Shop Pay Installments

Pilotlot7
New Member
4 0 0

Who have used the Shop Pay Installments that is managed by Affirm and how is it working for you, Please? Is it correct that when such a transaction occur you as the seller still get paid-out the full amount immediately? Affirm carries the l "loan"?

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cbear
Tourist
13 0 1

I was recently invited to sign up. I just received my first order from someone using it and I can't for the life of me figure out where the payment went. It doesn't even show up in my daily accrued sales. The banner on the "Shop Pay Installments by Shopify" clearly states "Get paid upfront, risk-free - Get the full purchase amount (less fees) upfront. Don't worry about collecting future payments from your customers." - Seeing I can't find the payment, I'm now here searching for answers. I'm really not in a place to "loan" out the funds, since I have inventory that will need to be replaced.

Pilotlot7
New Member
4 0 0

So did you find your payment and are you still using the "Buy now pay later" tool?

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Julie
Shopify Staff
Shopify Staff
1103 105 259

Hi, @cbear!

Julie here from Shopify Support.

Have you tried accessing your Affirm account to view your payout (Affirm refers to these as settlements)? Since Affirm is a third-party processor, you should be able to log in to your Affirm dashboard and see the settlements there. 

Your Affirm dashboard should also provide you with further information about your settlements, like when you will be receiving them and which account they will be deposited into. 

If you still need help tracking those down and reconciling them with your Shopify orders, then please contact our Support team directly. Our Support team will be able to authenticate your account, access your admin, and help clear up any confusion you may have. 

Let me know how that goes!

Julie | Social Care @ Shopify 
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Thomas_Sansone
Excursionist
20 0 2

Does anyone know what happens if a customer defaults? Do you still get paid? Also, can you exclude items?

Thanks

Julie
Shopify Staff
Shopify Staff
1103 105 259

Hi, @Thomas_Sansone! Great questions. 

According to the Shop Pay Installments FAQ, you will receive full payment for orders upfront, excluding the fee incurred for using Shop Pay Installments. Payouts will be deposited within 1-3 business days and they will be sent to the same bank account that you use with Shopify Payments.

This means that you won't need to collect installments from customers; that's all handled on Affirm's end and you can learn more about the customer experience here.

If a customer defaults on their payment, this won't affect you. However, late payments and non-payments may affect buyers' eligibility for making purchases through Shop Pay Installments in the future.

To address your second question, it's not currently possible for merchants to exclude specific products from Shop Pay Installments. This payment method is available for all products in your store within the eligible price range, excluding gift cards.

I hope this clears things up! Let me know if you have any further questions.

Julie | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog