We are thrilled to announce that our platform now supports **Affirm**, a leading Buy Now, Pay Later (BNPL) payment solution.
By integrating Affirm into your checkout process, you can offer your customers flexible financing options, potentially increasing sales and customer satisfaction.
This guide will explain how Affirm works and provide step-by-step instructions on how to enable it in your Stripe dashboard.
What is Affirm?
Affirm is a financial service that allows customers to split their purchases into manageable monthly payments. By offering Affirm at checkout, you provide:
- Flexible Payment Plans: Customers can choose financing options that suit their budget.
- Transparent Terms: Affirm offers clear terms with no hidden fees or late charges.
- Instant Approval: Quick financing decisions help reduce cart abandonment.
Benefits of Offering Affirm
- Increase Conversion Rates: Flexible financing can encourage hesitant customers to complete their purchases.
- Boost Average Order Value: Customers may spend more when they have the option to pay over time.
- Enhance Customer Experience: Offering modern payment options can improve customer satisfaction and loyalty.
How to Enable Affirm in Your Stripe Dashboard
Prerequisites
- Stripe Account: Ensure you have an active Stripe account connected to our platform.
- Compliance: Affirm is subject to regional availability and compliance requirements. Verify that your business meets Affirm's eligibility criteria.
Step-by-Step Guide
1. Log into Your Stripe Dashboard
- Visit dashboard.stripe.com and sign in with your Stripe credentials.
2. Navigate to Payment Methods
- From the main menu on the left, click on "Settings".
- Under the "Payments and Payouts" section, select "Payment methods".
3. Locate Affirm
- In the list of available payment methods, find "Affirm" under the Buy Now, Pay Later category.
- Note: If you don't see Affirm listed, it may not be available in your region. Contact Stripe support for assistance.
4. Enable Affirm
- Click the "Turn On" button next to Affirm.
- Review any terms and conditions presented, and confirm that you agree.
5. Configure Affirm Settings (If Applicable)
- Some settings may be customizable, such as:
- Display Preferences: How Affirm appears during checkout.
- Financing Options: Available payment plans for customers.
- Adjust these settings according to your preferences and save changes.
6. Enable Affirm in Foundation
- Once Affirm is enabled in Stripe, you can now enable Affirm for each payment terms
- Go to Pricing >> Payment Terms
- Scroll to the bottom and Enable Affirm for the payment terms of your choice
- To verify that Affirm is enabled, use your demo buyer account to go the storefront
- In the checkout page, verify that you have a Pay Later Options.
Additional Considerations
Regional Availability
- United States Only: As of now, Affirm is primarily available for businesses operating in the United States.
- Regulatory Compliance: Ensure compliance with all financial regulations related to offering financing options.
Fees and Payouts
- Transaction Fees: Be aware of any additional fees charged by Affirm or Stripe for processing BNPL transactions.
- Payout Schedule: Understand how and when funds from Affirm transactions will be disbursed to your account.
Customer Communication
- Promote Affirm: Let your customers know about the new payment option through marketing channels.
- Clear Messaging: Provide information about financing terms and conditions at checkout.
Support and Resources
- Our Support Team: If you have questions or need assistance, please contact us.
- Stripe Support: Visit Stripe's support center for detailed guides and FAQs.
- Affirm Resources: Learn more about Affirm at affirm.com/business.
Conclusion
By enabling Affirm in your Stripe dashboard, you're offering a valuable service that can enhance the shopping experience for your customers. Flexible payment options like Affirm not only meet customer expectations but can also drive increased sales and growth for your business.
We encourage you to enable Affirm today and take advantage of the benefits it offers both you and your customers.
📩Need more help or further clarification? Email us at success@getfoundation.com.