Shopify is rolling out its new payment instalment service for Canadian merchants in early access as the e-commerce giant kicks off its global expansion plans.

Shop Pay Installments offers customers the option to pay for their order in installments at checkout, both online and in store.

Developed in partnership with global payment network Affirm, the new service enables customers to choose from customised biweekly and monthly payment plans, with rates as low as zero per cent APR, and no late or hidden fees.

Shopify merchants in Canada with early access are able to offer Shop Pay Instalments to shoppers, marking the first launch of the product outside the US where it has been available since 2021.

The e-commerce platform provider said the plan will become available in general access to Shopify merchants in Canada and the UK from this summer, with the service enabling cross-border commerce capabilities between the US, Canada, and UK.

Additionally, Shopify is planning to further expand to Australia and Western Europe with a focus on France, Germany and the Netherlands.

The service enables merchants to activate the product directly from their Shopify admin dashboard, with no additional development or technical integration required.

Customers eligible to use the service can choose to split their purchases ranging from $35 to $30,000 into biweekly and monthly payments.

"We're thrilled to launch Shop Pay Installments in early access to Canada as our first step beyond the US," said Kaz Nejatian, chief operations officer of Shopify. "Our partnership with Affirm expands our global reach, giving shoppers the flexibility to pay over time, and drives higher conversion rates for merchants worldwide."

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