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Amrith

Square Installments - An easy way to offer monthly payment plans to your customers

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

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Eugene Francis Jnr
@mntgmry Andy This page is 404'ing .... Is this the correct link ?
Amrith
Hunter
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.
Imran Haider
I wish Twitter evolved just as much and better as Square has. Amazing.
MaX Falstein
@imrnhdr they are very different platforms; it is not something we can draw parallels between.
Radhakrishnan KG
@imrnhdr Did you mean FourSquare?
Logan Boyd
@imrnhdr Confused, Twitter is a social media platform, Square is a card processor? How do they correlate?
Devo
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
@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
@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
@jokergreeting @kostgx Ah this makes sense. So the vendor gets the full payment up front. Ok this sounds cool then.
Matt Marsh
will this break out to UK soon? @mntgmry "Where is Square Installments available? At this time, Square Installments is only available to residents in Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Louisiana, Massachusetts, Michigan, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington who make purchases at select Square businesses."
Prikshit Gupta
Just curious seller will get full payment upfront?
al
@blossomshirts Sell more when your customers pay with Square Installments. Customers pay over time. You get paid in full and up front. https://squareup.com/us/en/insta...
Prikshit Gupta
@vpnbots and there's no risk to seller?
Abhishek Mishra
Any different from Affirm?
Adam Willis
@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
@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.
Joshua Dance
Payments seems like a negative thing to offer to clients. Enables bad behavior? There are probably scenarios where it is a good thing, but I can think of many.
Michael Green
This will be useful for quite a few of our product lines.
Anthony Lee
This is fantastic.
Eugene Francis Jnr
Is there a date for release in the UK ? What credit reporting agency is used atm ?