How do I add Installments Enabled by Visa to my POS device or online checkout?

Add Installments Enabled by Visa today by contacting a sales representative. Our sales reps will assess whether your device or online checkout is compatible with installments.

How does Installments Enabled by Visa work on an eligible card?

For a purchase made with Installments Enabled by Visa, the customer will be billed by their card-issuing bank in fixed, equal amounts. No additional soft credit checks are required, and no need to sign up for a new account.

What type of installment plans are available?

We offer flexible installment plans with terms of 3, 6, 12, 18, 24, 36, and 48 months.

What are our funding options?

There are also two installment funding options we offer: Consumer Funded – The cardholder covers any fees or interest when using Installments Enabled by Visa to make a purchase. Consumer-funded installment plan fees include: 0.20% (Visa installment access fee) + 0.25% (Moneris installment fee). Merchant Funded - Merchant covers the financing costs associated with offering installment plans. Merchant-funded installment plan fees include 0.20% (Visa installment access fee) + 0.25% (Moneris installment fee) + (Funding costs).

What are the fees associated with offering Installments Enabled by Visa?

There are three fees associated with Installments Enabled by Visa. Merchants pay these fees only once per installment transaction. 1. Moneris Installment Fee – Charged on all installment transactions in addition to other Moneris fees as applicable. 2. Visa Installment Access Fee (Installment Eligibility Fee) – 0.20% charged by Visa and passed through by Moneris without mark-up. Fee not returned on refunds. 3. Visa Installment Funding Fee – Charged by Visa and can be merchant or consumer funded depending on the plans. *Please note these are all transactional fees.

My customer is using a card from a non-Visa network. Why is their non-Visa card eligible for Installments Enabled by Visa?

For a purchase made with Installments Enabled by Visa, the customer will be billed by their card-issuing bank in fixed, equal amounts. No additional soft credit checks are required, and no need to sign up for a new account.

Does Installments Enabled by Visa require a new line of credit? Is a credit check required?

No credit check is required. Any Installments Enabled by Visa options presented at checkout are determined by the customer's card-issuing bank, which takes into consideration the customer's existing credit limit on their eligible card.

How does my customer's scheduling of installment payments work?

Payment and servicing of the customer's installment plan is through their card-issuing bank. The installment amount due and due date will be part of the customer's billing or account statement for their card and may be included in their minimum payment due.

Installments Enabled by Visa

Buy now, pay later with Installments Enabled by Visa.

Help increase sales and revenue by giving your customers the option to split their purchases into easy, equal payments both in-store and online.

Installments Enabled by Visa

With Installments Enabled by Visa, eligible Canadian cardholders can pay for qualifying purchases in easy, equal payments over a defined period, with no need to sign up. Offer flexible payment options with installment plans ranging from 3, 6, or up to 48 months, with the ability to update plans at any time.

Did you know?

34%¹ of Canadians are more likely to shop again at stores offering installment payment options.

20-30%¹ average increase in ticket size when customers are given the flexibility to pay in installments.

How to set up installments for your business

Access

Navigate

For online checkout: Settings – Developer Tools – Moneris Checkout. For terminal: Settings – Terminal – Installments Enabled by Visa.

Configure

In the installments section, toggle on/off and confirm limits and plans.

Offer your customers easy, equal installment payments today.

Help boost sales and revenue while helping your customers buy more of what they love.

Get started

Get started

How to use installments as a customer

Select

At checkout, eligible cards will activate payment plan options of 3, 6, or up to 48 months.

Authorize

Select your preferred installment plan from the available options and agree to the terms.

Pay later

View installment information on receipt and pay through your monthly bank statement.

Frequently Asked Questions

Get started today

Offer your customers easy, equal installment payments today.

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