Payment in 10 instalments: everything you need to know

Payment in 10 times simplified for your customers

Consumers don't always have the money to pay for large purchases. To remedy this, more and more merchants are offering financing solutions, such as payment in 10 installments. How does this work? What are the advantages? How can you benefit from it?

10x payment definition

The principle of the 10 times payment is relatively simple. It is a device that consists in paying a purchase in 10 instalments, instead of making a traditional full payment.

How does it work?

When paying for a purchase on an e-commerce site or in a store, the consumer selects the 10x payment method. The merchant site then receives the customer's credit card details. Before accepting the financing, Pledg verifies the creditworthiness of the customer, based on a scoring of certain payment information and personal data. The acceptance or not of the financing is done in an instantaneous way, because the granting process is entirely automated.

Before concluding the purchase, the customer will find a summary table on the payment page that indicates all the information related to the credit he/she is committed to, including the amount of each installment as well as their respective debit dates. The payment schedule will be confirmed again after the purchase. The first payment is made at the time of the transaction.

Requirement: A suitable bank card

Of course, the customer must have a bank card. Sometimes the request is refused, especially in the case of an inappropriate bank card. Systematically authorized cards such as Mastercard Maestro or Visa Electron, as well as prepaid cards, are incompatible with the deferred payment systems of finance providers such as Pledg.

The application is also refused if the bank card expires before the last due date. The bank does not allow payment in 10 instalments if there is a suspicion of fraud, especially if the purchase does not correspond to the customer's consumption habits.

What are the benefits?

Payment in 10 instalments is an advantageous solution for both parties.

For consumers

Thanks to the 10-installment payment by credit card, consumers can access a good or service even if they do not have the required amount at the time of purchase. The system improves the purchasing power of consumers, particularly in the case of large expenses. No administrative steps are required and the customer experience is similar to that of a traditional online payment. The response to the request is immediate. There is no need to create an account or a file.

For merchants

For merchants, the 10x secure payment is a real lever to boost sales. This type of payment facility increases the average shopping basket and at the same time increases buyer loyalty. Pledg takes care of debt collection and reminders. The merchant receives the full amount of the buyer's order immediately. The system has no impact on his cash flow.

Payment in 10x: with or without fees?

Payment in 10 instalments without charge, as the name suggests, does not involve any additional costs for the end consumer. The purchase price of the good or service is simply split into 10 installments. On the other hand, as this is a paid service, the cost of setting up the financing remains the responsibility of the merchant.
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