Affirm helped pioneer buy now, pay later (BNPL) financing, giving consumers the flexibility to pay over time instead of all at once. Originally designed for retail and e-commerce, its transparent pricing and flexible payment structure are now influencing how patients pay for medical, dental, and aesthetic care.

For practices, offering BNPL options makes it easier for patients to move forward with treatment and helps clinics improve conversion rates without carrying financing risk. Still, many BNPL providers were built for retail, not healthcare. Both practices and patients need partners that combine instant approval decisions, soft credit checks, clear terms, and flexible payment options.

Here’s a look at top buy now, pay later apps like Affirm for healthcare financing, with a focus on repayment terms, interest rates, loan amounts, and fees — so practices can choose the right fit for their patients and workflow.

Cherry Payment Plans

Cherry is a healthcare-focused BNPL built for medical, dental, aesthetics, plastic surgery, dermatology, and veterinary care. Patients can apply in less than 60 seconds with a soft credit check (which doesn’t hurt credit score) and, if approved, choose clear installment options — from an interest-free Pay in 4 plan to longer terms up to 60 months. Approval amounts reach up to $50,000, and qualified borrowers can take advantage of true 0% APR — no deferred interest.

Providers, on the other hand, benefit from an 80%+ approval rate across credit profiles — boosting treatment acceptance — as well as the lowest merchant fees in the industry, upfront payment, and exclusive approvals that ensure patients use their funding at the office where they were approved.

Key Takeaways

• Application process: 60-second application with soft credit check and instant approval decision.
  
• Loan amounts: Up to $50,000.
  
• Terms: Pay in 4 — biweekly interest-free payments; extended monthly installment plans up to 60 months.
  
• Interest & fees: 0% APR options for qualified borrowers; no hidden fees such as deferred, retroactive, or compounding interest; no origination fees; no prepayment penalties.
  
• For providers: Built for healthcare financing; lowest merchant fees in the industry; upfront payment; high approval rates and wider eligibility; higher loan limits for larger purchases in healthcare; exclusive approvals; network of 50,000+ partner practices and small businesses.

Afterpay

Launched in Australia in 2014, today Afterpay is among the most well-known BNPL companies worldwide. Most consumers use it to split purchases into four equal payments over six weeks, but it can also be used for longer terms up to 24 months. The application process is quick, there’s no hard credit check, and patients pay no interest when payments are made on time. It’s a familiar name that can boost accessibility for lower-cost visits or add-on services.

However, Afterpay is better suited for smaller balances — its spending limits are dynamic, and late fees can apply. Since it’s designed for retail and not healthcare, it may not offer the flexibility practices need for more comprehensive treatment plans, and it’s only currently usable in aesthetics.

Key Takeaways

• Application process: Online or in-store application with instant approval decision at checkout; no hard credit check required.
  
• Loan amounts: Dynamic spending limits for smaller in-store and online purchases.
  
• Terms: Split payments into four interest-free installments over six weeks; one-time down payment may be required at checkout for longer-term plans.
  
• Interest & fees: No interest if paid on time; late fees may apply for missed payments; no origination fees or prepayment penalties.
  
• For providers: Widely available in person, on the app store, and through ecommerce integrations with Shopify stores, Amazon, and Walmart; in healthcare spaces, only usable in medical aesthetics for US customers; higher merchant pricing and small loan limits make it less practical for larger treatment plans.

Klarna

Klarna offers patients several ways to pay, including interest-free Pay in 4, Pay in 30, and longer-term financing plans that carry standard APR. The application only takes a few seconds, and Klarna’s app makes it easy for patients to track and manage their payments. It’s a familiar brand that works well for smaller balances or short-term costs.

However, Klarna’s maximum loan amounts are reportedly low, and its longer-term plans can come with higher interest rates. Since it’s designed with retailers and ecommerce platforms in mind, it doesn’t offer the flexibility or specialized support that healthcare practices typically need.

Key Takeaways

• Application process: Soft check for short-term plans and a full credit check for monthly financing; approval typically takes seconds.
  
• Loan amounts: No fixed spending limit; lower purchasing power compared to healthcare-specific BNPL services; best for low order values and smaller healthcare expenses.
  
• Terms: Pay in 4, Pay in 30, or extended monthly financing options.
  
• Interest & fees: Interest-free short-term options available; longer-term financing up to 29.99%; late fees apply; no origination fees or prepayment penalties.
  
• For providers: Recognized BNPL fintech brand that’s easy to integrate with point-of-sale (POS) systems; low loan limits and retail-focused partnerships make it less effective for medical or dental practices.
  

Sunbit

Sunbit helps patients spread out payments with flexible terms ranging from 3 to 72 months and loan amounts up to $20,000. The application is simple, uses a soft credit check, and provides an instant decision. Patients can access promotional 0% offers, but these programs use deferred interest — meaning if the balance isn’t paid in full by the end of the promo period, or if one payment is missed during that time, interest will be charged retroactively from the purchase date. Practices get quick funding and a soft credit check, but higher merchant fees and smaller loan limits make it less ideal for higher-cost procedures or specialty care.

Key Takeaways

• Application process: Fast and easy; patients apply in seconds with a soft credit check and receive an instant decision.
  
• Loan amounts: Up to $20,000.
  
• Terms: Flexible repayment terms from 3 to 72 months.
  
• APR & fees: Offers 0% promotional plans (with deferred interest) or standard APR plans up to 35.99%; no late payment fees; no origination fees or prepayment penalties.
  
• For providers: Quick funding and good integrations; geared toward borrowers with poor credit; higher merchant fees starting at 4.7%, smaller loan caps make it less ideal for large purchases; lack of healthcare specialization limits its value for elective procedures.

CareCredit

CareCredit is one of the most recognized names in patient financing. Backed by Synchrony Bank, it’s a medical credit card that lets patients pay for treatment over time with promotional “No Interest if Paid in Full” plans or standard APR options at 32.99% for longer terms. Credit lines can go up to $25,000, and patients can reuse the card for future care at over 270,000 providers. It’s a convenient option for patients who already have a CareCredit account, but the deferred-interest model can lead to surprise charges if the balance isn’t paid off during the promo period or if one payment is missed — and the higher standard APRs can make financing more expensive overall.

Key Takeaways

• Application process: Patients apply with a standard credit card application; a full credit check is required (hard credit inquiry) and approvals are typically returned within minutes.
  
• Loan amounts: $25,000 credit limit.
  
• Terms: Revolving line of credit.
  
• Interest & fees: Promotional 0% deferred-interest plans up to 24 months; reduced-APR plans up to 60 months; standard APR of 32.99%; late fees apply; no origination fee or prepayment penalties.
  
• For providers: Well-known and widely accepted; deferred interest charges can damage patient trust; full credit report pull can damage patient score; no exclusive approvals along with high merchant fees (starting at 5.9%) can affect profitability.
  

PayPal Pay Later (Pay in 4 & Pay Monthly)

PayPal Pay Later extends the well-known PayPal platform to financing. Pay in 4 divides purchases of up to $1,500 into four payments over six weeks with no interest, while Pay Monthly offers loans up to $10,000 for 3 to 24 months with a fixed APR. Patients can apply through their PayPal account and receive a decision instantly. It’s a trusted option for online and telehealth payments, but the lower limits and added interest on longer-term plans make it less practical for larger or in-office treatments.

Key Takeaways

• Application process: Fast online process; Pay in 4 uses a soft credit check, while Pay Monthly requires a full credit approval; decisions are near-instant.
  
• Loan amounts: Pay in 4 up to $1,500; Pay Monthly up to $10,000.
  
• Terms: Pay in 4 over six weeks or fixed monthly payments over 3–24 months.
  
• Interest & fees: Pay in 4 has no interest; Pay Monthly includes a fixed APR.
  
• For providers: Trusted payment method for online payments; higher merchant fees at 4.99% + a $0.49 transaction fee per purchase; low loan limits; less suitable for high-cost procedures.
  

Splitit

Splitit lets patients pay for treatment over time using their existing credit card instead of taking out a new loan. There’s no credit check — patients simply divide the total into equal monthly payments while their card holds the full purchase amount until it’s paid in full. It’s a fast and secure option that helps patients use the credit they already have, and even continue earning rewards.

For providers, setup is simple and doesn’t require complex onboarding. However, since the purchase ties up the patient’s available credit until the balance is cleared, and regular credit card APRs and minimum payments apply, it can easily cause ballooning debt when used for higher treatment costs.

Key Takeaways

• Application process: No new loan; no credit check; uses existing credit card.
  
• Loan amounts: Limited by the patient’s existing credit line.
  
• Terms: Equal monthly payments until the balance is paid in full.
  
• Interest & fees: Splitit itself doesn’t charge interest, but regular credit card APRs and issuer fees may apply.
  
• For providers: Simple to offer and easy for patients to understand; ties up available credit and may incur high APRs; not ideal for larger treatment plans; allows patients to earn cash back rewards with their current credit card.
  

FAQ: Practical Questions for Providers 

How are BNPL options different from traditional lenders?

​​Buy now, pay later services like Affirm and Cherry offer a streamlined user experience with instant approval decisions through a quick application and a soft credit check. On the other hand, traditional lenders require longer applications, full credit reviews (hard credit check), and detailed income verification.

BNPL financing typically covers smaller amounts with shorter terms, though healthcare-specific options like Cherry allow for purchases up to $50,000 and terms as long as 60 months. BNPL platforms are also more likely to offer interest-free plans or extended 0% APR for qualified borrowers. Traditional loans, by contrast, use hard credit checks, charge interest from day one, take days or weeks for approval, and tend to offer a greater range of financial services.

For practices, the difference is even clearer: BNPL partners pay the provider upfront and take on the payment risk, whereas banks and lenders fund the patient directly, leaving repayment management up to the borrower.

How will the application process affect my patients’ credit scores?

Most healthcare financing and BNPL providers use a soft credit check for initial prequalification, so applying won’t impact a patient’s credit score or show up with the credit bureaus.

Additionally, BNPL plans are typically reported as installment loans, which means they usually have a smaller impact on your credit score than carrying a high credit card balance. As long as you make your payments on time, BNPL can be a convenient and low-impact way to manage your purchases and help build credit.

If a patient accepts and finalizes financing through a longer-term plan, some partners (like CareCredit or PayPal Pay Later) may perform a hard credit check or report activity to help build credit history and creditworthiness.

What payment methods can patients use with BNPL apps like Affirm?

Patients can usually link a debit card, traditional credit card like Mastercard or Visa, or bank account during checkout. Some apps even support mobile wallet options like Apple Pay or virtual cards for online purchases or in-store transactions. Tools like Splitit rely on the patient’s existing credit card and line of credit to create equal installment payments without opening new credit.

How does deferred interest work?

Deferred interest plans can look appealing because they start with 0% APR for a limited time — but if the balance isn’t paid in full by the due date, or if a missed payment occurs, interest is charged retroactively from the purchase date. That can turn a no-interest offer into a high-cost loan. Cherry and some other BNPL options avoid deferred interest entirely, giving patients transparent pricing and clear repayment terms from day one.

Are practices responsible if the patient misses a payment?

No. Once a patient is approved and completes the application process, most BNPL companies fund the practice upfront and assume all payment risk. If a patient makes late payments or defaults, the financing partner — not the provider — handles collections and customer service. This helps small businesses and healthcare practices maintain cash flow without taking on credit exposure.

Can patients manage their payments themselves?

Yes. Most buy now, pay later companies offer an online dashboard or mobile app where patients can view payment terms, track balances, and even enable autopay to pay in equal installments. Depending on the provider, they can also update payment methods, set reminders for due dates, or view their spending limit in real time. This self-service model makes managing installment loans easy and reduces questions directed to your staff.

Do BNPL apps handle customer service, or do practices?

Many BNPL providers, like Cherry, manage all customer service, payment processing, and account inquiries directly with patients. Practices don’t need to handle missed payments, refunds, or service fees — those are managed through the provider’s own support team or mobile platform. This arrangement keeps practices focused on care, while the financing company handles billing functionality and compliance behind the scenes.

Conclusion

Affirm made buy now, pay later financing a household name, but like many of today’s popular BNPL companies — Klarna, Afterpay, Sezzle, Zip (formerly Quadpay), and Viabill — it was designed for retail, not for the realities of healthcare. Affirm alternatives for healthcare like Sunbit and CareCredit help patients manage costs in different ways, offering flexible timelines and varied approval criteria, but most come with higher merchant fees, deferred interest, or limited loan amounts that make them less effective for medical and dental practices.

For practices that need a financing partner built specifically for healthcare, Cherry offers the best balance of access and transparency. With a 60-second soft-credit-check application and instant approval decision, true 0% APR for qualified borrowers, the lowest merchant fees in the industry, and exclusive approvals that keep funding tied to your practice, it’s the BNPL solution designed to make treatment financing simple for both providers and patients. Find out how flexible payment solutions could transform your practice. Claim your complimentary Cherry demo here.