When shoppers are already on the cart page, they see the subtotal price and evaluate whether it worths it. They are trying to assess whether this is the right choice. And if they see significant subtotal price (let's say $400), It may seem too expensive for them and they will leave the website without making a purchase.
But if they see that you can pay by installments every month, for example, and each individual payment is very small, it will not be so intimidating for their budget anymore. It will be just a small payment, like a few cups of coffee.
As a result, it will be much easier for them to rationalize such purchase. Which eventually can significantly increase your conversion rate.
The most suitable place on cart page for this element is near the subtotal price and Checkout button. Available payment by installments options:
Leesa promotes payments by installments on cart page right below Checkout button