Cherry is a payment plans company that offers your patients the ability to get the services they want 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.
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.
A soft credit check (this will not hurt a borrower’s credit score) is conducted on each application to determine approval amounts as well as verify a patient’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 approve as many patients as possible.
To deliver uncompromised 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 services have not been rendered successfully, we will require you to refund the purchase. For all issues with specific transactions, Cherry will direct patients to handle these matters directly with the practice.
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.
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 service(s). Transaction amounts should be inclusive of any applicable sales tax associated with each transaction.
Refunds can be initiated within the transaction tab of the Practice 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.
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 practice fee) into your account via an ACH transfer.
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.
Cherry can be used for patients 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 increase your sales. Cherry’s easily understood product makes it easy for patients to account for their purchases within their monthly budget.