The Dutch payment system iDEAL also supports payment in installments from Thursday. With iDEAL in3, users can split the payment for their purchases into three installments. IDEAL and the Eindhoven company in3 previously released a pilot for this function.
With iDEAL in3, users can divide their payments over three installments. The first part of the payment is made immediately upon purchase. The remaining two installments take place thirty and sixty days later, respectively. The consumer will not be charged any costs for this and the user will not owe any interest, iDEAL writes in a press release. Users can select iDEAL in3 as an option during a payment. In3 then 'tests the creditworthiness' of the customer. According to the company, this happens in a fraction of a second. Upon approval, the first installment will be paid and users will receive the payment details for the second and third installments by email.
The system for spread payments with iDEAL has already been tested previously. The payment system started a pilot for this last year. According to iDEAL, 3968 payments were made during that period. The feature will become generally available from Thursday, April 4.