Term payments are not for everyone, and they come with some considerable risk to the merchant, but if implemented correctly it can provide a meaningful increase in sales conversion, and larger potential customer pools. The Introduction to Accepting Credit Term Payments online training session provides you with the fundamentals of building out a terms payment program whether your will be offering term payments in-house or through a third party provider.

 

This course was last updated in August, 2019 to include recent payment provider volume data and an updated discussion on the third party providers that support credit term payments in the United States and Europe. Offered in HTML5 and compatible with all mobile devices.

Course Access: Unrestricted

 

Course Availability: Online, In-House and Webinar

 

Prerequisites: As an introductory level course there are no prerequisites or professional experience requirements to enroll.

 

The Fraud Practice's Online Portal and Training Courses:

• Available On Demand 24x7
• Fast, Reliable Online Presentation
• SCORM Compliant
• Includes Course Syllabus
• Includes Course Lessons & Quizzes
• Includes Final Exam
• Course Completion Certificate

While credit term payments have been in use for a long time, there are increasingly more and more companies looking to payment term options to entice consumers to make purchases now that they might have put off until they had the disposable income to do so. Term payments provide a means to access the under-banked consumer markets as well as more affluent demographic markets.

 

Key Concepts Covered:

• Term Payments vs. Layaway
• Term Payment Providers
• Credit Card Installment Payments
• Sales Conversion
• Offering Term Payments In-House
• Average Order Value (AOV)
• Fraud Risk
• Bad Debt Risk

After completing this course you should be able to answer and discuss the following questions:

1. How do credit term payments work and how do merchants offer them in the online channel?
2. How does term payment processing affect merchants in terms of risk exposure and cost of payment acceptance?
3. What are the common fraud tools needed for accepting credit term payments?

Expected time to complete training: 90 minutes (includes quizzes and exam)

 

Course Applicability:

• Payment Types: Credit Cards, Credit Terms Alternative Payment Providers
• Channels: Card Not Present / eCommerce
• Regions: Global - North America, South America, Europe, APAC, Africa
• Level of Difficulty: Beginner - No prior experience or knowledge required

Training Objectives:

1. Gain a basic underlying understanding on the role, function and responsibilities of all of the potential entities that can be involved with credit term payments.
2. Be able to define the stages of a credit terms payment purchase detailing the physical money flow.
3. Gain an understanding of the financial liability of bad debt and fraud as well as the impact it can have on a business’s bottom line.
4. Be able to describe the traditional manner in which merchants setup and use term payments and how accepting term payments effects their operations.
5. Be able to discuss the effectiveness of fraud tools with credit term payments.