# Pay in Installments Benefits Alternative Payments offers invoice financing (Pay in Installments) at checkout to allow your customers to break up invoices into smaller payments to better manage cash flow. {% hint style="warning" %} **Availability:** Pay in Installments is currently available to **U.S.-based customers only**. {% endhint %} If your customers elect to take advantage of this offering, you are still paid the full amount of the invoice upfront, regardless of their chosen duration, and we handle collections. The guide below will provide an overview of our Pay in Installments offering to allow you to effectively communicate the details to your customers. *** ### **Pay in Installments Terms** The below schedule outlines the duration options we offer, ranging from 30 - 150 days with equal installments due every 30 days. The fee ranges from 3.0% - 7.0% depending on the duration selected. Here’s the table recreated in text format: | Term | Fee | Payments | | -------- | ---- | ---------- | | 30 days | 3.0% | 1 payment | | 60 days | 4.0% | 2 payments | | 90 days | 5.0% | 3 payments | | 120 days | 6.0% | 4 payments | | 150 days | 7.0% | 5 payments | *** ### **Instructions for Submitting a Pay-in-Installments Request** You can send the below instructions to any customer interested in submitting a Pay in Installments request to walk them through the process. Your customer success rep can provide assistance if they experience any issues. 1. Use your email to login to our payment portal: \[insert billing link] 2. In "Outstanding invoices", locate the invoice you want to pay and select "Pay", or select "Pay other invoice" and enter the invoice details 3. On the "Choose your payment methods" screen, select Pay in installments and toggle the net terms slider to your preferred duration 4. Confirm your business details 5. Review and confirm the Alternative Payments agreement 6. Add a bank account and click "Continue" to submit your request 7. The Alternative team will reach out to you for financials once the request is submitted. *** ### **Alternative Payments Diligence Process** Alternative Payments conducts a light diligence process on your customer before approving a Pay in Installments request. This process typically takes less than 24 hours and approval rates are 90+%. For customers wondering about the diligence process, we typically require additional financial information, which includes: 1. Bank statements for the last 12 months. 2. Financial statements (Income Statement and Balance Sheet) for the last 24 months, quarterly or monthly, in Excel if available If you have any additional questions on our diligence process, our underwriting team can walk you through the process in more detail. *** ### **Customer Pre-Approval Process** To expedite the approval process once an invoice is submitted, many partners utilize the pre-approval process in order to get customers approved before they submit the Pay in Installments request. If you are interested in pre-approving customers for financing, we recommend your sales team follow the below steps as the sale is being finalized. 1. Provide customers with a list of required financial information, which includes: 1. Bank statements for the last 12 months, and 2. Financial statements (Income Statement and Balance Sheet) for the last 24 months, quarterly or monthly, in Excel if available 2. Connect your customer with your Alternative Payments customer success rep 3. Forward customer financial information if provided to you directly; otherwise, the customer will send financial information to the customer success rep 4. Your customer success rep will loop in the Alternative Payments underwriting team to review the financial information and ask any questions that arise. This is a light due diligence process and may involve follow-up questions over email or a quick phone call. 5. Once the diligence process is complete, the underwriting team will provide an approval or rejection 6. If approved, your customer can follow the Instructions for Submitting a Pay in Installments Request above. *** ### **Sales Team Training** Alternative Payments offers sales team training to walk your sales team through our offering and provide strategies and talking points for how to communicate Pay in Installments to customers. If you would like to set up a training session, please contact your customer success rep. To learn more, visit [www.alternativepayments.io/financing](https://www.alternativepayments.io/financing/) **Love our platform?** Rate us on [Channel Program](https://channelprogram.com/v/alternativepayments) and check out our [Referral Program page](https://www.alternativepayments.io/referral-partners/)! --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://help.alternativepayments.io/payments-and-invoicing/bnpl-pay-in-installments/pay-in-installments-benefits.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. 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