The installment loan is offered in cooperation with our partner Santander Consumer Bank. Your customer has the option of paying in monthly installments, whereas you will receive the full amount from Santander shortly after the goods have been shipped. Please note that in addition to a payever account (create for free) you also need a contract with Santander for this payment method. To complete this please contact email@example.com, where you can have a personalized offer put together.
Terms and conditions
The installment loan is suitable for amounts from at least 1.990 NOK up to 80,000 NOK (maximum amount may be determined individually for merchants with Santander). When using one of our plugins, these limits are usually set automatically, so that the payment method is not displayed if the amount is outside this range.
This installment loan option is only available to customers based in Norway .
Please note that the installment option can only be offered to private consumers (not suitable for corporate customers).
Please also note that for this payment method the billing address must be the same as the shipping address (for fraud prevention). When using one of our plugins, this is automatically set so that the payment method is not displayed if a different address has been entered.
After the payment has been completed, the customer is forwarded to payever, where he first provides some information about his financial situation (income, living costs, etc.). This flow is dynamic and will alter based on if the customer already has an account with Santander, how much credit the customer is allowed, etc. If the customer sends this form in full, a Santander algorithm makes a first decision based on the data entered and automated queries at credit agencies. Scoring decides if a loan application is approved or not.
If this turns out negative, the customer is asked to choose another payment method. If the application is approved the customer must sign some documents to agree to the loan (using BankID). When the documents are signed the merchant will be notified through predefined endpoints.
Before the identification is completed, a transaction in payever has the status "in progress" (in your shop this can also mean "open", "payment check" or "waiting for payment", depending on the shop system). Once the identification is complete, the status in payever automatically changes to "Accepted" (in your shop system, for example, "Paid", "Fully paid" or simply "OK"). You will also receive a corresponding notification by email. Please only send the goods after the status change. When Santander has been notified about this the customer's account will be debited and the vendor will eventually get the money from Santander.
When the goods are shipped, the transaction is activated, i.e. your customer receives his installment payment plan and you receive the corresponding amount. You must therefore report the shipment to us or the Santander. You can do this directly in the payever account (transaction details -> "Goods shipped") or via the shop system (different depending on the shop system, in Shopware 5, for example, automatically when the status changes to "Completely delivered"). Please note that some of the Santander also requires proof of delivery in the form of tracking numbers or the like (please contact your Santander contact person in this regard).
Settings in the payever account
To activate the installment loan in your payever account, please go to Payment Methods. > +Add in the Checkout app and select Santander installments Norway from the list. Enter the Vendor ID and password you received from your Santander consultant under "Standard". After linking the payment method, you can make the following setting:
- I want to receive email notifications about changes in the application status of my customers. If activated, you will receive an email notification whenever the status of the transaction changes (e.g. from "in progress" to "accepted").
1. Log in to your payever account
2. Open the Checkout app
3. Open the payment options tab
4. Click on add
5. Search for Santander Installments Norway (Buy now / pay later)
6. Click on Install
7. Click on Authentication
8. Input your 'Vendor ID'
9. Make sure the switcher for the payment is green
10. That's it!