Square Installments

An easy way to offer monthly payment plans to your customers

#1 Product of the DayOctober 04, 2018

The simplest way for small businesses to offer monthly payment plans to their customers.

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Andy Montgomery
Andy MontgomeryMaker@mntgmry · Head of Design @ Square, Capital
Eugene Francis Jnr
Eugene Francis Jnr@eugenefrancis · Fin-teching across the universe ....
@mntgmry Andy This page is 404'ing .... Is this the correct link ?
Amrith Shanbhag
Amrith ShanbhagHunter@amrith · Community + Social at Product Hunt
From the site: Your customers can buy what they want, when they want it, with a monthly payment plan. - Short application. It takes a few steps and basic information to apply. - Up-front everything. They see their monthly plans and total fees before they accept. - No nonsense. No deferred interest, prepayment penalty, or surprises.
Radhakrishnan Kg
Radhakrishnan Kg@radhakrishnan_kg
@amrith This is great!!
Imran Haider
Imran Haider@imrnhdr · Product Manager cum Writer
I wish Twitter evolved just as much and better as Square has. Amazing.
MaX Falstein
MaX Falstein@maxfalstein · CEO, CET & Founder of MaX Saxe Design
@imrnhdr they are very different platforms; it is not something we can draw parallels between.
Radhakrishnan Kg
Radhakrishnan Kg@radhakrishnan_kg
@imrnhdr Did you mean FourSquare?
Imran Haider
Imran Haider@imrnhdr · Product Manager cum Writer
@radhakrishnan_kg I mean Square.
Logan Boyd
Logan Boyd@mastemine · Graphic Designer and Photographer
@imrnhdr Confused, Twitter is a social media platform, Square is a card processor? How do they correlate?
Gustavo Garcia G
Gustavo Garcia G@theluctus · Software Engineer
@imrnhdr @mastemine they share the same founder: Jack ;)
Devo@devon_devo_frohne · Senior UX Designer @ Tonal
Im curious though, what happens when the customer decides to not pay after their first installment? Who has to go after them for payment? Affirm gives the company the upfront money and then makes sure the customer pays the bill. The hassle is in getting the customer to pay consistent payments.
Travis Peterson
Travis Peterson@jokergreeting · Innovating New Prank and Funny Ideas
@devon_devo_frohne I haven't read their terms but that video says "credit risk is on us" being square. So that should mean Square does it all and covers the cost.
Kostas Xiradakis
Kostas Xiradakis@kostgx · Product Manager at VivaPayments
@devon_devo_frohne @jokergreeting AFAIK the risk is on the Card Issuer (or issuing bank) for providing credit line to the customer. Merchant Bank (i.e. Square) doesn't have liability on this.
Devo@devon_devo_frohne · Senior UX Designer @ Tonal
@jokergreeting @kostgx Ah this makes sense. So the vendor gets the full payment up front. Ok this sounds cool then.
Abhishek Mishra
Abhishek Mishra@abhi_shek1994 · Co-Founder at Outr & Ten By Six
Any different from Affirm?
Adam Willis
Adam Willis@adamwillis · US Navy
@abhi_shek1994 not sure if it is except that square has become a payment platform that people trust to buy coffee, buy bitcoin, send friends money, pay at restaurants, get email receipts, and probably more. This is just one more step towards making the platform more versatile and from a company we already use.
Abhishek Mishra
Abhishek Mishra@abhi_shek1994 · Co-Founder at Outr & Ten By Six
@adamwillis Apart from buying bitcoins, none of them seem so cost intensive that people would like to pay in instalments and pay for interests. Would be great if Sqaure partners up with electronic stores, luxury retail/e-commerce stores etc. One major challenge would be recovering the amount from people, they can't expect a 100% recovery rate.