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.

Discussion
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14 Reviews5.0/5
@mntgmry Andy This page is 404'ing .... Is this the correct link ?
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.
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I wish Twitter evolved just as much and better as Square has. Amazing.
@imrnhdr they are very different platforms; it is not something we can draw parallels between.
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@imrnhdr Did you mean FourSquare?
@imrnhdr Confused, Twitter is a social media platform, Square is a card processor? How do they correlate?
@imrnhdr @mastemine they share the same founder: Jack ;)
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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.
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@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.
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@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.
@jokergreeting @kostgx Ah this makes sense. So the vendor gets the full payment up front. Ok this sounds cool then.
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Any different from Affirm?
@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.
@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.