typically ranging from 6% to 36%.

First Payment Due: At checkout.

Late Fees: No late fees are charged for missed payments, but partial or late payments may affect your credit score or future eligibility.

Credit Impact: These payments may be reported to credit bureaus. 

How it works
Add items to your cart.
Select Shop Pay at checkout.
Choose the installment option (Pay in 4 or monthly payments).
Complete a quick eligibility check (which may or may not impact your credit score depending on the chosen option).

Review the installment plan and payment schedule.
Your first payment is due (either at checkout or two weeks later).
The remaining payments are automatically charged to your chosen payment method based on the schedule.

You'll receive email reminders before each payment is due. 

Important considerations
Shop Pay Installments are powered by Affirm.
Final approval for Shop Pay Installments is determined by Affirm on a case-by-case basis.

 

Monthly payments generally require a debit card, while credit cards can be used for the bi-weekly payments.
Certain items, like gift cards, may not be eligible for purchase with Shop Pay Installments.

 

If you make a return, the refund amount will be applied to your Shop Pay Installments balance, potentially reducing future payments or resulting in a refund of the difference to your original payment method.

Interest paid on monthly installments is generally not refundable.