How to turn on Stretch Pay in a project
How to turn on installments?
You can set up installments for your project in Project -> Stretch Pay. Stretch Pay can be enabled anytime during the campaign, allowing backers to switch from regular payments to installments. It's also possible to turn on installments in the pledge manager and late pledge stage.
To enable or disable Stretch Pay, go to Project -> Stretch Pay and change the toggle position:
Note: You can disable Stretch Pay at any time, but it will not affect the past pledges with installments. They will be paid off with their payment plan.
Stretch Pay setup
Number of installments - here, you define how many installment payments will be available to a backer (minimum 2, maximum 10). You can change this number anytime but the change will not affect past pledges.
Minimal payment amount - here, you define the minimal payment amount to enable Stretch Pay for a backer. This includes extra payments such as taxes and shipping. You can change this amount anytime, but the change will not affect past pledges.
Stretch Pay payoff deadline - this is when our system will try to charge the backer for the last installment. If you want installments enabled in the pledge manager after crowdfunding the late pledge, remember to set a proper payoff deadline. If it's too short, backers will not be able to use Stretch Pay. You can change the date anytime, but the change will not affect past pledges. The date should be set in the pledge manager and late pledge. You don't have to set it in crowdfunding.
Note: Every time you visit this setup page, we'll show you the current installment status. You'll see a message "The current setup allows backers to pay for new pledges in X separate installment payments." where X is the actual number for the moment the message is displayed.
Remember that each installment is charged monthly. So if you set up 10 installments and give a 3-month deadline, it won't be possible to turn on 10 installments. The system will automatically change the number to 3 according to the deadline.
Installment refund and cancellation policy
As a creator, you should include installments in your refunds and cancellation policy on your project page, as the refunds may have different rules than regular ones. If a backer contacts you with a request for a refund, you have to handle the cancellation and refund according to your policy.
Note: Installments on Gamefound are charged 20 cents per transaction which have always been applied to every payment (every installment is treated as a separate transaction).