Merchant FAQs

How does PayFina work?

Customers complete a short online application, which can be done from any computer, tablet or smartphone.
Applications are approved or declined instantly.
If approved, customers and merchants will know the maximum approval amount and terms of their approved financing.
Merchants complete the details of the purchase (e.g., amount and description).
Customers digitally review and sign their contract from their smartphone, tablet or computer.
Upon receipt of the signed contract and a copy of the invoice from the merchant, PayFina remits payment to the merchant the next business day.*
*excluding bank holidays

Will applying affect my customer’s credit score?

No, applying will not affect their credit score. During pre-qualifying, PayFina performs a “soft pull” to make its credit decision and provide approved applicants with the rates and terms of their approval. If your customer accepts the financing, PayFina then performs a “hard pull” when they sign the closing documentation. A hard pull may impact their credit score.

How much can my customer be approved for?

Customers may be approved for up to $5,500.

What are the repayment terms?

Typical repayment terms will be 12 or 24 months. The approval amount and finance terms are dependent upon multiple factors, including income, credit, and banking history.

How quickly will my customer receive a decision?

Your customer will receive a response within seconds of submitting their application.

How soon will funds be deposited in my bank account?

PayFina remits the funds via ACH the next business day*.
*excluding bank holidays

How do I begin using PayFina?

Start by completing the online enrollment. Once received, PayFina will complete the enrollment process, issue your credentials to access the Merchant Portal, and reach out to schedule training.

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Contact PayFina.