Online Payment Collection Options for Installment Businesses in Pakistan

The general Urdu term for “installment” — a fixed periodic payment made toward the total price of a purchase. The word behind “qist software” and most of the industry’s everyday vocabulary.

An alternate spelling and plural form of qist — “kishton mein” means “in installments.” Used interchangeably with qist in everyday conversation and in some regional dialects.

The formal Urdu plural of qist, meaning “installments” — more common in written or legal contexts (contracts, formal notices) than in spoken shop-floor conversation.

Equated Monthly Installment — functionally the same as qist, but the term is more associated with formal bank loans and financing than retail shop sales.

The upfront portion paid at the time of sale before the installment plan begins — typically 20–30% of the total price in Pakistani retail qist sales. Businesses may also review online payment collection options when deciding how customers can pay future installments.

A late fee or penalty charged when an installment isn’t paid by its due date — usually calculated as a percentage of the overdue amount per week or per day late. See our full jurmana calculation guide.

General credit or “on account” — money owed for goods received without immediate full payment. Broader than qist; udhaar doesn’t imply a fixed schedule the way an installment plan does.

A running account or ledger tracking what a customer owes — the basis of “khata apps” used for general credit tracking, distinct from structured installment schedules.

The remaining amount a customer still owes on their installment plan at any given point — total price minus down payment and all payments made so far.

Also called zamin — a second person who agrees to take financial responsibility for a buyer’s installment plan if the buyer defaults. See our guarantor management system.

The guarantee or surety a guarantor provides — the formal obligation itself, distinct from the guarantor (zamin) who is the person providing it.

A customer who has stopped paying their installments, typically after missing several consecutive payments — the point at which a plan is formally considered in default.

Field staff responsible for following up on overdue accounts — phone calls, visits, and coordinating with guarantors on unresolved cases.

Computerized National Identity Card — Pakistan’s national ID, and the standard identity document collected from every buyer and guarantor before an installment sale.

Legal paper used for formal agreements in Pakistan, giving a signed contract stronger standing if a dispute ever needs to go to court — typically used for higher-value installment sales.

The signed contract covering price, schedule, jurmana rate, and guarantor obligations for an installment sale. See our agreement format guide and free template.

A cost-plus sale structure used in Islamic finance — the seller discloses cost and markup, and sells at a fixed total price rather than charging interest over time.

Interest — prohibited in Islamic finance. Murabaha-style structuring is commonly used to avoid riba in installment sales. See our halal installment business guide.

National Tax Number, issued by the FBR — required for formal business registration and a standard part of installment business licensing in Pakistan.

A report showing overdue balances grouped into buckets — current, 1–30 days late, 31–60 days, 60+ — used to assess portfolio risk at a glance. It can also help businesses compare how online payment collection options affect payment follow-up and outstanding balances.

The ability to run and monitor several shop locations from one system, with consolidated head-office reporting. See our multi-branch system.

Field-based payment collection where a recovery officer visits the customer’s home or business directly, common for higher-touch or higher-risk accounts. It can be used alongside online payment collection options when customers prefer digital payments.

The full breakdown of an installment plan — amount, due date, and sequence for every payment from down payment to final installment. A clear schedule makes it easier to connect online payment collection options with each customer’s expected payment dates.

The total set of active installment plans a business is currently managing — used when discussing overall risk, collection rate, or business health.

A system feature that limits what each staff member can view or edit based on their role — e.g. a cashier can’t alter guarantor records the way a manager can.