How do I activate Buy Now, Pay Later on my invoices?

Buy Now, Pay Later is available for FreshBooks Payments powered by Stripe users, and offers your clients a way to split purchases into smaller, pre-scheduled installments that can be paid over time. Buy Now, Pay Later allows you to remove cost barriers and make your services more accessible to your clients. Buy Now, Pay Later is provided through Affirm for CAD and USD invoices, and Afterpay for USD invoices.

 

Buy Now, Pay Later Details

To use Buy Now, Pay Later on your invoices, review the following details: 

  • Availability - For businesses that already have FreshBooks Payments set up with completed verification
    • Businesses are subject to Stripe’s eligibility, including prohibited and restricted businesses with Affirm and with Afterpay 
    • If needed, review your Stripe dashboard and complete any additional verification requests including adding an SSN
  • BNPL Transaction Fee - Review What are the transaction fees for FreshBooks Payments?
  • Limitations
    • Individual invoices for the full amount, with no deposits
    • Individual invoices, not recurring templates
    • B2C transactions where the business and client are in the same country (Canadian clients paying CAD invoices, US clients paying USD invoices)

 

Buy Now, Pay Later with Affirm

Buy Now, Pay Later with Affirm is available for Canadian and US businesses using FreshBooks Payments powered by Stripe. Affirm gives your clients a way to split purchases over a series of payments in 4 biweekly interest-free installments or in monthly installments up to 36 months.

Business Details

  • Flexible - Offer flexible payment options to your clients while you get paid upfront minus the transaction fee
  • No Risk - Affirm handles all repayments, so you carry no risk for BNPL transactions regardless of whether the client makes payments to Affirm on time

 

Client Details

  • No Hidden Fees for Clients - Clients get convenient, transparent terms with no late or hidden fees
  • Client Eligibility - The amount the client is approved for depends on their eligibility and credit worthiness, checking eligibility is quick and will not impact the client’s credit
  • Financing Program* - Affirm offers each applicant a few options depending on their eligibility and payment total:
    • Pay in 4 - Pay in 4 interest-free, biweekly installments on transactions totalling up to $250
    • Pay in Monthly Installments - With terms up between 3 to 36 months, some larger transactions may come with longer terms
    • Above $250, each applicant is presented with a different annual percentage rate (APR) based on their creditworthiness at the time of approval
      • US Clients - Rates are between 10-36% APR and subject to an eligibility check
      • Canadian Clients - Rates are between 10-31.99% APR and subject to an eligibility check
    • Offers are subject to change
  • Limits - Clients can use Buy Now, Pay Later on invoices ranging from $50 minimum to $30,000 maximum in CAD or USD
    • Affirm finances up to $20,000 CAD or USD, the client covers the remaining $10,000 CAD or USD as a down payment

 

For additional details on Buy Now, Pay Later with Affirm, review Affirm’s US Help Center / Affirm’s Canada Help Centre or contact Affirm at merchanthelp@affirm.com.

*US Residents - Rates from 0-36% APR. For example, a $800 purchase might cost $72.21/mo over 12 months at 15% APR. Payment options through Affirm are subject to an eligibility check, may not be available everywhere, and are provided by listed lending partners. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to a California Financing Law license. For licenses and disclosures, review Affirm's licenses. Options depend on your purchase amount, and a down payment may be required.

*Canada Residents - Rates from 0-31.99% APR (subject to provincial regulatory limitations). Payment options through Affirm Canada Holdings Ltd. (“Affirm”) are subject to an eligibility check, and depend on purchase amount, payment terms, vary by merchant, and may not be available in all provinces/territories. Minimum purchase and down payment may be required. For example, an $800 purchase could be 12 monthly payments of $72.21 at 15% APR for total repayment of $866.48 (credit charges of $66.48), or 4 interest-free payments of $200 every 2 weeks.

 

Buy Now, Pay Later with Afterpay

Buy Now, Pay Later (BNPL) with Afterpay is available for US businesses using FreshBooks Payments powered by Stripe. Afterpay gives your clients a way to split purchases over a series of payments in 4-interest free installments, or in monthly installments of 3, 6, 12, or 24 months.

Business Details

  • Flexible - Offer flexible payment options to your clients while you get paid upfront minus the transaction fee
  • No Risk - Afterpay handles all repayments, so you carry no risk for BNPL transactions regardless of whether the client makes payments to Afterpay on time

 

Client Details

  • Client Eligibility - The amount the client is approved for depends on their eligibility and credit worthiness, checking eligibility is quick and will not affect the client’s credit score
  • Financing Program - Afterpay offers each applicant a few options depending on their eligibility and payment total:
    • Pay in 4 - Pay in 4 interest-free, biweekly installments on transactions totalling up to $400 USD
    • Pay in Monthly Installments - With terms up to 3, 6, 12, or 24 months, some larger transactions may come with longer terms
  • Limits - Limits - Clients can use Buy Now, Pay Later on invoices ranging from $1 minimum to $4,000 maximum in USD

For additional details on Buy Now, Pay Later with Afterpay, review Afterpay’s Help Center or contact Afterpay directly.

 

Activate Buy Now, Pay Later on Invoices

Buy Now, Pay Later can be activated on any USD or CAD invoice with the below steps:

  1. If you have not yet set up FreshBooks Payments, complete the steps to accept online payments with FreshBooks Payments powered by Stripe first
  2. When creating an invoice, under Settings, select Accept Online Payments
    Accept online payments under settings on invoice.
  3. With FreshBooks Payments selected, under Buy Now Pay Later in the list of payment methods, check off the boxes next to Affirm and/or Afterpay
  4. Select Done to finish applying the payment settings and continue editing the rest of your invoice.


Buy Now, Pay Later Notes:

  • Client Experience - To view what the experience looks like for your clients when paying by direct debit, review As a client, how do I pay an invoice using Buy Now, Pay Later?
  • Installments - Partial payments and payment schedules are not available to use with Buy Now, Pay Later since installments are offered through these providers already
     
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