About Shop Pay Installments
About Shop Pay Installments
Installments
Shop Pay offers you the option to pay in full at checkout, or to split your purchase into regular payments with Shop Pay Installments, both online and in store. Installment options vary by store and can be used on orders over $50 USD, including discounts, shipping, and taxes.
Payment plans
Purchases between $50 USD to $30,000 USD are eligible for Shop Pay Installments, with options to:
Pay in 2 for purchases $35 to $50
Two interest-free payments every 15 days
Pay in 4 for purchases $50 to $999
Interest-free payments every 2 weeks
Pay monthly for purchases $150 to $30,000
3, 6, or 12-month terms
Rates from 0-36% APR
Note: Minimum purchase amounts and offers may vary by retailer. Orders over $20,000 will be subject to a $10,000 down payment.
Eligibility requirements and credit score
You must be over the age of 18, reside in the US, and be paying in USD to use Shop Pay Installments.
Checking your eligibility will not impact your credit. Once payment plan terms are accepted, your payments may be reported to a credit bureau.
Note: To use Shop Pay Installments you need a US shipping address.
Fees or penalties
For purchases split into 2 or 4 bi-weekly payments, there are no additional charges or interest rates applied. Purchases split into monthly payments may be subject to interest.
You can pay your balance off early without penalty.
There are no late fees. However, partial or late payments may affect your ability to use Shop Pay Installments in the future.
Restricted items
There are some items that you can’t use Shop Pay Installments to purchase, including, but not limited to:
Cash advances
Illegal items and activities
Weapons, including parts and accessories
Narcotics
Regulated products such as tobacco or drug paraphernalia
Currency, including cryptocurrency
PayPal, Venmo, and other money transfer services
Loan and credit card payments
Terms of Service
Learn more about Affirm’s Terms of Service or Shop’s Terms of Service.
Disclosure
Rates from 0-36% APR. Payment options through Shop Pay Installments are subject to an eligibility check and are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. State notices to consumers: affirm.com/licenses.
For example, a $800 purchase could be split into 12 monthly payments of $72.21 at 15% APR, or 4 interest-free payments of $200 every 2 weeks.
Shop Pay Installments is offered in partnership with Affirm. Affirm is the servicer of your loan, and you can manage payments in your Shop Pay account or with Affirm directly.
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Talk about your brand
Share information about your brand with your customers. Describe a product, make announcements, or welcome customers to your store.