Q: Which transactions qualify for Pay Over Time?
A: Payment Requests between $500 - $15,000 will give your customers the option to Pay Over Time once enabled. For home services businesses the limit is up to $25,000.
Q: What is the transaction fee for Pay Over Time?
A: The transaction fee is 3.9%.
Q: How long does it take for my business application to offer Pay Over Time to be approved?
A: Usually, it takes about 2 days to get approved but it can take up to 5.
Q: How will I know that my business application for Pay Over Time has been approved?
A: You will receive an email and the option to pay over time will appear on your payment requests for charges between $500 - $15,000. For home services businesses the limit is up to $25,000.
Q: What types of payment options will my customers receive with Pay Over Time?
A: Once a customer fills out the form, they will have up to 6 options, with APRs ranging from 0% - 35.9% and terms from 3-60 months. APR is based on creditworthiness. No other financing charges or participation fees. *
*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.
Q: How long does it take for my customer's application to Pay Over Time to be approved?
A: Customers will be approved in a matter of seconds once they complete the form. Approval is based on their, FICO score (minimum 540), debt-to-income ratio, payment history, and annual income. 90% of applications are approved. Once approved, your customer will receive a text and email confirmation that their application has been approved. You will also receive an email notification that their financing has been approved.