Customer Credit is an app that allows customers to offer credit to their trusted resellers. This amount can be used as a payment method, in the same way as a credit card or “boleto bancário” (popular Brazilian off-line payment method), for example.

Now, VTEX customers have the option to configure simple interest on Customer Credit’s installments. That is, if resellers choose to pay their credit in installments, interest may be applied to each installment of the payment.

The configuring process of Customer Credit as a payment method remains the same. The only difference is that, in addition to defining the term and installment rules, VTEX customers must define an interest rate that will be applied to the installments.

In addition, VTEX customers can define up to three installment methods for a given credit.

This functionality ensures greater flexibility when defining which payment methods are most advantageous for your business.

Currently, this functionality does not support the application of simple interest on payments made in only one installment.

To define interest rates on Customer Credit, follow the standard flow to configure a payment condition.

The first step is to make sure that Customer Credit is configured as a Gateway affiliation in your store. If this is not the case, you must create a new affiliation.

Then you’ll define which rules apply to that payment method:

• Establish the maximum number of installments in which an order can be paid;
• Set the term for each of the installments;
• Indicate the interest rate that will be applied to all installments.

Finish the process by saving the settings. In this way, interest will be displayed on SmartCheckout's Customer Credit.

For more details on Customer Credit, check out our introductory track on this app.