The standard Wisetack merchant approval in Floorzap includes a 3-month 0% APR* financing option, allowing qualified customers to pay over 3 months' time without interest. For businesses wanting to offer longer 0% APR terms, options for 6, 12, and 24 months are available as add-ons.
When a customer decides to enroll in one of these add-ons, their transaction fee will vary based on the financing option their customer chooses. However, they only pay the higher fee when a customer qualifies for and selects an extended 0% APR option beyond 3 months. Otherwise, they pay the standard 3.9% fee.
Customer qualifications for 0% APR options
Lenders on the Wisetack platform look at a variety of factors when determining eligibility such as credit score, loan amount, income etc.
When enrolling in 0% options, this does not guarantee your customer will qualify for a 0% option. Therefore, it is recommended to not promise any specific pricing to your customers.
*All financing is subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $1,200 purchase could cost $104.89 a month for 12 months, based on an 8.9% APR, or $400 a month for 3 months, based on a 0% APR. Offers range from 0-35.9% APR based on creditworthiness. State interest rate caps may apply. No other financing charges or participation fees. See additional terms at Frequently asked questions for consumers.