Payment plans offer payers the flexibility to repay the payment amount in accordance with the terms of a payment plan. The terms can include one or more of the following:
A payment plan can include any combination of these terms. For example, $1,200 purchase paid in 12 installments with interest; $5,000 purchase interest free for 12 months with a deferral period of 3 months, etc.
The MasterCard Payment Gateway supports the following types of payment plans: