Learn more about Affirm here along with some commonly asked questions.
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How am I paid when a client uses Affirm?
Will Affirm appear as a listed payment option during checkout?
Will applying for Affirm affect my client’s credit?
What is the maximum amount clients can finance with Affirm?
What are the payment options available to clients?
Are there any fees for my client?
My client was pre qualified; what does purchasing power mean?
What fees am I charged?
Every transaction made using Affirm incurs a merchant fee, which is offered at a discounted rate of 5.25% plus $0.30 per transaction, a savings compared to the standard rate of 6% plus transaction fees.
How am I paid when a client uses Affirm?
You will receive full payment from stripe in 24-48 hours. This does not affects client’s installment plan with Affirm.
Will Affirm appear as a listed payment option during checkout?
Yes, Affirm will appear as a supported payment option during checkout. Here's a short Loom video on the checkout process.
Will applying for Affirm affect my client’s credit?
Creating an Affirm account and seeing if they prequalify will not affect their credit score. If they decide to buy with Affirm, these things may affect their credit score:
- Making a purchase with Affirm,
- Their payment history with Affirm,
- How much credit they've used,
- How long they’ve had credit.
What is the maximum amount clients can finance with Affirm?
The maximum pre-qualification amount $10,000.
✏️ Note - Even if your client is pre-qualified for a larger amount $10,000 is the maximum they’ll be able to used to finance a purchase.
My client is interested in finding out if they are pre-qualified before they proceed with the treatment. What steps should they take to determine this?
There are two options clients can use to find out if they pre-qualify and verify the pre-qualification amount.
- Have the client navigate to the Affirm website or download the affirm app on their phone and create an account > proceed through the application process.
- Please inform the client know that even if they are pre-qualified for a higher amount, the maximum they can use to finance a purchase is $10,000.
- Applying will not affect their credit score.
- Create appointment for how much you think treatment will be > proceed to checkout > select Affirm as the payment option > hand tablet to client so they can proceed with the pre-approval process.
What are the payment options available to clients?
Clients are given 3 payment options at checkout:
- Pay in four: Pay every 2 weeks in 4 installments, and there is no interest. Regardless of credit worthiness, if the client is approved by Affirm during the checkout process, they will have access to this interest free pay in four option.
- Pay back in 6 months and pay back in 12 months. The interest rates for each of those options will vary based on the client's credit worthiness and size of the invoice (determined during the 20-second pre-qualification process Affirm does during checkout)
Are there any fees for my client?
Fees - Affirm doesn’t charge your clients any fees. That means no late fees, no prepayment fees, no annual fees, and no fees to open or close their account.
Interest - Depending on the size of their purchase, their payment plan may include interest. they’ll never owe more interest than they agree to on day one—so they’ll always know exactly what they’re getting into.
My client was pre qualified; what does purchasing power mean?
A client’s purchasing power is an estimate of how much they’re prequalified to spend with Affirm. They don't have to use the full amount, and they're not on the hook to pay anything back until they make a purchase.