Instalment Payments
Instalment payments allow shoppers to pay their order amount in parts if the order amount is too high to pay at once. The instalments have to be completed within a specific period chosen by the merchant. The goods or services are delivered after an initial payment, and the instalment debits are carried out periodically until the total amount is paid.
Instalments can be done through the most popular and secure payments like Invoice and Direct Debit SEPA. Instalments or recurring payments give you more chances to increase sales on your webshop. The payment methods used for Instalment payments give you a full guarantee against the risk of non-payment - we will take care of payment defaults for you.
Benefits of Novalnet’s Instalment payments for merchants and shoppers:
- Interest-free recurring payments appear flexible for shoppers leading to higher client conversion and retention rates. Flexible payments result in a significant increase in sales and the average cart value.
- Merchants have a 100% payment guarantee, as our clients are insured against non-payment. Once the shopper's credibility is authentic, you will receive a payment guarantee from Novalnet.
- To ensure overdue payment collection from shoppers, Novalnet initiates the dunning process, from periodic payment reminders to payment collection. Additionally, Novalnet doesn't charge any reminder fees.
- Merchants can customize Instalment payment plans by configuring the number and frequency of instalments without any limitations.
Instalment by invoice
| Payment Type | INSTALMENT_INVOICE |
| Type | BANK-TRANSFER |
| Supported Countries (B2C) | 
Austria (AT)
Switzerland (CH)
Germany (DE)
|
| Supported Countries (B2B) | 
European Union (EU)
Switzerland (CH)
|
| Supported Currencies | EUR |
| Authorization | Yes |
| Transaction Refund | Yes |
| Tokenization | No |
| Recurring | No |
| Transmission of the customer number | No |
Instalment by Direct Debit SEPA
| Payment Type | INSTALMENT_DIRECT_DEBIT_SEPA |
| Type | DIRECT-DEBIT |
| Supported Countries (B2C) |
Austria (AT)
Switzerland (CH)
Germany (DE)
|
| Supported Countries (B2B) |
European Union (EU)
Switzerland (CH)
|
| Supported Currencies | EUR |
| Authorization | Yes |
| Transaction Refund | Yes |
| Tokenization | Yes |
| Recurring | No |
| Transmission of the customer number | No |
Basic requirements
- Allowed B2C countries: Germany, Austria and Switzerland.
- Allowed B2B countries: European Union and Switzerland.
- Allowed currency: EUR (Euro)
- Minimum total instalment amount: 19.98 EUR or more (The minimum amount of an instalment cycle is 9.99 EUR and the minimum instalment cycle that can be offered is 2, which makes it 19.98 EUR).
- Minimum Instalment cycle amount: 9.99 EUR
- The list of offered payment cycles: 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 15, 18, 21, 24 and 36. The pre-selected cycle list is 2.
- Age limit: 18 years or more.
- The billing address must be the same as the shipping address.
Try it yourself
Before integrating instalment payments into your webshop, do you want to simulate the checkout flow? Give the instalment payments demo a try to view how instalment payment checkout handles payment responses. Choose the Business Type (B2B/B2C), pick a payment method, choose an instalment plan, and click Pay Now to get started. Refer to /resources/testing for the test data required for the mock transaction.
B2B stands for Business to Business, where transactions are made to exchange products or services between businesses. For e.g., merchants to retailers. Retailers or vendors have to provide their company names while transacting.
B2C stands for Business to Shoppers where transactions are made for exchange of products or services between a business.and a shopper. For eg., retailers to shoppers. Shoppers have to provide their date of birth while transacting.
How do instalment payments work?
- Shoppers choose instalment payments as the payment type on the checkout page.
- The total order amount will be split into parts to be paid for upcoming months.
- If shoppers choose an invoice for handling instalments, products will be delivered to them, and they will be prompted to pay the invoice until the due date.
- If shoppers choose Direct Debit for handling instalments, the first instalment amount will be debited. Products will be delivered after that.
- Instalment payments will be made periodically until the total amount is paid within the given time.
Payment API
The Payment API function performs all actions related to payments. The payment function mainly authorizes the payment details and can further capture payments immediately. When we say capture, it denotes that payment is processed successfully.
Authorize
As the function's name implies, Authorize performs a basic payment authorization. The details entered in the payment form is run through an authorization process to ensure their validity and payment details are verified for further processing
End point URL
| Payment API |
https://payport.novalnet.de/v2/payment
|
| Authorize |
https://payport.novalnet.de/v2/authorize
|
How do you wish to Integrate Instalment payments?
Set up the integration of instalment payments in your webshop using any of the following integration methods based on your business model. Previously, you must have enabled the respective instalment payment methods in the Novalnet Admin Portal.
Transaction Result
// Waiting for transaction data...Loading...