At Check Cherry, we want you to have flexibility in how you offer payment options to your clients. Two popular methods are Check Cherry Payment Plans and Klarna financing. While they both let customers pay over time, they work very differently. Here’s a breakdown:
Klarna
How it works: Klarna provides financing directly to your customer. They pay Klarna over time, while you (the merchant) get paid the full amount up front.
Fees: Klarna charges 6.9% on each transaction.
Customer experience: Customers go through Klarna’s checkout process and agree to financing terms. They’ll manage payments directly with Klarna, not through you.
Adjustments: Once a purchase is completed, Klarna manages the loan, so you cannot adjust the payment schedule or amounts.
Check Cherry Payment Plans
How it works: Payment plans are handled directly inside Check Cherry. Instead of paying all at once, your customer’s card on file is billed automatically based on the schedule you set.
Fees: You only pay your standard Check Cherry Payments processing fees (no extra 6.9% Klarna fee).
Flexibility: You can adjust plans after the fact—change due dates, amounts, or even add/remove installments.
Customer experience: Customers agree to the plan at booking, and payments are collected automatically. They don’t need to apply for credit or financing.
Cash flow: You receive funds as each installment clears, not up front.
Which Option Is Right for You?
Use Klarna if: You want the security of receiving the full amount up front and don’t mind paying the higher 6.9% fee.
Use Payment Plans if: You want more control, lower fees, and flexibility to work with your customers on their payment schedules.
✅ Tip: Many merchants prefer Payment Plans for lower costs and flexibility, while Klarna can be useful for higher-ticket items where getting the full amount up front is worth the extra fee.