Afterpay changed how consumers pay for everyday purchases, becoming a fixture at retailers like Target, Ulta, Walmart, and Amazon. With just a few taps at checkout, shoppers can divide their total into four interest-free payments — no hidden fees and no hassle.

By 2024, buy now, pay later apps (BNPL apps) like Afterpay and Klarna accounted for nearly 5% of total e-commerce transactions worldwide. But while this model works well for retail, it doesn’t translate perfectly to healthcare — where purchase amounts are higher, repayment timelines longer, and patients need access to more flexible payment options.

For practices, offering BNPL services can improve treatment acceptance, patient satisfaction, and cash flow — but only when the financing partner is built for healthcare, not retail. Here’s a look at the best apps like Afterpay for healthcare financing, including Cherry, Affirm, Sunbit, Klarna, PayPal Pay Later, Splitit, and CareCredit.

Cherry Payment Plans

Cherry is a healthcare-focused BNPL platform designed for medical, dental, aesthetic, veterinary, and wellness practices. Patients can apply in under a minute with a soft credit check (which does not hurt credit score) and receive an instant approval decision. If approved, borrowers can choose between a short-term Pay in 4 plan or extended financing options up to 60 months.

Loan amounts go up to $50,000 — far higher than typical BNPL apps — making Cherry suitable for larger treatment plans in plastic surgery, orthodontics, or dermatology. Qualified borrowers can access true 0% APR with no hidden fees, deferred interest, or prepayment penalties.

For providers, Cherry delivers upfront payments, high approval rates across credit profiles, and the lowest merchant fees in the industry. Integrating seamlessly into in-office workflows, it helps practices improve conversion rates while keeping the process simple and user-friendly for patients.

Key Takeaways

• Application process: 60-second soft credit check with instant approval decision.
  
• Loan amounts: Up to $50,000.
  
• Terms: Pay in 4 biweekly interest-free installments or extended plans up to 60 months.
  
• Interest & fees: True 0% APR options for qualified borrowers; no origination fees, no hidden fees such as deferred, retroactive, or compounding interest; no prepayment penalties; down payment required at checkout.
  
• For providers: 80%+ approval rates across credit profiles; lowest merchant fees in the industry; exclusive approvals; partnerships across 50,000+ healthcare practices; dedicated customer support.

Affirm

Affirm helped define modern BNPL financing with its flexible payment terms and transparent pricing. Patients can pay in four interest-free installments or choose longer monthly payment plans, typically up to 36 months depending on credit approval. The application process involves a soft credit check, and decisions are made instantly at checkout.

Affirm’s standard APRs range from 0% to 36%, depending on the borrower’s credit profile and the purchase price. It does not charge late fees, prepayment penalties, or origination fees — part of its appeal to consumers seeking predictable costs.

However, Affirm’s loan limits are generally lower than healthcare-specific options, and its payment structures are built for retail and online shopping, not for managing higher medical expenses or long-term care financing.

Key Takeaways

• Application process: Instant approval decision via soft credit check.
  
• Loan amounts: Varies by merchant; smaller limits for medical use.
  
• Terms: Pay-in-4 or fixed monthly installments (3–36 months).
  
• Interest & fees: APRs range from 0% to ~36%; no hidden fees, late fees, or prepayment penalties.
  
• For providers: Popular BNPL option at online stores; optimized for e-commerce platforms like Shopify, not healthcare or larger procedures.
  

Sunbit

Sunbit is another BNPL platform sometimes used in healthcare, including dental and vision practices. The application process is quick, uses a soft credit check, and offers patients an instant decision.

If approved, borrowers can choose repayment plans from 3 to 72 months, with loan amounts up to $20,000. Some promotional offers feature 0% interest, though these are deferred-interest programs — meaning if the balance isn’t paid off by the end of the promotional period, or if a single payment is missed during that time, interest is charged retroactively from the purchase date. Standard APRs go up to 35.99% depending on creditworthiness.

For providers, Sunbit offers straightforward integrations and fast funding. However, its higher merchant fees, deferred-interest terms, and smaller loan limits make it less flexible for large purchases in healthcare.

Key Takeaways

• Application process: Short online form with soft credit check and instant decision.
  
• Loan amounts: Up to $20,000.
  
• Terms: 3 to 72 months.
  
• Interest & fees: APRs from 0%–35.99%; deferred-interest 0% promos available; no origination, late, or prepayment fees per company materials.
  
• For providers: Quick setup and funding but higher fees and limited flexibility for large procedures.

Klarna

Klarna is one of the most recognized BNPL brands globally, offering both short-term interest-free options and longer-term financing. Its Pay in 4 and Pay in 30 plans use soft credit checks, while monthly financing requires a full credit review.

Short-term plans typically carry 0% APR, while extended financing options can reach up to 29.99%. Klarna also applies late fees and insufficient-funds fees for missed payments. It doesn’t charge origination or annual fees, but healthcare practices may find its lower loan amounts limiting.

For retail or online purchases, Klarna’s app is convenient and easy to use. In healthcare, however, it lacks high loan limits and flexibility.

Key Takeaways

• Application process: Soft credit check for Pay in 4; hard credit check for longer financing.
  
• Loan amounts: Best for smaller purchases.
  
• Terms: Pay in 4, Pay in 30, or extended monthly plans through WebBank.
  
• Interest & fees: 0% APR on short-term plans; up to ~29.99% APR on long-term financing; fees for late payments may apply; no origination fees.
  
• For providers: Simple point-of-sale (POS) integration; popular with thousands of retailers and small businesses; large customer base; small loan amounts; lack of flexibility for healthcare.
  

PayPal Pay Later (Pay in 4 & Pay Monthly)

PayPal’s BNPL options extend its familiar digital wallet into installment financing, offering both short-term and monthly repayment plans. Pay in 4 divides purchases into four equal, interest-free payments over six weeks, while Pay Monthly allows loans up to $10,000 with fixed terms ranging from three to 24 months.

Applications are quick — Pay in 4 uses a soft credit check, while Pay Monthly requires a full credit review. Pay in 4 always carries 0% APR, and Pay Monthly’s APR varies by borrower. For patients, there are no origination fees or upfront charges, though late or collection fees may apply if a payment is missed. On the provider side, PayPal charges transaction fees (around 4.99% + $0.49 per purchase), which can impact profitability for higher-value treatments.

PayPal Pay Later is best for online or telehealth purchases, but its lower limits and higher processing fees make it less practical for in-office treatments.

Key Takeaways

• Application process: Soft credit check for Pay in 4; full credit review for Pay Monthly.
  
• Loan amounts: Up to $1,500 (Pay in 4) or $10,000 (Pay Monthly).
  
• Terms: 6-week Pay-in-4 or 3–24-month Pay Monthly plans.
  
• Interest & fees: 0% APR for Pay-in-4; variable APR for Pay Monthly; merchant fees around 4.99% + $0.49; possible late or collection fees.
  
• For providers: Trusted for online use; limited flexibility for high-value procedures.
  

Splitit

Splitit lets patients use their existing credit cards to break up treatment costs into equal monthly installments without taking on new debt. There’s no credit check or new account — Splitit simply holds the total purchase amount on the card and releases portions as installment payments are made.

Splitit doesn’t charge interest, late fees, or origination fees, but if patients carry a balance, their credit card’s regular APR will apply. It’s an easy, no-friction way for patients to manage smaller balances while continuing to earn cash back and rewards.

For practices, Splitit is easy to implement and works with standard credit card systems. Still, because it depends on patients’ available credit, it isn’t ideal for larger procedures or higher-cost treatments.

Key Takeaways

• Application process: No new loan or credit check; uses existing credit card.
  
• Loan amounts: Limited by available credit line.
  
• Terms: Equal monthly installment payments until balance is paid in full.
  
• Interest & fees: Splitit charges no interest, origination, or late fees; standard credit card APRs may apply if balance carries over.
  
• For providers: Simple and secure; best for smaller procedures.

CareCredit

CareCredit is one of the most established names in patient financing, functioning as a medical credit card with promotional and standard-rate plans. Patients can apply through a standard credit card application, which includes a full credit check and instant decision.

Credit lines can go up to $25,000, and the card can be reused for future treatments. Promotional “No Interest if Paid in Full” offers provide flexibility, but they can become costly if a payment is missed or a balance remains at the end of the period — triggering retroactive interest charged from the purchase date. Standard APRs can reach up to 32.99%, and late fees may apply.

CareCredit’s broad acceptance across medical, dental, and aesthetic practices makes it convenient for returning patients. However, its deferred-interest model and high merchant fees often reduce transparency and profitability.

Key Takeaways

• Application process: Full credit check (hard inquiry) with quick approval.
  
• Loan amounts: $25,000 credit limit.
  
• Terms: Revolving credit with promotional and extended plans.
  
• Interest & fees: Deferred-interest promotions available; standard APR up to ~32.99%; late fees apply; no origination or prepayment penalties.
  
• For providers: Widely accepted; high merchant fees; deferred interest fees can erode patient trust; hard credit check will harm patients’ credit reports.

FAQ For Providers

How does the application process affect patients’ credit scores?

Most buy now, pay later apps use a soft credit check during the application process, pulling limited information from credit bureaus in a way that doesn’t impact a patient’s score. This makes it easy for patients to check eligibility without risk. In some cases, longer-term financing options may involve a hard credit inquiry. Cherry never uses a hard credit check during the application process, so patients can apply confidently without hurting their score.

What is the minimum credit score needed for third-party financing?

Most BNPL providers do not set a specific minimum credit score. Approval decisions are based on multiple factors, such as repayment history, affordability, and other real-time data. Because BNPL platforms use modern financial technology to assess eligibility, patients with a wide range of credit profiles can often qualify for financing. Cherry’s model helps expand accessibility by considering more than just credit history alone, making it possible to approve more than 80% of borrowers across all credit profiles.

How long will it take for patients to get their loan?

Once approved, patients can typically access their loan funds for financing immediately. Most BNPL companies issue payment authorization in real time, allowing patients to purchase items or services at checkout within minutes of completing the application. Cherry, for instance, pays the practice upfront once the patient uses the loan, so treatment can begin right away without waiting for external funding. This structure ensures immediate access for patients and fast payment to providers.

Is it easy for patients to manage payments?

Yes. Most BNPL platforms offer a secure mobile app or online dashboard that lets patients manage their installment plans. Many of these apps feature intuitive functionality on both iOS and Android devices, allowing patients to set up autopay reminders, make online payments, update their payment methods, track due dates, and monitor spending limits all in one place. This user-friendly design makes it easy to stay organized and avoid missed payments or late fees.

What payment methods can borrowers use with third-party BNPL providers?

Most BNPL providers support a range of payment methods, making it easy for patients to repay their installment plans in whatever way works best for them. Borrowers can usually link a debit card, a traditional credit card like Visa or Mastercard, or a bank account for automatic payments. Many platforms also accept digital wallets such as Apple Pay, Google Pay, or PayPal, and some issue a virtual card for in-store or online use. This flexibility makes buy now, pay later services convenient and accessible across multiple payment channels.

What’s the difference between true 0% APR and deferred interest?

A true 0% APR means there are no interest charges for the full duration of the repayment plan — even if patients take longer to pay off their balance. Cherry offers true 0% APR options with no deferred interest for qualified borrowers.

Promotional 0% offers that rely on deferred interest are set periods where interest accrues retroactively from the purchase date if the balance isn’t paid by the end of the promotional period, or if a payment is missed during that time. This approach can lead to surprise interest charges and ballooning debt.

How are BNPL services different from traditional lenders?

Buy now pay later options represent a newer wave of fintech built around speed, transparency, and accessibility. They prioritize ease of use, instant approval decisions, and soft credit checks, giving patients flexible ways to split payments without the stress of a lengthy loan process. Many also provide interest-free financing and avoid common costs like origination fees or prepayment penalties.

By contrast, traditional lenders rely on full credit checks, detailed applications, and longer funding timelines — often with added fees. BNPL financing streamlines this experience, offering a faster, more patient-friendly alternative that helps practices expand access to care while maintaining reliable cash flow.

Why should we offer financing at our practice?

Offering flexible financing options helps reduce financial barriers by allowing patients to pay over time for life-changing treatment. Practices that use BNPL see higher conversion rates, better cash flow, and improved patient satisfaction.

By partnering with a healthcare-focused financing platform, providers can offer affordable payment solutions, maintain predictable revenue, and eliminate administrative hassle as well as risk.

Does our practice take on risk if the borrower can’t pay?

No. Once a patient is approved, the BNPL provider assumes all responsibility for repayment and collections. The practice receives payment upfront and is not liable for missed payments, defaults, or chargebacks. This protects your revenue while allowing patients to manage their repayment plans directly with the financing company.

Who handles customer service?

The BNPL company manages all customer service and payment processing for approved loans. If patients have questions about payment dates, loan amounts, or transaction fees, they contact the provider directly — not your office staff. This setup keeps your team focused on patient care while the financing partner handles billing, refunds, and payment schedules through its mobile app or support center.

Conclusion

Afterpay helped make buy now, pay later companies mainstream, giving consumers an easy way to split purchases into smaller, equal installments without interest. But like many of today’s popular retail-focused BNPL apps — including Klarna, Affirm, Sezzle, Zip (formerly Quadpay), and PayPal Pay Later — its structure was built for e-commerce, not healthcare. These platforms work well for short-term, lower-cost purchases but often fall short when it comes to larger purchases, flexible repayment timelines, or credit approval eligibility.

On the other hand, Afterpay alternatives focused on healthcare —  such as Sunbit and CareCredit — offer financing designed specifically for medical, dental, and aesthetic treatments. While they improve access to care, these programs can come with higher processing fees, deferred interest, or limited loan amounts, making them less transparent or more expensive for patients and practices alike.

That’s where Cherry stands apart. As a healthcare-specific BNPL platform, Cherry combines a 60-second application with a soft credit check, true 0% APR for qualified borrowers, the lowest merchant fees in the industry, exclusive approvals, high loan amounts, and flexible terms that help patients get the care they need while ensuring upfront payment and reliable cash flow to providers. Built on modern financial technology, it delivers the transparency, accessibility, and ease of use that neither traditional lenders nor retail BNPL apps can match.

For practices seeking to offer affordable financing options without hidden fees, deferred interest, or complex payment processing, Cherry is the clear choice — helping patients make confident financial decisions while maintaining predictable revenue for providers. Find out how flexible payment plans could help your practice grow. Claim your complimentary demo here.