What Is Pay Over Time?
Pay Over Time is an installment plan that allows backers to split higher-priced perk payments into four equal monthly payments. All standard payment methods can be used for this option.
When enabled, backers will see the Pay Over Time option on both the campaign page and the checkout page.
How it works
- When an eligible backer reaches checkout, they’ll see the option to Pay in Full or Pay Over Time.
- If Pay Over Time is selected:
- The first payment (¼ of the total, rounded to the nearest whole number and including shipping and tip) is charged at checkout.
- The remaining three payments are automatically charged on the same calendar day each subsequent month.
- All payments are processed using the same payment method as the initial charge. If a payment attempt is unsuccessful, we will send a notification to the backer asking them to update their payment method. The full contribution will be refunded if a payment attempt fails thrice.
Eligibility Criteria
To enable Pay Over Time funding on your campaign, the following conditions must be met:
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Your campaign must either have already met its fixed funding goal or have selected a flexible funding model.
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You must offer at least one perk priced at $400 USD or more.
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You should also be familiar with the restrictions of using this feature.
Note: Pay Over Time is currently in beta so the interface and restrictions may change. It is also only available on a limited number of campaigns.
Contribution Status and Perk Fulfillment
You can find the list of Pay Over Time contributions in your Campaign Dashboard under the "Perks Claimed and Donations,” specifically in the "Pay Over Time" tab. Click on the Contribution ID to view the contributor's installment details.
Contributions made using Pay Over Time will be marked as “Pending” until all installment payments are successfully completed. Once the full amount has been paid, the contribution status will update to “Complete,” and the order will appear in the "Placed" tab of your Campaign Dashboard.
If a contribution is refunded, the associated items are returned to inventory.
Important note: Campaigners should only fulfill and ship perks for orders that are marked as Complete.
Disbursement
Funds from a Pay Over Time contribution are deposited into your bank account once all installments have been completed.
- Campaigners will receive funds for completed orders on their regular disbursement schedule for crowdfunding or InDemand.
- For closed campaigns, the funds are disbursed weekly as they become available.
Fees
Regardless of the payment method your backers use to support your campaign, all applicable platform and payment processing fees will be deducted from each disbursement we send to you. These may include:
- Indiegogo platform fee
- Third-party or transaction fees – Our payment processor, Stripe, charges a fee for each transaction. While there are no extra fees for using Pay Over Time, it's worth noting that this option applies the standard fee (e.g., “3% + $0.20”) to each of the four installment payments.
- Transfer or bank delivery fees
If you're interested in adding Pay Over Time to your campaign, just reach out to our support team through www.indiegogo.com/contact.