A couple of posts ago we mentioned Breitling’s new trade-in program for their U.S. market. Today we bring to you another bit of news in the brand-to-customer direct sale world from NOMOS Glashütte – an interest-free installment payment method in partnership with Splitit.
This new method will allow a purchaser to split the total payment over a maximum of twelve months using a credit card. The size and number of installments can be adjusted. There are no additional charges for choosing this payment option, nor does not involve any application process or credit checks. All that is required is a credit card with a sufficient amount of available credit.
Splitit authorises the total order value. At the time of shipping, only the first installment will be charged to the credit card, with the remaining balance held on the credit card until the final payment has been made. A payment authorisation for the outstanding amount will be held during the full payment period. After each monthly payment, the amount held from the available balance will be reduced to the new remaining balance (the held amount might appear as ‘pending’ on the credit card bill).
The purchaser must maintain a sufficient amount on their credit card for both the monthly payment and for the full outstanding amount of the purchase during the full period of the plan. The authorised amount will be charged only in the event that a monthly payment is declined.
If the watch has a longer delivery time, NOMOS will start charging the monthly payments from the date of shipping.
Upon receipt of the watch, if the buyer changes their mind and returns it, NOMOS will reimburse the installments that have already been paid and cancel the outstanding payments.
Available for customers in the locations to which NOMOS ship, Splitit can be used with Mastercard or Visa. Debit cards, American Express, and pre-paid cards are not accepted.
To read the full details including the terms and conditions of using Splitit, go to their website here.