Yes, Shopify does offer payment plans with its own solution – Shop Pay Installments. There is a catch though – it only works for eligible US based merchants using Shopify Payments and the Shop Pay payment method.
And your customers also have to be eligible to use this method. If the cart amount is over $999, your customers have to complete a credit check and pay interest.
If you are an eligible merchant and your customers are based in the US, then Shop Pay Installments is a great solution for payment plans on Shopify. However if you’re based outside the US or just want more control over how your payment plans work and you sell to a broader audience, you can try Paythen Payment Plans for Shopify. Your customers choose the Payment plan option at checkout, then get an easy link via email to pay for their payment plan. You decide whether or not you want to add additional fees, how much to charge upfront vs. later, whether you want to charge weekly, monthly and over how long.
An important distinction between Paythen and Buy Now Pay Later providers is that while you pay super low fees (2%) and have full control and flexibility over your payment plans and customer relationships, you get paid as your customers pays you, not upfront.
You can read more about how Paythen’s Shopify payment plans work here or see it in action on our Shopify Demo Store. Or ask us anything via the chat icon. We can help get this up and running on your store.
