Months without Interest (MSI) is a method of financing that allows consumers to divide the cost of a purchase into equal monthly installments without paying additional interest. This method is especially popular in Latin America and is used to promote access to expensive products and services in an affordable way. Companies in a variety of sectors, such as retail, e-commerce and medical services, often offer this option to attract customers who prefer to pay in installments.
Instead of charging interest on payments, the merchant absorbs the costs, which encourages consumers to opt for higher-value purchases. The MSI period can vary from 3 to 24 months, depending on the policy of the store or credit card issuing bank.
How does payment in months without interest work?
The operation is simple: the buyer selects the MSI option at the time of purchase, and the total amount is divided into monthly payments without interest. This process is similar to credit at no additional cost, but with the condition that payments are made on time. If the consumer fails to make a payment on time, late fees or conversion of the remaining balance to interest-bearing credit may apply.
Benefits of offering MSI in your business
Incorporating MSI as a payment option can offer great advantages for your company:
- Increases average ticket: By allowing installment payments, customers feel more comfortable purchasing higher-value products, which increases sales volume.
- Improved customer satisfaction: Consumers value the flexibility of being able to finance purchases without the additional cost of interest.
- Encourage loyalty: By offering convenient payment solutions, such as MSI, customers are more likely to return to your store.
In addition, platforms like Rebill allow you to efficiently integrate MSI into your business, offering payments in more than 10 countries in Latin America and supporting more than 100 local payment methods. This simplifies the management of cross-border payments and allows you to offer a seamless and secure experience to your users.
Implementation of interest-free months with Rebill
Rebill is a leading payment and subscription management solution in Latin America. Through its platform, companies can easily offer installment and MSI payments in both physical stores and e-commerce. Rebill facilitates integration with various local payment methods, allowing companies to manage collections in local currency and receive funds in the currency of their home country without the need to establish a legal entity in each country where they operate.
Key advantages of using Rebill for MSI:
- Automated management of recurring payments: Rebill enables the automation of payments and collections, minimizing administrative errors and reducing the operational burden.
- Wide range of payment methods: With support for cards, bank transfers and e-wallets, Rebill ensures that you can offer MSI with the preferred methods in each country.
- Security and compliance: The platform meets the highest security standards, including PCI DSS certification, ensuring secure transactions for your customers.
How to get started with interest-free months in your store
Offering MSI in your business can be a key differentiator in highly competitive markets. With solutions like Rebill, you can integrate this option into your e-commerce platform or physical points of sale seamlessly. And because it's backed by a secure and flexible infrastructure, you can manage all your transactions from one place, reducing friction in your checkout processes and improving the customer experience.
Contact Rebill today and find out how offering Interest Free Months can boost your business growth in Latin America.
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