Shop Pay Installments

Shop Pay Installments allows eligible customers to split their purchase into multiple payments, often with 0% interest for a short period or with interest-bearing monthly options for larger purchases.

Payments are managed through the Shop app and are serviced by Affirm, and they are split into bi-weekly or monthly installments depending on location and plan.

Eligibility and specific terms, such as down payments or interest rates, depend on the purchase and your location. 

Payment plans:

• Purchases are split into a set number of payments.
• In the US and Canada, this is often four bi-weekly installments with 0% interest and no fees. 
• In the UK and for larger purchases, monthly interest-bearing plans may be available.
• Many plans are 0% interest, but interest-bearing options are available for certain purchase amounts, with interest rates that can vary. 
• Late fees are not charged, but missed payments can impact your ability to use the service in the future.
• Checking eligibility has no impact on your credit score, and initial use doesn't affect your credit score because there's no hard credit pull.
• The installment option can be used with a debit or credit card, though some cards (like Capital One) may not be accepted.
• Shop Pay Installments is available to eligible customers in the United States, Canada, and the United Kingdom.
• You can view your payment history and manage your installments by logging into your Shop account.
• If you return an item, the refund is processed according to the remaining balance on the installment plan. Any interest paid will not be refunded.
• You can pay off your loan early without any penalty. For interest-bearing loans, this can save you money.