In the Pay Mode section, you can now choose how to pay:
- Pay Now
- Installment Plans: split any purchase into up to 6 fixed-rate installments powered by Exactly Protocol.
If you choose Pay Now, the total amount is instantly debited from your USDC balance.
If you split your payment into up to 6 fixed-rate monthly installments, you can choose the number of installments before each payment. This setting will remain active until you decide to change it.
When splitting a payment, the Exa App borrows the amount needed from Exactly Protocol’s fixed-rate lending markets, converts it to USD, and sends it directly to the merchant.
The interest rate is fixed and determined at the time of the transaction.
The debt payment usually begins up to four weeks after the purchase and will cover the total loan amount plus the associated interest if the purchase was made in one installment. If the users select more installments, they will repay a fraction of the total amount and interest, and every installment will have the same value.
The interest rates are fixed, and users can view them before making a purchase by accessing the app and using the simulator available on the card screen.