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Buy now, pay later · Payment methods

Affirm for online stores: how it works and who can accept it

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Affirm is a buy now, pay later lender used in the US and Canada, with the UK in private preview on Stripe. Depending on the order size, shoppers see pay in 30 days, four interest-free payments every two weeks, or monthly installments from 3 to 36 months, which may carry interest. Through Stripe, orders run from $35 to $30,000. The store is paid upfront, Affirm collects from the shopper and covers customer fraud losses. Recurring payments are not supported.

Where it works
US and Canada; UK in private preview on Stripe; domestic sales only
Currencies
USD, CAD (GBP in preview)
Order range (Stripe)
$35 to $30,000
Plans
Pay in 30 days ($35 to $50, US only), pay in 4 (50 to 500), monthly 3 to 36 months (100 to 30,000)
Settlement
Up to 2 business days on Stripe
Refunds
Within 120 days; interest the shopper paid is not returned
Disputes
Shopper has 120 days; 15 days to respond; a payment can be disputed more than once

What PlatformDTC does

PlatformDTC checkout does not offer Affirm today. US shoppers can split one-time orders with Klarna ($1 to $10,000) or Afterpay ($1 to $2,000), or pay by card, Apple Pay, Google Pay or PayPal; Canadian shoppers get Klarna from C$1 to C$17,500 and Afterpay from C$1 to C$2,000.

How Affirm plans work

Affirm picks the plans to show from the order total. On Stripe's Standard package, interest rates run from 10% to 36% APR, subject to the shopper's eligibility; Stripe's example is an $800 purchase costing $72.12 a month over 12 months at 15% APR. An Enhanced package gives shoppers more 0% APR terms.

Order totalPlans shown
35 to 49.99 (USD only)Pay in 30 days, 0% APR
50 to 99.99Pay in 4, 0% APR (pay in 3 in the UK)
100 to 499.99Pay in 4 at 0% APR; 6 or 12 months with interest
500 to 699.993 months at 0% APR; 6 or 12 months with interest
700 to 1,699.996 months at 0% APR; 12 or 18 months with interest
1,700 to 30,0006 months at 0% APR; 12 or 36 months with interest
Affirm Standard financing package on Stripe (USD, CAD and GBP amounts)

What it means for your store

Affirm's business site says it pays merchants upfront and in full. Through Stripe, money settles within 2 business days. Shoppers sign in to Affirm to approve each purchase, and Affirm covers losses from customer fraud, though it may ask you to stop or pause a shipment first.

Refunds must be sent within 120 days and complete in about 2 days. Affirm cancels the remaining payments and returns what the shopper paid, minus any interest. Disputes can be filed up to 120 days after purchase; you get 15 days to respond and Affirm decides within 60 days. Each dispute on the same payment counts separately.

Who can accept Affirm

Stripe accounts in the US and Canada can accept Affirm for consumer sales, with the UK in private preview. Affirm excludes business-to-business sales, home improvement contractors, vehicles, professional services, NFTs and pre-orders, and asks for a public website that shows prices in the shopper's currency.

Frequently asked questions

Does Affirm work for subscriptions?
No. Stripe lists recurring payments as not supported for Affirm, and Affirm can't be saved for off-session charges.
What can my US shoppers use instead of Affirm on PlatformDTC?
Klarna on one-time orders from $1 to $10,000 and Afterpay from $1 to $2,000, plus cards, Apple Pay, Google Pay and PayPal, where PayPal may show its own Pay Later to eligible shoppers.
What is the smallest order Affirm accepts?
On Stripe the minimum is $35, for a single payment in 30 days; pay in 4 starts at 50 and monthly plans at 100 in USD, CAD or GBP.

Sources

Related

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