What is Affirm?
Affirm is a third-party company Wheelbase has partnered with to allow renters to finance all or a portion of their trip with payments due at a later time.
How Do I Make Affirm Available To My Renters?
You are able to make Affirm available by going to your Premium Servies tab and selecting ON under Affirm.
Loan Application Process
The loan application process for Affirm, can be started during the booking process for the renter's reservation. Once the renter has reached the payment details screen, they will have the option to pay with Affirm and qualify if they have not already done so.
Once the renter has selected the option to use Affirm, they will be brought to Affirm.com where they will undergo the application process. The renter will be asked for their phone number to begin the process, followed by personal identifying information. In total, the overall process should take approximately 5 minutes and decisions are instantaneous in most cases.
NOTE: The Affirm application process is a credit inquiry and will result in a hard credit pull for the renter.
Once a renter has applied and selected their preferred payment plan, they will be provided additional information regarding their approval. In the event the renter is not fully approved for the full amount of their booking, they will be instructed to enter a secondary payment method into the checkout flow payment details section.
Additionally, if the renter is required to pay Affirm an amount prior to financing approval, they will be provided with this information and an option to pay prior to the returning to the checkout page of the reservation.
Wheelbase is unable to apply a payment from Affirm to a booking. If the renter is unable to do it from their end or is having issues, they will need to reach out directly to Affirm.
How Is Payment Received When The Renter Uses Affirm?
The Business Owner will receive a payout as usual, Affirm doesn't change how payouts work.
If a renter defaults on a payment, that will be between the renter and Affirm; this will not affect your payouts.