Installment (payment method)

The payment option "installment" allows customers to split the cost of a purchase into smaller, more manageable payments over a defined period. Instead of paying the full amount upfront, shoppers can opt for installment plans, often with fixed or flexible terms, making high-value items more accessible and budget-friendly.

"Klarna ", "PayPal Credit", "Afterpay" and "Clearpay” are examples of providers. They enhance affordability by allowing customers to split the cost of purchases into manageable, smaller payments. This accessibility can expand the customer base and increase sales. Installments also promote higher average order values, as customers are more likely to opt for pricier items when they can pay overtime.