Easy Monthly Payment Installment Plans
1. The customer clicks on check-out and directed to the page where it asks for customer’s card details.
2. Upon entering the card details a prompt of Installments option will appear on the screen. The option will only become available when:
a. The customer reached the threshold to qualify the feature and
b. The customer’s card is enrolled by his/her bank for this feature
3. If the customer opts for the Installments, plans will be provided with the corresponding percentage of interests.
4. The WHOLE amount of the product or service they purchased will be automatically deducted from the cardholder’s account.
5. PayFort then sends the data of the customers who opted for Installments to the participating banks after 2 days of the transaction to apply the service.
6. The issuing bank issues a bank statement to the customer with the amount of the purchased service or product upon the agreed amount during checkout (payment will be collected from the customer on Installment basis).
7. The credit limit of the card will be released based on the installment paid by the customer on a monthly basis.