Hello,
Most of my customers are based in South Korea and I want to make installment payment plans an option for them. Is there a provider or way this can be achieved?
Hi @winedrop ,
Thank you for reaching out to the Community! I’m happy to provide some assistance with this request, to ensure it gets resolved.
To share some insight, Shopify has integrated with over 100 different third-party payment providers to allow you to continue accepting credit cards online. Due to this, I encourage you to check out this complete list of all available payment providers within South Korea.
I see that Sezzle Payments is available and believe that they may offer this installment option. I encourage you however, to connect with them directly. They will be able to share more information with you and advise whether this option is supported.
For more information on this, you can check our Third-Party Payment Providers documentation as it touches on this further.
Please let me know if you have any other questions or concerns.
It is now available via Stripe with Easy-Pie for Shopify, if you have a Stripe US account you can accept wallets (Kakao Pay, Naver Pay, Samsung Pay, PayCo) and all local cards in South Korea in KRW without a local entity.
In KRW, it also supports credit debit cards like Visa Matercard etc., Apple Pay and Goole Pay.
Installments
Local card issuers in South Korea can offer installments on purchases 50,000 KRW and above. This lets customers pay for their purchase over time, for example, to complete the payment over 3 months. Installments are popular with customers who want to purchase goods with higher order values.
Installments are solely between customers and their card issuers. As a business, you receive the full amount for your purchase up front, and your customer is responsible for completing the installment payments to the issuer. In the event that your customer is unable to complete their installments to their issuer, you keep the funds.
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Now available for Stripe EU/HK/UK/US accounts