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How Does Customer Financing With Square Installments Work?

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Emily Hale

Emily Hale

Emily is a writer, strategist, and freelance consultant based in Indianapolis. She is driven to create content that empowers her readers and her clients to make better choices in their business and their lives. When she's not in the thick of researching and developing blogs for Merchant Maverick, she likes to cook from scratch for her family or escape outdoors and meander through nature with her rescue pup.
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    Jeff

    Good information. Do you know what the interest rates are generally? What term lengths can the customer choose? Can the business owner set the term length? For example, I sell a one or two year membership, can I limit the term to 12 or 24 months max?

      Dakota Fillet

      Hi Jeff,

      Our understanding, based on a quick search on Square’s website, is that the customer applies and is offered an APR based on their creditworthiness, just like any other sort of line of credit, and then they are offered a choice to pay over 3, 6, or 12 months. The merchant does not have any say in the matter because it’s for the customers to choose.

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