What are installments?
Installment transactions are often confused with recurring transactions.
A simple definition of installments is: single purchase of goods and services billed to an account in multiple segments, over a period of time agreed between your consumer (the cardholder) and you.
The distinction between the two transactions is that a recurring transaction is a payment for goods or services that are received over time, however, an installment transaction represents a single purchase, with payment occurring on a schedule, agreed by your consumer (the cardholder) and you. In other words, it is one of the portions into which a debt is divided for payment at regular intervals.
In the case of installments, the credit card transaction is debited to the consumer in equal parts each month until the fixed number of payments is reached and the total amount to be compensated is completed.
Installments by issuer
The consumer will select the number of installments on your checkout page. You will provide us with the details of the choice the consumer made in the API request. You will finance the consumer; therefore the store will be remitted in equal fractions of the payment through the months selected by the customer.
It is important to mention that transaction rules such as: availability, days for remittance, maximum number of installments and costs will differ per acquirer and per country.