![]() ![]() Activate the Show installment payment option option so to show a note reporting the possibility of paying in installment everywhere on the store where the prices and the other active payment methods are displayed.In the Payment type List section, select the option you use for PayPal Commerce Platform. ![]() Go to Step 1 - Website Settings > E-Commerce > Order Management.You just have to make sure that the installment payment option is visible on your online store: If the Buy Now Pay Later service is available in your country and PayPal Commerce Platform is active on your store (see: How to activate and use the PayPal Commerce Platform payment method), you don't have much to do to offer your customers the possibility to pay in installments. Your customers will be able to pay in 3 or 4 times (according to their country) with no interests, nor additional costs. When the order is placed, you as store manager get the whole amount right away, while PayPal will take care of managing the installments. With the PayPal Buy Now Pay Later service you can offer your customers the possibility to safely pay in installments. Modified on: Fri, 16 Dec, 2022 at 2:28 PM They may be able to freeze late fees or offer an alternative option.How to set up the installment payment with the PayPal Buy Now Pay Later service Don't sit in silence Tell the BNPL firm if you know you're going to miss a repayment.Use reminders Track when your next repayment is due by setting alerts on your phone or in your diary.Return unwanted items swiftlySend back any unwanted items promptly to ensure your balance is updated before repayment dates.Set a spending limitMake sure you know what you can realistically afford to pay back before purchasing.Find out more: Section 75 of the Consumer Credit Act.If you use PayPal's 'Pay in 3', you'll benefit from its Buyers Protection scheme, which helps you secure your money back if your order doesn't turn up or isn't as described.īoth Klarna and Laybuy told Which? that they would cancel the debt if something went wrong with an order, while Clearpay said that customers may be refunded if the issue with the retailer couldn't be resolved. This means you won't be protected by Section 75 of the Consumer Credit Act (as you would with other forms of credit) if something goes wrong with your order.Įach BNPL firm has its own protection policy in lieu of Section 75, so it's worth looking into this before signing up to one. Something's gone wrong with my order: what protections do I have?Īside from Klarna's 'Pay in 6 - 36 months' finance option, BNPL schemes aren't regulated under the Consumer Credit Act. Find out more: can using a BNPL scheme harm my credit score?.If you continue not to pay they may arrange for a debt-collection agency to collect the amount owed. And if you don't make the payment within the next seven days, you'll be charged a further fee of £6. If you don't make a payment on its due date, you then have a further 24 hours to pay, or you'll be charged another £6 fee. For orders above £24, late fees are capped at 25% of the original order or at £36 - whichever is less. Orders below £24 are subject to a maximum late fee of £6. A further £6 is then taken if the payment remains unpaid seven days after the due date. The initial late fee for a missed repayment is £6. If the debt remains unpaid after several months, your information could be passed on to a debt-collection agency. And if this payment fails, it will then try again in a further seven days. If you choose to 'Pay Later in 3' and don't have enough money in your account on the agreed repayment dates, Klarna will try again after seven days. Klarna doesn't ever charge late fees with 'Pay in 30 days' or with its 'Pay Later in 3' option. If your repayment fails and you take no action to resolve the situation, you will incur a £12 late fee.
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