How does Cherry Payment Plans compare with PatientFi?
✅ Lowest merchant processing fees in the industry, without relying on rebates or required minimums. Beats PatientFi's 3.5% rebate.
❌ Rebate is only on the fees, not the transaction amount
PatientFi's rebate is only on 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, beating any rebates.
✅ More patients approved for higher amounts (up to $50,000)
✅ 80%+ approval rate
❌ Approves a narrower range of credit profiles
❌ ~40% approval rate
Being able to approve more patients - and for higher amounts - means more revenue for your practice.
✅ True 0% APR
✅ No hidden fees such as deferred, retroactive or compounding interest.
❌ Deferred interest
Deferred interest means 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.
✅ Does not sell your data
❌ Sells your data to credit unions
Borrowers receive unsolicited phone calls from credit unions. Who likes telemarketing?
