What is payment on credit in SAP IS-SE-CCO - Customer Checkout?

SAP Term: payment on credit

• Component: IS-SE-CCO

• Component Name: Customer Checkout

• Description: A transaction in which the amount due for the purchase of articles is not paid immediately but will be settled later.

Smart SAP Assistant

• Key Concepts: 
  Payment on credit is a payment method available in the SAP IS-SE-CCO Customer Checkout component. It allows customers to purchase goods or services without having to pay upfront. Instead, the customer pays for the goods or services at a later date, usually within a specified period of time. 
  
  How to use it: 
  To use payment on credit, customers must first be approved by the merchant. This approval process typically involves verifying the customer’s identity and creditworthiness. Once approved, customers can select payment on credit as their payment method when checking out. The merchant will then charge the customer’s account at a later date. 
  
  Tips & Tricks: 
  When using payment on credit, it is important to keep track of when payments are due and to make sure that payments are made on time. Late payments can result in additional fees or penalties. Additionally, merchants should be aware of any applicable laws or regulations regarding payment on credit in their jurisdiction. 
  
  Related Information: 
  Payment on credit is similar to other payment methods such as layaway and installment plans. It is also related to other components in SAP IS-SE such as IS-SE-CPA Credit Payment Authorization and IS-SE-CPC Credit Payment Collection.