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Glossary: Payment plans

Payment plans are a flexible financing option that allows customers to make purchases today and pay for them over an extended period of time, typically with fixed monthly payments.

A payment plan is a financial arrangement where the customer pays back a debt over a period of time rather than paying the total amount upfront. Payment plans can be used for various purposes, including paying off loans and credit card balances. For instance, instalments for BNPL finance are a form of payment plan.

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