Payment schedule
Depending on where you make your purchase, a down payment may be required at the time of checkout. After your first payment, you're charged either biweekly or monthly, depending on the payment option that you chose. You're reminded by email and SMS text (if applicable) before each payment is charged to your card. You can also turn on push notifications in the Shop app to be reminded about upcoming charges. You can't customize your payment schedule.
Late fees and credit reporting
There are no late fees associated with Shop Pay Installments orders. While there's no impact to your credit when you apply to use Shop Pay Installments, your loan and payment information may be shared with credit reporting agencies.
Refunds on orders paid with Shop Pay Installments
Contact the store you purchased from to request a refund. They can let you know whether a return is possible and how much the refund would be, according to their own policies. While you’re waiting for your refund, you need to continue to make any payments that are due.
The following are key details you need to know about getting a refund when you’ve used Shop Pay Installments:
- Refund timing: If a refund is processed by an online store, then it will appear on your original payment method within 3 to 10 business days, and your installments balance and payments will automatically be updated.
- Refund application: The refund is first applied to any outstanding installment balance of the order. Any remaining refund amount is then returned to your original payment method.
- Refund notification: You will receive an email from Affirm explaining how the refund was allocated between your remaining balance and your payment method.
Updating payment methods
Here's how to update your payment methods for both future purchases and existing installment orders:
- For future purchases: Updating the payment method in your Shop Pay account affects only future purchases with Shop Pay. This change will not impact the payment method for existing installment orders.
- For existing installment orders: To change the payment details for ongoing installment payments, you must update the payment method specifically for each existing Shop Pay Installments order.
Troubleshooting installment orders
If you're encountering issues with your installment orders, consider the following common problems and solutions:
- Order not visible: If you cannot see your installment order in your Shop Pay account or the Shop app, then check that you are logged in with the same email address used for the order. This is the email where you received the order confirmation.
- Overpayments: In cases where you've accidentally overpaid on your total installment balance, Affirm will automatically refund the payment method you used. If the overpayment occurred on a single monthly payment, then the additional funds will be credited towards your total installment balance. Alternatively, you can request a refund for the excess amount by completing a form in Affirm’s Help Center.