The financing (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 firstname.lastname@example.org, who will request an individual quote from the bank for you.
Terms and conditions
The financing (loan) is suitable for amounts between 300 Euro and 40.000 Euro (may be adjusted individually for each merchant by 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 financing (loan) option is only available to customers living in Finland that are at least 21 years old.
Please note that the installment option can only be offered to private consumers (not suitable for B2B/ business customers).
After the payment has been completed, the customer is forwarded to Santander, where information about the financial situation (income, living costs, etc.) must be provided. The application form is dynamic and will look slightly different depending on whether the customer already has an account with Santander, whether he is an employee or a student, etc. Once the customer has completed and submit this form, an algorithm will make an initial decision based on the provided data and automated queries to credit agencies.
If this turns out negative, the customer is asked to choose another payment method. If the application is approved, the customer must sign a a loan contract (digitally/ paperless using BankID).
Before the contract has been signed, a transaction will have the status "in progress" in your shop (in your shop backend, this status may be named differently, for example "open", "payment pending" or "waiting for payment", depending on the shop system). Once the signature has been completed, the status in payever will automatically update to "Accepted" (your shop will also be notified about the status change, and the status there could then be "Paid", "Fully paid" or simply "OK" for example, depending on the shop system you are using).
Please don't ever ship any goods to the customer before said status change has taken place! Always wait until you have received the respective approval status before you send any items on their way to the customer, as Santander will not pay you for these items as long as the customer has not signed the contract (given that the bank can also not draw the rates from the customer's account if they have not received a valid signature from this customer).
When the status has updated and you want to ship the foods, please report the shipment to payever. You can do this directly in the payever account (transaction details -> click button "shipping goods") or via the shop system (slightly different depending on the shop system, but if you are using one of our plugins, it will automatically notify payever as soon as you have marked the items as shipped in your shop backend or assigned a status that implies the order has been shipped, such as "shipped", "completed" or "delivered"). Once you have notified us about the shipment, the transaction gets activated, meaning the merchant receives the full payout and the customer's payment plan starts.
Settings in the payever account
To activate Installments Finland in your payever account, please go to the Checkout App.
You can find the payment methods tab in the navigation bar on the left.
Click on + Add.
Now select Installments Finland from the list that appears now and click on install.
Once the installation has been completed, please click Open.
Next please enter your dealer number, username, email, first name, last name and phone number to set up the payment method. You will have received these details from Santander. Lastly, click on connect.
Activating Installments Finland in your payever account
You can activate or deactivate the payment method in your payever account at any time. If you deactivate the payment method by clicking the toggle switch, it will automatically disappear from your shop without you having to configure this in your shop backend (of course, this also works the other way around - when activating a payment method). Just go to Checkout > Payment options and switch on Santander Installments FI.