The installment payment can be terminated in advance, but there may be a handling fee. Take CCB's credit card as an example (except CCB's beneficial loan card). If there is a handling fee for this installment, the fees collected will not be refunded, and the fees that have not been collected will be collected at the same time (for example, 2 yuan has paid the handling fee for each installment in 12 installments for 5 installments, so 1 yuan collected in the first 5 installments will not be refunded.

Pay by Installments is mostly used in some product transactions with long production cycle and high cost. Such as the export of complete sets of equipment, large vehicles, heavy machinery and equipment.

the buyer and the seller sign a contract at the time of transaction, and the buyer pays the goods and services to the seller in installments within a certain period of time. The date and amount of each payment are stated in the contract in advance.

vipshop's installment payment is realized through "only product flower", which is a credit product of "first consumption, then repayment" launched by vipshop, and specially invited Pacific Property Insurance to contract to ensure the safety of funds. Its function is similar to that of Huabai and JD.COM Baitiao, and it supports users to buy goods on credit. Users who successfully open the only product flower can use the credit line given to shop at Vipshop, and after successful payment, they can repay before the corresponding repayment date.

On the 1st to 25th of each month, users of Pinhua can see the installment entrance of Pinhua, and then apply for installment of the non-installment principal in the bill arrears of last month. At present, there are 3, 6, 9, 12, and 18 stages of Wei Pin Hua, and the handling fee for each stage is only .8%. The consumer pays zero down payment in the current month and repays from next month. For users who meet the qualification of installment, the available amount of only products will gradually recover with the repayment of each installment.

vipshop adopts online sales mode, and directly sells the products of manufacturers through its own online platform. At the same time, due to the long-term cooperation and trust relationship between vipshop and brands and manufacturers, there are many cooperation modes between them, such as cross-quarter commodity purchase, unplanned inventory purchase, mass purchase, exclusive supply, etc., which can realize price concessions.

Reference: Baidu Encyclopedia-installment Baidu Encyclopedia-Vipshop