Cherry vs Affirm

Cherry

PatientFi

Why This Matters

Practice Fees

Lowest merchant processing fees in the industry, without relying on rebates or required minimums

Rebate is only for the fees, not the transaction amount

PatientFi's rebate is only for the fees, not the transaction amount, which means the rebate is much smaller than it sounds. Cherry's low rate is transparent and guaranteed upfront.

Approvals

More patients approved for higher amounts (up to $50,000), with approvals exclusive to your practice

Approvals a narrower range of credit profiles

Being able to approve more patients - and for higher amounts - means more revenue for your practice.

0% APR

True 0% APR.

No hidden fees such as deferred, retroactive or compounding interest.

Deferred interest

Deferred interest means that if the borrower is late or missed a single payment during the 0% promotional period, interest is retroactively charged from the start of the loan. The Consumer Financial Protection Bureau considers deferred interest to be predatory and anti-consumer.

User Data

Does not sell your data

Sells your data to credit unions

Borrowers receive unsolicated phone calls from credit unions. Who likes telemarketing?

Cherry

Affirm

Why This Matters

Practice Fees

✅ Practices can save 50% or more on merchant fees after switching to Cherry. Fees start at 1.70% per transaction.

❌ Typically 5.99% + $0.30 per transaction, varies by business type and size

Lower merchant fees mean you keep more profit on every transaction.

Approval Amount

✅ Up to $50,000

❌ Up to $17,500

Higher approval amounts mean clients can afford more services with you.

Loan Terms

✅ 6 weeks or 3 - 60 months

❌ 6 weeks to 36 months

Offering clients a wider selection of payment plan options makes it easier for them to find one that works for their budget and move forward with treatment.

Specialty

✅ Patient financing, designed for health and wellness providers

❌ Focuses on e-commerce, across a variety of business types

Using a platform (like Cherry) tailored to your industry results in a better user experience for you and your clients.

Cherry

Affirm

Why This Matters

Practice Fees

✅ Practices can save 50% or more on merchant fees after switching to Cherry. Fees start at 1.90% per transaction.

❌ Typically 5.99% + $0.30 per transaction, varies by business type and size

Lower merchant fees mean you keep more profit on every transaction.

Approval Amount

✅ Up to $50,000

❌ Up to $17,500

❌ 6 weeks to 36 months

Higher approval amounts mean clients can afford more services with you.

Loan Terms

✅ 6 weeks or 3 - 60 months

Offering clients a wider selection of payment plan options makes it easier for them to find one that works for their budget and move forward with treatment.

Specialty

✅ Patient financing, designed for health and wellness providers

❌ Focuses on e-commerce, across a variety of business types

Using a platform (like Cherry) tailored to your industry results in a better user experience for you and your clients.

Practice Fees

Cherry

✅ Practices can save 50% or more on merchant fees after switching to Cherry. Fees start at 1.90% per transaction.

Affirm

❌ Typically 5.99% + $0.30 per transaction, varies by business type and size

Why This Matters

Lower merchant fees mean you keep more profit on every transaction.

Approval Amount

Cherry

✅ Up to $50,000

Affirm

❌ Up to $17,500

Why This Matters

Higher approval amounts mean clients can afford more services with you.

Loan Terms

Cherry

✅ 6 weeks or 3 - 60 months

Affirm

❌ 6 weeks to 36 months

Why This Matters

Offering clients a wider selection of payment plan options makes it easier for them to find one that works for their budget and move forward with treatment.

Specialty

Cherry

✅ Patient financing, designed for health and wellness providers

Affirm

❌ Focuses on e-commerce, across a variety of business types

Why This Matters

Using a platform (like Cherry) tailored to your industry results in a better user experience for you and your clients.