Buy Now, Pay Later

Tekmerchant now offers buy now, pay later giving your customers convenient and flexible payment options at checkout using Affirm or Klarna. Accessible from within the RO Invoice, customers can easily select Affirm or Klarna, quickly login to their account (or create a new one), and choose the payment option of their choice.

1. How to Enable Buy Now, Pay Later
2. How Does It Work?
3. Taking Payment With Affirm or Klarna
4. Payment Options
5. Soft Credit Check

How to Enable Buy Now, Pay Later

In order to enable this feature, please contact Tekmerchant at 832-930-9400 option 2 or email at tekmerchantsupport@tekmetric.com to get started!

How Does It Work?

Affirm and Klarna offer payment options (learn more) based on factors such as customer credit, prior account history, and RO amount. When paying with Affirm or Klarna, customers are redirected to Affirm or Klarna's website from the RO Invoice, where they authorize the payment by agreeing to the terms of a payment plan, then return to Tekmetric to complete their purchase. After payment acceptance, the full amount paid (minus processing fees similar to that of a credit card) is made available to your Tekmerchant account upfront, and Affirm or Klarna collect the amount from your customer directly (including any interest, if applicable). 

The fund settlement time for Affirm and Klarna operates similarly to that of a credit card meaning deposits will be cleared and settled in 1-2 business days into your Tekmerchant account. 

⚠️ IMPORTANT: There is no risk to you if your customer misses a payment or defaults on their financing options.

Taking Payment With Affirm or Klarna

Both Affirm and Klarna are accessible to customers via the Make Payment button on the RO Invoice. For existing Affirm or Klarna users, they can easily login to their account and choose the payment option of their choice making for a nearly one-click checkout experience. For new users, they will need create an Affirm or Klarna account during checkout prior to completing their purchase.

⚠️ IMPORTANT: Affirm and Klarna are only available for ROs of $250 or more. For Affirm, there is a maximum limit of $30,000; while Klarna will be dependent upon the customer's personal financial information (learn more).

Payment Options

Affirm and Klarna offer slightly different payment options depending on the RO amount as well as the customer's financial profile via Affirm or Klarna (payment option availability and eligibility may vary).

Affirm

• Pay in 4 - Customers pay for purchases in four or fewer interest-free, bi-weekly payments over an 8 week term.
• Monthly Installments - Customers pay for purchases over a longer term of up to 36 months, which might include interest.

Klarna

• Pay in 3 or 4 - also known as Installments, customers pay for the purchase in three or four interest-free payments.
• Monthly installments - Also known as Financing, customers pay for the purchase over a longer term of up to 36 months, which might include interest.
• Pay later - Customers pay for the purchase in a single payment in 30 days.
• Pay now - Customers pay for the purchase immediately using a linked card, bank debit, or bank transfer.

Soft Credit Check

For "Pay in 4", "Pay Later", and other 0% APR plans, there is no credit check performed or reported. However, Affirm (learn more) and Klarna (learn more) will perform a soft credit check on your customers for some financing options such as "Monthly Installments" (if applicable).