Please Note: Flexible Payments with Affirm is currently only available to Canada-based shops using Shopmonkey Payments. If you are a US-based shop looking for an integrated financing tool, please check out our help article Shopmonkey Payments: Buy Now, Pay-Over-Time with Sunbit.
Flexible Payments with Affirm for US-based shops will be available soon.
What are Flexible Payments with Affirm?
Affirm gives your customers flexible financing options at checkout—so they can pay over time, while you get paid up front.
How do Flexible Payments with Affirm work?
Customers apply for financing during checkout. Once approved, they can complete their purchase. You get paid in full up front by Affirm, and Affirm manages all repayment.
What payment plans are available to customers?
Pay in 4: Four interest-free, biweekly payments (available for purchases between $50–$250 CAD)
Monthly Installments: Flexible terms up to 60 months, with 0%–36% APR, depending on the customer and their credit
What’s the maximum purchase amount customers can finance?
Affirm can finance purchases up to $25,000 CAD. For amounts exceeding $20,000 CAD, customers may need to make a down payment to cover the difference.
Are there any fees for my shop?
Yes. There is a 6% fee per Affirm transaction, which is automatically deducted from your payout.
Is there any risk to my shop if a customer doesn’t repay?
No. Affirm assumes all repayment risk and handles customer servicing and collections.
Are there any hidden fees or late penalties for my customers?
No. Affirm does not charge late fees, hidden costs, or penalties.
Can I opt out of using Affirm?
Yes. You can turn it off anytime by following these steps:
Go to Settings > Payments in your Shopmonkey account
Find the Buy Now, Pay Over Time section
Toggle the feature off
Where can I learn more about Affirm for merchants?
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