Shop Pay Installments is available for US merchants
Shopify announced they launched Shop Pay Installments products in the United States. This is the result of a partnership between Shopify and Affirm. Whereby, Shop Pay Installments is now available for US merchants and will be automatically enabled for new merchants when they enable Shopify Payments and Shop Pay.
Shop Pay Installments helps merchants give their buyers flexibility when paying for purchases at checkout. Buyers can split payments into four equal installments, interest-free and with no additional fees.
By activating Shop Pay Installments, merchants unlock significant benefits:
- Access to one of the largest US consumer networks of any buy now, pay later provider through Shop Pay, our accelerated checkout method, and Shop, our shopping assistant app. Merchants can seamlessly serve the millions of US consumers already using Shop Pay to complete their purchases and using Shop to get real-time shipping updates on their orders.
- A seamless checkout experience with higher conversion and order values. Unlike another buy now, pay later providers, Shop Pay Installments allows merchants to offer a fast, easy checkout experience through Shop Pay, instead of sending buyers offsite and risking abandoned purchases. Shop Pay checkouts:
- Are 4x faster than regular checkouts
- Have an average checkout-to-order rate 1.72x higher than regular checkouts
- Convert at almost double the rate of regular checkouts on mobile
- Direct integration of Shop Pay Installments with their Shopify stores. Merchants are able to easily measure their performance, sales, and fees in one place — the platform where they run and grow their businesses.
- With Shop Pay Installments fully integrated with their Shopify stores, including their inventory, merchants can also avoid overselling at critical moments like flash sales when offering a buy now, pay later option to their customers. This saves them time and gives shoppers a better experience.
- Transparency builds trust with buyers. Through Affirm, Shop Pay Installments helps merchants provide buyers with increased flexibility and affordability at checkout with the option to split purchases into four equal interest-free payments. There are no additional, hidden, or late fees, helping merchants build trust with their customers
US merchants interested in Shop Pay Installments can check their eligibility here.
Source: Shopify News