What are the fees for Buy Now, Pay Later?
The Buy Now, Pay Later fee is 6% + $0.30 per transaction. Stripe also charges a .25% transfer fee for payments. Affirm does not charge integration fees, annual fees, or monthly fees.
Can I pass the Buy Now, Pay Later fee to my customers?
No, this fee cannot be passed on to your customers, as it is against Affirm's Policy. Learn more here.
Why can't I refund an old Buy Now, Pay Later payment?
According to Stripe Documentation, any refunds to Buy Now, Pay Later payments need to be made within 120 days of payment.
If you need to refund a Buy Now, Pay Later payment past 120 days, you can do so by recording an Offline Refund.
You can learn more about recording an Offline Refund here.
What happens when a client pays with Affirm adds more to an order?
If a client has already been approved by Affirm for an original payment total, they will need to apply and execute an additional/separate loan for the difference that is now owed.
What if a customer cancels an order after paying with Affirm?
Your business's specific refund policy determines the amount a client can get back. If a client requests a refund, whether it's a partial or full reimbursement, you can process this through the "Billing" tab of the project.
Once the refund is processed, clients can expect to see the refund amount reflected on their Affirm loan timeline within 3-10 business days. This means that their balance will be updated to reflect the refunded amount. Learn more here.
What happens when a client pays with Affirm adds more to an order?
If a client has already been approved by Affirm for an original payment total, they will need to apply and execute an additional/separate loan for the difference that is now owed.
What if a customer stops making their Affirm payments?
Affirm doesn't charge late fees, but if your client's payments are more than 120 days overdue, their loan may be charged off and sent to a third-party collections agency. This charge-off could impact their credit report. Affirm provides advance notice of late payments and impending charge-offs, as well as notifications when a charge-off occurs.
If their loan goes to a third-party collections agency, payments made to the agency may take a day to appear in their Affirm account. However, the charged-off status on their credit history is permanent.
If your client is approaching a charge-off, they can reach out to Affirm for assistance in understanding their options here.
Note that Delinquent payments do not impact the funds you received from the client's Buy Now, Pay Later payment. All transactions are managed by Affirm or a third-party collections agency should the client fail to make payments.
Why can't I refund an old Buy Now, Pay Later payment?
According to Stripe Documentation, any refunds to Buy Now, Pay Later payments need to be made within 120 days of payment.
If you need to refund a Buy Now, Pay Later payment past 120 days, you can do so by recording an Offline Refund.
You can learn more about recording an Offline Refund here.
What happens if a client disputes a Buy Now, Pay Later charge?
The normal dispute process ensues. Stripe holds back the disputed amount from your balance until Affirm resolves the dispute. If Affirm resolves the dispute in your favor, Stripe returns the disputed amount to your Stripe balance. If Affirm rules in favor of the customer, the balance charge becomes permanent. Learn more here.
What’s the difference between Buy Now, Pay Later and Monthly or Flexible Payment Schedules?
Buy Now, Pay Later (via Affirm):
Clients pay over time using Affirm, but you receive the full amount upfront (minus fees).
You must absorb the processing fees; they can’t be passed to clients.
Monthly or Flexible Payment Policies:
Clients pay you in installments based on a set schedule (e.g., deposit + 8 payments + final).
You receive money as it's paid and can choose to absorb or pass on processing fees. Learn more
🧠 Use Buy Now, Pay Later for fast full payment and client flexibility. Use Monthly/Flexible payment policies for more hands-on payment structuring and fee control.
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