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Description of Service

Instalment Transactions are often confused with Recurring Transactions.

A simple definition is: single purchase of goods and services billed to an account in multiple segments, over a period of time agreed between a Cardholder and Merchant.

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 Instalment Transaction represents a single purchase, with payment occurring on a schedule, agreed by a cardholder and merchant. 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. WebCollect can handle two types of installments:

Installments by Issuer

You will receive the total amount of the transaction in one payment. This transaction type is more expensive since the issuer is the one financing the consumer.

Installments by Store

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.

Description of Service

Instalment Transactions are often confused with Recurring Transactions.

A simple definition is: single purchase of goods and services billed to an account in multiple segments, over a period of time agreed between a Cardholder and Merchant.

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 Instalment Transaction represents a single purchase, with payment occurring on a schedule, agreed by a cardholder and merchant. 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. WebCollect can handle two types of installments:

Installments by Issuer

You will receive the total amount of the transaction in one payment. This transaction type is more expensive since the issuer is the one financing the consumer.

Installments by Store

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.