Ride1Up is offering a new way to Ride Now & Pay Later at checkout!
We are working with a company called SplitIt, to offer this service,. Customers will now have the option to split their order total over a number of installments. For the time being, we are only offering the option to checkout over THREE (3) installments.
Customers use an existing credit card with enough available balance to cover the total order amount. The benefit being that only one-third of the order amount will be billed when checking out, then one-third thirty days later and the final one-third sixty days later. There are no applications, no redirects, no credit checks, and no different platforms. It is as seamless as checking out with a credit card directly on our site. Customers can take advantage of an existing line of credit and even earn rewards on their purchase (if applicable to their credit card).
Not available on a debit or pre-paid cards.
How does it work?
- We collect the first installment upon checkout and an authorization is requested for the remaining balance. The authorization is not a charge, it is only ensuring that the card has enough balance to cover the entire cost. The authorization falls off after 3-5 days. The following month the next installment is collected, and a new authorization is requested (to the balance of remaining installments), and so on until the order is paid in full.
- Customers will only have to make a payment on the installment not the authorization allowing them to make a smaller payment and not incur any interest when paid on time.
- Authorizations do not impact credit score as they are not charges and do not increase credit line usage. Authorizations fall off within 3-5 days.
- When checking out this way, customers will receive a login from SplitIt to review their installments.
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