Shopify is launching a buy now, pay later service - Shop Pay Installments

Asked 4 years ago

Shopify announced the launch of Shop Pay Installments - a buy now, pay later service. How is it going to be in comparison to the available services? When and where is it going to be available?

Buy now pay later Shoppay installments Affirm app Klarna app

Mark Guthrie

Saturday, July 04, 2020

Hi, Mark here from KeepShoppers
Shop Pay Installments, the new buy now, pay later service by Shopify, is going to be available by the end of 2020 to U.S. merchants eligible for Shopify Payments. It will let merchants give their customers the option to split their payments into four equal installments, with no interest or additional fees, while the merchants will still get paid “instantly".

This new service is going to compete with well established solutions like Affirm, Klarna, Clearpay, and Afterpay. A clear expected advantage is that this solution could be well integrated within the Shopify admin and offer a seamless checkout experience. Other Shopify services usually provide a good and simple solution for basic users, while heavy users who seek advanced features would choose third-party services. 
The exact terms of Shop Pay Installments were not published yet. It is possible to join the waitlist and sign up for updates here - https://www.shopify.com/shop-pay-installments