The standard Wisetack merchant approval in PaintScout 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 you decide to enroll in one of these add-ons, your transaction fee will vary based on the financing option your customer chooses. However, you only pay the higher fee when a customer qualifies for and selects an extended 0% APR option beyond 3 months. Otherwise, you pay the standard 3.9% fee.
How to Enroll
To update your 0% APR offerings directly in PaintScout, navigate to your Profile > Integrations > Wisetack > Settings. Select your desired plan, and it will save automatically. You will receive a confirmation email from Wisetack shortly after.
What Happens Next?
When you're enrolled in a 0% APR add-on, nothing will change in your day-to-day. If your customer qualifies, a 0% APR financing option from your selected add-on plan will simply appear among the financing options they will see in an application.
Your merchant fee will change based on the 0% option your customer picks. For example, if you choose to offer 0% APR for up to 12 months, qualified customers will see 3, 6, and 12 month 0% APR options. All options above 12 months would be interest-bearing.
Customer qualifications for 0% APR options
Wisetack looks 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. No other financing charges or participation fees. See additional terms at http://wisetack.com/faqs.