Koalafi

With Koalafi, you can offer your customers the ability to pay for their purchases over time. Koalafi has one simple financing application for customers who have excellent to no credit. 

Customers can apply for a Koalafi lease or loan before shopping to help guide their purchase selections, or they can choose Koalafi at checkout.

If a customer qualifies for financing, Koalafi offers the best-fit pay over time product based on their background. We take into account much more than credit score, giving customers a high chance of approval. 

Simply put, Koalafi unlocks more potential customers for you. 

As a Merchant Partner, you can work with Koalafi to modify the specific types of financial products you wish to offer based on your target customer and business goals.

The Koalafi extension for Magento will be embedded into your checkout flow as a payment option, where we handle the application , payment processing, and servicing of the loan or lease.  

Account & Pricing

To allow customers to checkout with Koalafi, you must have an existing partnership with Koalafi. If you do not already partner with Koalafi, please get in touch with us using this form. The Koalafi plug-in is free to download and install, but transaction fees on customer orders may apply and will vary from merchant to merchant based on merchant type and level of partnership.   

Features

• Koalafi provides pay-over-time payment options that drive larger baskets and increase conversions
• Koalafi offers simple application process for customers across the credit spectrum
• Koalafi offers a holistic range of financing products, with approvals up to $10,000 for loans and $7,500 for leases
• Koalafi offers customer-friendly options like deferred interest loans and early purchase options
• Koalafi pays you upon shipment, and takes on risk of fraud and defaults
• It’s free to get started with no subscription fees
• Koalafi merchant partners have a +74 Net Promoter Score, in the 90th percentile of tech and lending companies (Source: Delighted credit card and software industry benchmarks as of January 2022)

Security

No PCI data will be transmitted between Magento Merchants and Koalafi.

SAQ level is A-EP.

This extension does not impact the customer data being stored on the Magento server. No customer data from this extension is stored on the Magento Server.

The Koalafi extension will be added as a payment type on your checkout page. When a customer chooses Koalafi as their payment method, they will apply for financing through Koalafi’s UI in a pop-up modal. Once they are approved and accept the terms of their loan or lease, they will return to the checkout page to complete their purchase.