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Merchant Help

 

Affirm Merchant Help

Virtual Terminal FAQ

This FAQ provides a quick reference for merchant sales teams when using Affirm’s Virtual Terminal while working with customers. For all other questions, you may reference Affirm’s consumer FAQ at https://www.affirm.com/faqs.

How can I estimate the Affirm monthly payment for my customer?

  • ​Our monthly payment messaging generally reads as "$X/mo based on the purchase price of $Y at Z% APR for 12 months".
  • The Truth in Lending Act requires you to disclose loan terms when talking to customers, so it's important to call out the monthly price (X), the purchase price (Y), the predicted APR rate (Z), and the monthly term used for the calculation.
  • To estimate the monthly price (X), use the calculator at https://www.affirm.com/apr-calc/.

How do I process payments using Affirm and my order management system?

  • Since no technical integration is required, you may originate the order in your existing order management system and then use the Virtual Terminal to process payment separately.
  • After capturing the charge, mark ‘Paid with Affirm’ in your order management system and note the Affirm Loan ID.
  • Click here for more details about processing steps. 

What’s the status of my customer’s Virtual Terminal charge?

What action should I take if the checkout is in Opened or Closed status?​

  • If the customer opens the checkout link but doesn't start the application, follow up with them to see if they have any questions.
  • If the customer closed the application, follow up with them to offer an alternative form of payment.
  • Click here for more details about the checkout status script

When does my customer’s Virtual Terminal checkout link expire?

The checkout link expires after 7 days, and its status will change to Expired.

What are the possible application exceptions?

  • Affirm sometimes requires additional information to consider a credit application.
  • Additional information may include a bank checking account, proof of a government-issued ID, or income verification.
  • The sales scripts provide details and screenshots to explain common exceptions. 

What happens if my customer doesn't get approved?

  • If the loan application is not approved, the checkout status remains Closed until the checkout link expires in 7 days.
  • Affirm immediately notifies your customer of the decision with details via a secure message.
  • The sales scripts provide details and screenshots to explain how to handle declines. 

What information will I receive if my customer doesn't get approved?

Your customer’s privacy is safe with Affirm. We won't share the specific declination status of each applicant with you (the merchant). However, merchants can view when an Affirm application is closed by a customer, which may occur when the customer doesn't complete the application, the customer doesn't confirm the loan terms, or Affirm doesn't approve the application.

What can I do if my customer gets declined?

  • Offer professional condolences if a customer informs you that they didn't get approved.
  • You may offer an alternative form of payment.

Can I contact Affirm to override the credit decision?

No, our credit decisions are final.

Can I send the application to myself to complete the Affirm application on behalf of my customer?

No. Completing an application on a customer’s behalf violates consumer finance laws and regulations. Doing this could result in termination of the merchant’s relationship with Affirm.

How do I receive payment?

Sign in to the Virtual Terminal to capture the authorized charge.

When do I get paid?

Payment will be settled with your bank within 2–3 business days of your capture date.

How many days do I have to capture an authorized charge?

Affirm provides a 30-day authorization period to capture your charge.

How do I process a refund?

  • Sign in to your merchant dashboard to access the charge and Refund the captured charge.
  • You may process a partial refund or a full refund.

What happens when I issue a partial refund?

  • The amount of the refund is deducted from your next settlement.
  • The partial amount is deducted from the final month(s) of the loan.

Is it possible to undo a refund?

No. If you need to add funds back to the balance of the loan, you'll need to create a new Virtual Terminal checkout. However, it's possible that the customer won't get approved the second time.

Does Affirm have an API for a direct integration with my order management system?

Yes, click here for more information.

Does Affirm have a Virtual Terminal integration for Salesforce?

Yes, contact us for more information.

Who do I contact for Virtual Terminal questions?

For expedited service, please direct your Virtual Terminal questions to Merchant Help.

Does Affirm offer direct phone support for urgent Virtual Terminal questions?

No, email is the primary support channel for Affirm merchant services.

Where should I direct customer questions about Affirm?

The best way for your customer to contact Affirm is via email at help@affirm.com.