How does a Smart Installment plan work?

Our platform offers a variety of payment methods that allow our buyers to make their purchases more easily.

One of these methods is the Smart Installment plan, which offers the possibility for buyers to divide their purchase into monthly installments, without the total amount of the product blocking or taking up their credit card limit. In addition, this payment plan is a good option for countries that don't have the possibility of making their purchases in installments directly on their card.

This payment method gives our buyers the opportunity to purchase products more easily if they are unable to pay for the full value of a product in a single payment.

For example, if you want to buy a $200 product, but you don't have enough balance on your card to pay the full amount, or you don't have a credit limit that allows you to make the purchase in installments, with Smart Installments you can pay in installments by dividing the total amount into monthly payments. These installments will be charged individually to the credit card used at the time of purchase. 

This means that, with Smart Installments, each month you will receive a new charge with the proportional amount of the installment, until you complete the payments. 

However, it's important to clarify that a Smart Installment plan is different from a subscription plan. This is because, by signing up for a subscription, buyers agree to recurring charges for a period determined by the Producer and can cancel at any time. On the other hand, in a Smart Installment plan, by purchasing the product with this payment method, the buyer agrees to pay for the product in a number of fixed installments, and it is not possible to cancel pending payments or request a refund if the first installment of the purchase is outside the guarantee period. If you have any questions about canceling or refunding this payment method, you can consult our article Is it possible to cancel a Smart Installment plan?.

Below, you can see the main differences between a Smart Installment plan and a subscription:

Smart Installment	Subscription
When you subscribe to a Smart Installment plan, you agree to pay a set number of installments.	When you contract a subscription, you authorize recurring payments for as long as it is active.
If a payment is overdue, access is blocked. If more than one installment is overdue, you will have to pay for all before you can access the product again.	If a payment is overdue, access is blocked. However, it will be released when the payment for the current month is made.
The installments are charged monthly on the same day of the month, until all the installments defined at the time of purchase are completed.	Payments are made in each time period (can be weekly, monthly, half-yearly or yearly) for a number of times set by the Producer, or until the buyer cancels the plan.
It is only possible to cancel outstanding installments if the request is made within the guarantee period of the initial transaction of the purchase. Once the period has expired, it will not be possible to cancel outstanding installments until the full amount has been paid.	You can cancel your subscription at any time. However, the possibility of obtaining a refund for a subscription only applies to the initial transaction for signing up to the product, if it is still within the period.

Important information:

• Smart Installment plans are not available for purchases in Reais (BRL), Colombian Pesos (COP), Chilean Pesos (CLP), Mexican Pesos (MNX) and Soles (PEN). In these currencies, installments are offered directly with the bank, using the credit card limit.
• For the Smart Installment plan to be available as a payment option, the Producer must enable this payment method for their product.
• Each recurrence is billed separately, so it's up to the Producer to anticipate payments. In this case, you can contact them via their support e-mail address.