The most common questions firms ask are who can actually use Pay Later, and whether checking hurts a client's credit. Here is what determines eligibility, and what you can and cannot see as a firm.
Who it's for
Pay Later is available to individual clients. It is not available to businesses or other entities paying for commercial purposes.
What the client needs
To apply, a client needs a US or US-territory mobile number so Affirm can verify their identity, and they must apply on their own personal device. Applying on a firm computer, tablet, or phone violates Affirm's terms of use.
Credit impact
When a client checks their options, Affirm runs a soft credit check, which does not affect their credit score. Anything beyond that, including how the loan itself is reported, is between the client and Affirm. Do not make credit representations to clients yourself. Point them to lawpay.com/affirm, which carries Affirm's approved wording on credit.
Transaction size
Pay Later supports transactions from $150 to $30,000, per transaction. It is not a line of credit. Each transaction is evaluated on its own, and a client's available amount depends on their eligibility.
Good to know
You can't pre-check eligibility. Only the client can apply, and Affirm returns the decision to the client in real time.
Clients can use it more than once. If a retainer runs low mid-case, the client can apply for an additional loan.
If a client is not approved, they can pay another way, and nothing changes for your firm.