Vagaro has partnered with Affirm to enhance payment flexibility for your clients. This integration allows customers to pay for your products, packages, memberships, and services in installments, while your business receives the full payment upfront (minus a processing fee). Also, if a customer misses a payment or defaults, your business is not affected.
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Processing Fee: A 6% + $0.30 fee is applied per Affirm transaction.
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Affirm Customer Support: Customers can obtain assistance directly from Affirm at affirm.com/help.
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Transaction Limits: Customers can use Affirm for purchases ranging from $50 to $30,000. Affirm finances up to $20,000; for purchases exceeding this, customers may make a down payment of up to $10,000 to cover the difference.
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Deposit Time: Funds from Affirm transactions follow your regular batch schedule and are typically deposited within one business day.
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Only Available in the United States: Currently, Buy Now, Pay Later with Affirm is only available in the United States. Businesses in Canada, Australia, or the United Kingdom do not have access to this feature.
Customers will see Affirm as a payment option when browsing your service menu or when you process payments in-house. If you require a deposit at checkout, customers can use Affirm to cover the deposit. When the deposit is less than 100% of the total cost, they can also pay the remaining balance with Affirm, provided the purchase meets your minimum payment requirement.
Disclaimer
Payment options through Affirm are subject to an eligibility check, may not be available everywhere, and are provided by these lending partners: affirm.com/lenders.
Prerequisites: This feature requires Credit Card Processing.
Buy Now, Pay Later is automatically turned on for businesses with Credit Card Processing active, so you can start accepting Affirm payments right away. To give you more control over how this payment option is used, we recommend setting a minimum purchase limit for Affirm transactions.
To set a minimum limit for purchases:
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Go to Buy Now, Pay Later:
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Phone: Select More
→ → .
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Computer, Tablet, Pay Desk, or PayPro: Select Settings
→ .
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Enter the minimum purchase amount in the Min field.
Affirm can be deactivated at any time, irrespective of outstanding loan payments.
To deactivate Affirm:
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Go to Buy Now, Pay Later:
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Phone: Select More
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Computer, Tablet, Pay Desk, or PayPro: Select Settings
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Select Deactivate.
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Select Deactivate again to confirm.
Before you can start accepting payments with Affirm, you must activate Buy Now, Pay Later.
To activate this feature
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Go to Buy Now, Pay Later:
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Phone: Select More
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Computer, Tablet, Pay Desk, or PayPro: Select Settings
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Select Activate.
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Upon activation, set the minimum payment amount for Affirm transactions.
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Select Save.
All employees and booth renters are enrolled for Buy Now, Pay Later. No action required. However, keep the following in mind:
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Commissions for Affirm transactions are calculated from the total sale amount of Affirm transactions. The processing fee is not excluded.
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If multiple merchant accounts are selected at checkout, funds are split based on the service price.
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Employees with their own merchant account can't turn this feature on or off for themselves.
All refunds for Affirm transactions must be processed back to the original payment method:
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A refund will be posted to the customer’s Affirm account after the refund request is processed. Affirm does not refund any paid interest. A refund credit will appear in the customer’s bank account within three to ten business days, depending on their bank's processing time.
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Refunds will be deducted from deposits the following business day. The processing fee won't be refunded.
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Do not refund Affirm purchases with cash or gift cards to prevent duplicate refunds or uncredited customer accounts.
Any transactions made with Buy Now, Pay Later are included in your Vagaro reports.
You can find Buy Now, Pay Later reporting in:
Use these reports to track how much you've made through Affirm and any fees you've paid.
Comments
2 comments
6% is way to much for this feature
Hi Max,
The 6% fee is standard for this type of service. Competitors offering similar buy now, pay later options charge comparable or higher rates. Many businesses see that the increase in average ticket size and the ability to attract more customers more than make up for the fee.
Thanks, Jamie
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