What are payments in instalments?
Instalments allow clients to pay for their purchase in instalments during shopping with Bonus, World, Maximum, CardFinans, Paraf, Axess, and Advantage featured credit cards through a special agreement between the seller party and the bank. The number of such instalments and additional expenses to be incurred are entirely dependent on the agreement made between the seller party and the bank.
If you would like to offer payment in instalments on your online shop, you will need to contact and request online payment terminals from each and every bank separately. However, banks usually tend to decline such requests made by small and medium sized businesses.
When you work with iyzico, you can process transactions on your online shop from almost all banks in Turkey and offer your customers installment as an option.
With which credit cards can my customers make payments in instalments?
At iyzico, currently paying in instalments is available with Bonus, World, Maximum, CardFinans, Paraf, Axess, and Advantage. This means that you can take payments in instalments with all credit cards of that belong to seven banks.
Will I get paid in instalments when my customers pay in instalments?
When you work with iyzico, payout of your instalments sales is not carried out in instalments but in full to your account after the commission fee from the price you sold your product is deducted.
What is the commission rate to be applied for instalment payments?
For each successful transaction made through iyzico, the commission rate is 3.19% and the transaction fee is 0.25 Turkish Liras (Bank Insurance Treatment Tax-BITT- inclusive). For instalment payments, each bank has its own delay interest rates. For such payments, you can offer your clients better prices by covering delay interest charges yourself entirely or partly.
Can I offer instalments on the cash price?
Yes, you can. It is entirely up to you whether delay interest charges are reflected to your customers.
Through adjustments you can make on the "Instalment and Commission Management" page available at the iyzico Control Panel, you can offer better prices to your customers by covering the delay interest costs yourself entirely or in part.
I can’t see "Instalments Rate" on my iyzico Control Panel? Why?
The reason is that your business model isn’t eligible for payments in instalments. For detailed information, please reach out to us via "Contact Us" section of our website.
How can I calculate the commission rate that I will pay you if I decide to cover the cost of delay interest?
For each successful transaction made through iyzico, the commission rate is 3.19% and the transaction fee is 0.25 Turkish Liras (BITT inclusive). For payments in instalments, each bank has its own term difference rates. If you decide to take payments in instalments on the cash price by covering the cost of delay interest, you can calculate the deductions to be made through the "Instalments and Commission Management" menu on the iyzico control panel.
Can I change the instalment rates whenever I want or revert them?
Yes, such changes are always under your control. You can disable the changes you made through the "Instalment Rates" section on your iyzico control panel by using the same section.
When will I see the changes I make on the "Instalment Rates" section?
Any changes you make on the "Instalment Rates" section will be reflected to the checkout form on your online shop instantly. That's why it is very important that you calculate any change in detail when using the relevant section.
We are glad to help you with all of your questions and issues.
You can search for answers and solutions at our help center, or choose from the categories below to see sample questions and answers.
- Application Requirements
- Required Documents
- Filling out an Application
- Status of Application