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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"?
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.
So did you find your payment and are you still using the "Buy now pay later" tool?
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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Does anyone know what happens if a customer defaults? Do you still get paid? Also, can you exclude items?
Thanks
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
How do you log into your affirm account to check payouts? Where do you set that up?
Hi, @LeahMac!
This is Rae from the Shopify team. I'm helping out my colleague Julie with this thread, and I wanted to lend a hand with your question.
As of June 1, 2021, it's no longer necessary for Shopify merchants using Shop Pay Installments to access the Affirm Merchant Dashboard. Instead, all of the details regarding Shop Pay Installments orders, payouts, and analytics are located directly in the Shopify admin.
You can learn more about getting paid from Shop Pay Installments orders by visiting this help document.
Please let me know if this helps clear things up, or if you have any other questions or concerns!
To learn more visit the Shopify Help Center or the Community Blog.
Again that link doesnt work just sends me in circles. I need to speak to someone via email or phone call something.
My payment is showing shop pay installments. It does not show up in my affirm.
So where is it?
Hi, @alyssenn!
I appreciate you reaching out about this situation.
I just followed up on your other post with more details on how to resolve the issue you're experiencing. You can find my reply here. Keep me posted on if those suggestions help you reach a resolution!
In the meantime though, when using Shop Pay Installments, you will be paid by Affirm, through Shopify Payments. Check out this help document for more information on this. How often you're paid also depends on the pay period of the country where you're located. This information is outlined here.
If you've been waiting longer than expected to receive a payout, please let me know and I'll be happy to help out with some next steps.
To learn more visit the Shopify Help Center or the Community Blog.
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