At the last Shopify re-unite announcement last week, the new APP or feature to allow installment payments was made.
First, if this is a feature and this post is in the wrong category, please feel free to move it.
Now, when will this be available to use? What are the details?
And how do we avoid a customer cancelling their payment after two months (a possible con)? For example,s you sell a $1200 item and allow 6 months installment payments of $200 per month. After two month, the customer calls their credit card company to cancel the rest of the payments.
Will there be any legal safeguard for us to protect against this? Perhaps something the customer agrees to on the checkout page and credit companies side with the store owner?