Questions? We have answers

Explore the questions that are frequently asked, and learn how Cherry can help you meet your business goals.

What is Cherry?

Cherry is a payments company that offers your patients the ability to get your goods/services now and pay us over time. That means that you do not have to worry about patients paying you back, as we take on the risk after the sale has been completed. You get paid upfront.

Why use Cherry?

Cherry provides payment flexibility to your patients with a buy now/pay later arrangement. The extreme ease of use of our technology allows you to process transactions in under a minute. The combination of a consumer first approach and frictionless checkout process creates a powerful tool for you to increase your sales and better retain patients.

How does Cherry work?

The following requirements are needed to properly process a transaction with Cherry: 

 

Your Requirements

  1. A working mobile device that is able to connect to the internet 

Customer Requirements

  1. Patient who is at least 18 years of age
  2. Patient who has a valid U.S. State drivers license 
  3. Patient who has a valid bank issued debit card

If all of these requirements are met, the Cherry app is able to seamlessly process the application and transaction in under a minute. The process is outlined as follows:

 

  1. Enter the patient’s mobile phone number. A verification code will be sent to their phone. Enter that code into the application. 
  2. If the patient is not pre-qualified scan the back of their ID to begin the application process, and follow the steps on the screen to enter and verify the patient’s information.
  3. An approval decision is made. If a patient is approved, you’ll see their full approval amount.
  4. Patients then choose the payment plan that best fits their needs.
  5. Patients must provide a bank-issued debit card to process the required down payment.
  6. After a card is verified, patients can accept the payment plan contract and process payment.
  7. Patient receives goods/service and merchant receives net funds (merchant fee is charged per transaction.)

How are patients approved?

A soft credit check (this will not hurt a borrower’s credit score) is conducted on each application to determine approval amounts/contract type as well as verify a customer’s identity. Some patients will be given an opportunity to provide further information to be approved. The goal of this additional information is to allow us to verify their employment.

What are my responsibilities as a practice?

To deliver uncompromised goods and/or services to your patients in a timely manner. A timely manner is broadly defined as that same day unless another arrangement has been clearly agreed upon by the patient. If goods or services have not been rendered successfully, we will require you to refund the purchase. For all issues with specific orders and goods, Cherry will direct patients to handle these matters directly with the practice.

What are the reasons for patients being denied?

In order to protect patients’ information, we will never share individual denial reasons with practices. Reasons for denial can include too low of a credit score, no credit record, recent bankruptcies etc. If the patient has questions on why they were denied, please have them call us at (888) 839-7171.

How do patients make payments?

Down Payment: Patients can use a Debit Card or a Credit Card* to make their initial payment at time of checkout.

 

Future Payments: Patients can make monthly payments on their Cherry account via ACH electronic transfer from their checking account, Debit Card or Credit Card*.

 

*Note: Making payments via Credit Card will result in a 2.99% processing fee for the patient. There is no processing fee for making payments via ACH or Debit Card.

Do you conduct a credit check on patients?

We run a soft credit check on patients which allows us to see their current credit score but will not hurt their credit.

Are patients’ payments reported to credit bureaus?

Yes, Cherry may report the status of patients’ accounts to Equifax, one of the major credit bureaus.

How do I invoice payments?

We advise you to invoice transactions as you typically would. Instead of accepting cash, credit or other payment, simply use Cherry to fulfill the payment of the goods and/or service. Transaction amounts should be inclusive of any applicable sales tax or other fees associated with each transaction.

Am I responsible if patients don’t make payments?

You, as the practice, are not responsible for the repayment of your patients’ contracts. We take on the credit risk of every contract initiated through Cherry.

How are refunds handled?

Refunds can be initiated within the transaction tab of the Partner Portal by selecting on the dropdown of a completed transaction. Full refunds and partial refunds are available to choose from. Transactions that are older than 60 days are ineligible for refunds through the Cherry platform. To initiate a refund outside of the first 60 days, it is up to the practice to facilitate the refund directly with the patient.

 

Full Refunds: A full refund cancels the patient’s contract. Cherry reimburses the practice’s processing fees, and the patient receives a credit for any remaining balance owed.

 

Partial Refunds: A partial refund issues a partial credit to the patient, not to exceed the full remaining balance. Cherry prorate and reimburse the practice’s processing fees. Partial refunds can be performed multiple times and only up to the full remaining balance.

How do I get paid?

At setup, we will collect your bank account number and routing number so that we can electronically deposit funds into your account. After a transaction is successfully completed, we will transfer the full amount of the purchase less a merchant fee into your account via an ACH transfer. Payment should arrive in 1-2 business days.

When do I get paid?

After a patient is successfully approved and accepts the terms of the contract, we will initiate an ACH transfer to your account that day. Depending on your bank and when the transaction is completed, proceeds from the sale should arrive into your account no later than 2 business days after the transaction (if not sooner).

How can I market Cherry?

Cherry can be marketed as an alternative payment method for individuals that want the flexibility of enjoying a product/service now but who want/need to pay over time. By clearly outlining the details of repayment, your patients can better understand what they can afford. Cherry’s simple and fast approach makes it seamless for your patients to understand what payment options are available to them at the point of sale. We are happy to offer you insights on what’s worked for marketing Cherry at other practices, and can provide you with materials you can use to market Cherry to your patients.

How should I approach customers about using Cherry?

Cherry can be used for customers that want a product/service but don’t want to pay the full amount upfront today. This gives you, the business owner, the power to upsell and increase your sales. Cherry’s easily understood product makes it easy for borrowers to account for their purchases within their monthly budget.  

Contact Us

Email: [email protected]
Phone: (888) 839-7171

Support Hours

Monday through Friday 9AM – 9PM EST
Saturday 9AM – 7PM EST
Sunday 10AM – 3PM EST