According to New Knowledge Encyclopedia, installment payment refers to one month, usually 30 days. Installment payment is mostly used for some high-value product transactions. Common staging methods include credit card staging, loan staging and mortgage staging. The first stage is the billing cycle: one month. If it is divided into twelve installments, that is, twelve months, the repayment will be made once a month. It is understood that the first stage is generally 30 days.

Installment payment is a transaction payment method commonly used by modern people. Many times, we want to buy a product or enjoy a service, but we are short of funds temporarily, so we can use installment payment to transfer the payment pressure to a later period of time.