What invoices are eligible for a payment plan?
Faire’s payment plans are only available for invoices that are overdue at the time of enrollment; they cannot be set up in advance. Orders that have not yet shipped or are not overdue will be excluded from the payment plan.
How do I enroll in a payment plan?
Once an invoice is overdue, if you are eligible for a payment plan, the option to enroll will appear on your Invoices page. This capability is not available on our mobile app at this time.
- Go to Invoices.
- Select Make weekly payments.
- Choose the length of payment plan you would prefer (note that associated fees are lower for shorter payment plans).
- You will be asked to confirm the payment method for your plan.
Please note, in order to enroll, you must have a default payment method on file. Without a default payment method, you will not be able to enroll in a payment plan.
Once enrolled, your weekly installments will always charge your default payment method on file with us.
There may be fees and interest charges associated with manually enrolling in a payment plan. Any applicable fees will be clearly disclosed alongside the payment plan length before you complete enrollment and included in your weekly installment amount.
What happens after I enroll in a payment plan?
When you enroll in a payment plan:
- All overdue invoices will be enrolled and divided into equal weekly installments based on the option you select (with any associated fees also divided into equal weekly installments).
- The day of the week you enroll will become the day each installment is automatically deducted.
All of Faire’s payment plans are auto-debited weekly. We're unable to accommodate plans with different schedules (ex: bi-weekly or monthly).
How do payments work in a payment plan?
After you sign up for a payment plan, our system will automatically withdraw the weekly scheduled payment from your default payment method, removing the need for any manual actions on your part. You are welcome to make additional payments or pay your plan in full at any time within your payment plan page.
Pre-payments can be made in increments of the scheduled weekly amount and any pre-payments made on your plan will be applied to the total payment plan balance. While these pre-payments won't change your scheduled weekly payment, they will decrease the total number of weeks you need to make payments.
Ex: You've enrolled 5 invoices in a 12-week payment plan, totaling $1,200, with payments due every Monday.
- Your weekly installment is $100 and will automatically be debited every Monday for the length of the plan.
- If you make an extra payment of $200 (covering 2 installments) on a Friday, your next Monday's installment will still be $100. However, your payment plan will now be shortened to 10 weeks instead of 12.
How do Missing or Damaged reports affect my payment plan?
When you make a return or report an item as damaged/missing and the invoice is on a payment plan, the total amount you owe in your payment plan will be automatically adjusted by the value of the reported items. Here's how it works:
- If we have over-collected on your plan (i.e., you've paid more than the adjusted total), we will issue a refund for the excess amount.
- If the amount collected so far doesn’t cover the new reduced balance, your future weekly payments will be decreased accordingly.
Can I manually make payments towards my payment plan?
Yes, while your scheduled weekly payments will continue as planned, you have the option to make additional payments, or pay your remaining balance in full.
- Go to your Invoices, and select the Payment plan page
- Select Make a manual payment.
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You’ll have two manual payment options:
- Choose Pay in full to pay off the full remaining balance
- Choose Make a partial payment to make an additional payment to your scheduled payments.
- Select Confirm to process the selected option.
Manual payments will not stop your automated weekly withdrawal. Any additional payments will reduce the total balance and may shorten the length of your plan, but your scheduled weekly payments will remain unchanged unless the full balance is paid off.
Why don’t I see the option to enroll into a payment plan?
If your invoice is not overdue, you won’t see the option to start a payment plan. Faire allows three active payment plans at a time. Once this maximum is reached, the option to enroll in a plan will no longer be available. If you have reached the 3 payment plan maximum, and have a failed invoice, your checkout will be unavailable until the failed invoice is resolved. If you prefer to enroll the failed invoice into a payment plan, one of the active plans will need to be paid in full before you’re able to enroll a new invoice. The option to enroll into a payment plan is not available through the mobile app.
What happens if a payment plan payment fails?
If a payment in your payment plan fails, we’ll notify you via your portal and through a notification email. Our system will automatically retry the failed payment until a successful payment is made. You can manually make a payment at any time from your Invoices tab to get your payment plan caught up. Know that even if a payment fails, your scheduled payments will still take place as planned which can cause multiple payments in the same week. If you need to adjust your next scheduled payment, please let us know and we’ll connect you with a support specialist to assist.
Terms and conditions apply. For more details, review the Faire Retailer Terms of Service and general Terms of Service.