Installment plans with automatic collections

Digital self-service to request an installment plan

Lower the threshold for requesting an installment plan via a digital self-service tool 💻. In an online wizard, the customer chooses the number of installments and the payment dates (within certain boundaries).

Managing the payment schedule

As a creditor, it is also possible to manage the payment agenda 📅 of an installment plan yourself.

Via a simple API call, instructions can be given to collect an amount (provided the customer agrees to automatic collections). Payment status is fed back in real-time.

Automatic collections via Bancontact

By paying for the first installment via Bancontact, the customer agrees to pay the following installments automatically from the used bank card.

So there is only 1 payment action 👌 required to automatically set the payment of the other installments of the installment plan.

Automatic reminders via email or sms

The customer is kept informed of the progress of the installment plan via e-mail or SMS. A reminder 🔔 is sent automatically a few days before the scheduled payment of each instalment.

If the automatic collection fails, a notification follows that a second collection attempt will be made a few days later.

Benefits at a glance

• Easy digital application process
• Significantly higher collection rate (due to automatic collections)
• Save time for employees: automated process
• No red tape, only 1 payment action required