Instalments

Shoppers in Latin America like to pay in instalments - this offers them the flexibility to pay over a chosen period.
You can decide whether or not you want to allow shoppers to pay by instalments, and this is something you agree with your acquirer.

How instalments work

There are two main types of instalments:

  1. Issuer-funded instalments
  2. Merchant-funded instalments

The availability and popularity of these payment types varies within each country.

Where interest is paid on instalment payments you can choose to charge the interest to the shopper within each instalment, absorb the cost yourself, or pass it on to shopper in the overall transaction value.

Note: In Colombia and Peru, the cardholder must pay interest with each instalment.

For issuer-funded instalments, the shopper is debited each time by their issuer. Your acquirer always settles the entire amount on the first transaction/instalment.

Note: Instalments may only be available with certain issuing banks (with a prior agreement needed) and are more expensive than one-off transactions.

For merchant-funded instalments, when a shopper chooses to pay by instalments, the transaction is authorised for the full amount, but may involve partial captures and settlements over a period of time.
You can choose how many instalments to offer your shopper up to the maximum limit.

Note: The maximum number of instalments varies for each card payment method.

There are some rules and considerations for each country. As an example, a country may only allow instalment options in three month increments (3; 6; 9...), up to the maximum number of instalments allowed - you must ensure you only choose this option for these countries. In some countries you must confirm your instalment decision with your acquirer, and in other countries, with your issuer.

For more information, contact your chosen acquiring partner.

Payment by instalments

lataminstalments

NoteDescription
1In Brazil: You enter an agreement with your acquirer, which determine the instalment limits for each card type. In most cases you are settled in instalments, although some acquirers may agree to settle in full, for an extra fee. If the amount is settled in full, some acquirers may charge for this.

Argentina, Mexico, Colombia, Chile, Peru, and Central America: In general the funds are settled to the merchant in full on the first transaction/instalment. Most instalments are issuer funded. In some countries this may require agreements with issuers.
2Processing the authorisation request:

Hosted: The shopper selects the number of instalments on the payment page from a drop down list.

Direct: You send the card details to us, and must include the instalment number. You must therefore capture the instalment value on your payment page.

Note: You can also send sales messages, which authorises and captures payments in one message. You must have this functionality set up with your acquirer and Worldpay. For more information, please speak to your Relationship Manager or emailcorporatesupport@worldpay.com.

3The capture request is sent to the acquirer in real-time.
4Brazil: The first payment is credited to your bank account 30 days later.

Argentina: The payment is credited to your bank 25 days later.

Colombia: The payment is credited 3 days later

Mexico: The payment is credited to your bank account one day later.

Chile and Peru: The payment is credited 2 days later.

Central America: The payment is credited up to 7 days later
5In Argentina and Brazil: The reports are provided by the acquirers to Worldpay. From this, we can generate a transfer report. You can view this data in Pazien.

In Colombia: The acquirer doesn't offer a settlement report, therefore we cannot provide you with a transfer report. If you would like reporting, you must work with a local third party.
6In Brazil, Argentina and Mexico: WPG picks up the settlement report and reconciles the partial/full settlement against the order. Your settlement transfer report is then generated. For everywhere else, step five is repeated.

Note: All countries with Worldpay acquiring have transfer reporting and our reporting platform - Pazien.

7General instalment limits:

Brazil - up to 12 instalments

Argentina - up to 12 instalments

Mexico - up to 18 instalments in sequence: 3; 6; 9; 10; 12; 15

Colombia - up to 36 instalments

Chile - up to 12 instalments without interest. Up to 48 instalments with interest. Instalments are in sequence: 3; 6; 9; 10; 12

Peru - up to 48 instalments

Central America - up to 48 instalments in sequence: 3; 6; 9; 10; 12; 18; 24; 36; 48.

Note: For each instalment option in Central America a separate merchant ID (MID) is required.

Instalments in the Merchant Admin Interface

Prerequisite: This functionality will need to be enabled, so please contact your Relationship Manager or email Corporate Support.

If you allow shoppers to pay through instalments, you are able to see how many instalments the shopper chose in the Merchant Admin Interface (MAI).

  1. Once you'velogged into the MAI, click Transactions then Payments.
  2. You'll see a list of payments. Click the amount of the order you wish to view. The Payment and Order Details window opens, and, within the Payment Details section, the number of Instalments are shown.
    Merchant Interface - Instalments
  3. The amount next to amount in settlement currency is the last settled amount.

Note: As each instalment is settled, a new payment is not created in the Merchant Admin Interface.

Instalments in XML orders

Direct

For payments that are to be paid in instalments, you must collect the number of instalments the shopper wishes to pay in on your payment pages. When the order is submitted to us, include the chosen number of instalments within the <instalments> tab.

Note: For more information, seeDirect Integration.

Hosted

Your shopper can pay in instalments by selecting the amount of instalments on the payment page. For more information, seeHosted integration.

Testing Instalments

You can test the use of Instalments within Secure Test. For more information, see theTestpage.