As a Merchant you must be very familiar with our Platform Agreement (review the correct one for your country of operation) https://www.splitit.com/legals/platform-agreement/ to understand how our plans work.
For "secured" transactions we place an authorization hold on the customer's credit card and this allows us to charge their card throughout the life of the plan.
For "non-secured" transactions Splitit shall use commercially reasonable efforts on behalf of the Merchant to attempt to collect payment through the Splitit Platform. Should payment not be able to be collected, the Merchant shall be solely liable for the Uncollectable amount.