The area of online payments is one of the most evolved in recent years in the eCommerce sector. New forms of payment and new tools have arrived to change the purchasing habits of millions of consumers. Among the proposals with the best reception in this field are deferred payment tools, which allow customers to decide to make purchases more easily, choosing when and how to pay.
Remember: how many The more payment options you offer your customers, the more likely it is that they will be encouraged to close a transaction. In this sense, Amazon has the for sellers that offer Amazon Pay on their website.
Pay in 4 and Credit Line, the financing tools for online purchases from Amazon Pay and Cofidis
«Pay in 4″ is a financing service offered by the Amazon platform thanks to an alliance with Cofidis, with which your customers can finance their purchases with a value between 60 and 1,000 euros. Thus, they can make their payment in 4 installments, within 90 days.
For its part, “Creditline” It is a reusable line of credit offered and approved by Cofidis, with which customers can access loans between 45 and 3,000 euros, which can be used in one or more purchases from your online store. The client can choose to pay the credit in 3, 6, 10, 12, 24 or 30 months, depending on the total amount that has been financed. In this case, the minimum fee is 15 euros.
From the seller’s point of view
The integration of this payment method is done automatically, without the electronic seller having to make any software or platform updates. The Pay in 4 and Credit Line option will be automatically available in the Amazon Pay wallet widget for Spanish sellers and will be shown to customers in the payment methods section at the end of the purchase process. All buyers residing in Spain may opt for it.
Of course, it is very important that your Amazon Payments account is active and the products you offer are suitable for the offer, as these payment options are not available for selling Amazon gift vouchers, digital product purchases (music, videos, Kindle books, game or app downloads), pre-order products, or out-of-stock products.
In order for you to keep track of which customers have used these financing options, all you have to do is log in to your SellerCentral, select the “Transactions” page and finally check the “Payment Type” column. All payments that have been made using Pay in 4 and Credit Line will be shown as “Instalments”.
In case of returns and refunds, You only have to reimburse the amount that has been collected so far. If it is a purchase with several products, but the customer only returns part of the order, the cost of the product must be calculated and the amount paid must be refunded.
From the buyer’s point of view
For shoppers, these two options are presented as useful ways to make purchases that they can’t or don’t want to make right away. In the case of “Pay in 4”, buyers will only need to complete an online application and attach the photo of their DNI/NIE. Cofidis accepts any credit/debit card except American Express, foreign, virtual or prepaid cards. The first installment will be charged the day after the last product of your order is shipped. Subsequently, the charges will be made to day + 32, day + 63 and day + 90 from the day that this last product was sent.
For Credit Line, once the entire order has been shipped, receipts are typically uploaded on the second day of the month. If the delivery date is before the due date, between the 22nd and 27th of the month (M), the receipt will be charged on the second day of the following month (M + 1). If the shipment is made after that deadline, the receipt will be charged on the second day of M + 2.
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