Shop Pay Installments, exclusively powered by Affirm, are now available for all Shopify merchants and shoppers. And before you ask, yeah, that’s awesome news!
Shop Pay installments basically means buy now, pay later, that if you have a pristine credit score. We’re only kidding, because this financial product is specifically designed for Shopify merchants, and it’s now available to hundreds of thousands of webstores in the United States.
If you’re an US merchant on Shopify, the new feature will be automatically enabled as soon as you enable Shopify Payments and Shop Pay.
With Shop Pay installments now fully integrated into the platform, merchants will benefit from a centralized view into everything from performance to product pages to inventory. And yes, that’s good for business, as according to data gathered so far, 1 in 4 Shopify merchants using Shop Pay installments during early access saw 50 percent higher average order value compared to other payment methods.
Moreover, Shop Pay installments reduced abandoned carts by 28 percent after switching from a third-party buy now, pay later solution.
Basically, this new payment feature helps Shopify businesses to offer their clients more flexibility in terms of paying for merchandise at checkout, and since clients can now split payments into 4 equal installments, with no extra fees and zero interest, things look great.
By activating Shopify’s latest payment feature, merchants will benefit from full access of one of the largest U.S. consumer networks, a seamless checkout experience with higher conversion and order values, direct integration of Shop Pay Installments with their Shopify stores, and transparency that builds trust with buyers.
U.S. merchants interested in Shop Pay Installments can check their eligibility here.