News and Landesbank Berlin enable instalment payments for individual purchases

Monday 18 October 2021 10:46 CET | News

Amazon and its partner Landesbank Berlin (LBB) have announced enabling customers to pay off purchases made with their credit card in instalments.

LBB is Amazon’s partner for Visa and is allowing users to pay off individual purchases from EUR 100 in instalments. Eligible purchases are marked with a special symbol in users’ sales view in credit card banking. Customers can then choose an instalment of 3, 6, 9 or 12 months. The annual percentage rate (APR) can vary and will be displayed to you before the instalment purchase is completed. The interest calculation is based on the German interest calculation method (30/360). Other settings for full or partial payments remain unaffected by the instalment purchase for individual purchases.

Users can get an up-to-date overview of active instalment purchases in credit card banking and on monthly card statements. Furthermore, there is the option of making an early repayment at any time. However, customers will not receive any Amazon points for purchases that are converted into an instalment purchase. It is only possible to activate the instalment payment for sales that have not yet been billed. In addition, the credit limit granted may not be exceeded by the card sales to be divided into instalments.

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Keywords: partnership, Visa, credit card, instalment payments
Categories: Payments & Commerce | Online Payments
Countries: Germany
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Payments & Commerce

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