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Another magento extension to consider that allows for installment payments is by PayItSimple. Installation is easy and it’s easy to register for an API key after you install it. A key difference with this extension is how the installment payments are processed. It uses a patented technology that helps minimize risk for merchants while allowing the customer to make those payments without incurring extra interest charges and without a credit check. There’s even a program available where PayItSimple will manage the installments while the merchant gets the funds up front, without the wait. Here’s the extension: http://www.magentocommerce.com/magento-connect/payitsimple-interest-free-installment-payment-extension.html