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This extension is in our Payment category. Please remember that it is the merchant’s responsibility to ensure the proper PCI compliance level of their store, as applicable by PCI regulations. The PCI Self-Assessment is one tool you can use when evaluating Payment extensions and how they may affect your PCI compliance level. For more information on Marketplace policies, please review the Marketplace Terms & Conditions.
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Snap Finance Checkout

This is an Integration with a Third Party Service. Other charges and fees may be required to use this extension on your Store
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Overview

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Snap Finance is a lease-to-own financing provider that empowers credit-challenged shoppers with the buying power to get what they need now, and then allows them to make affordable payments to pay over time. Snap was founded on the principle that financing should be accessible to everyone. It's easy to apply, and Snap's sophisticated algorithms don’t rely on FICO scores when considering an approval. Shoppers know in seconds if they've been approved.  

Snap also believes in complete transparency, so a shopper knows the cost of their lease up front, with no surprises or hidden costs. With Snap, shoppers have flexible payment options, from the standard full-term lease of 12 months to the 100-Day Payoff option, which provides a considerable reduction in overall cost.  

Snap Finance wants their Merchant Partners to thrive while supporting their customers.  In 2019, Snap drove $890M in merchant sales, with over 870K lease applications completed. Some merchants have seen up to an 80% approval rate.

Attract more customers and drive more sales for your business by offering a financing option to credit-challenged shoppers that would otherwise walk away empty-handed.   

The Snap Finance Checkout extension will be seamlessly embedded into your checkout flow as a payment option, where Snap handles the application approval, payment processing, and servicing of the lease.  

 

Account & Pricing 

To offer Snap Finance Checkout on your website, you will have to first fill out our inquiry form. You will go through a vetting process to get approved as a Snap Finance partner and have a merchant account created. The Snap Finance Checkout 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 

  • Snap Finance continues to drive merchant business. In 2019, Snap helped drive over $890M in sales for our merchants.
  • Merchants who use Snap see an approval rate of up to 80%.
  • Snap approves up to $5,000.
  • Snap merchants rated their experience with an average NPS of 84. 
  • Snap offers a 100-Day Payoff option that allows a shopper to pay off their lease in 100 days, paying a small processing fee in addition to their cost of goods.
  • Snap takes on the full responsibility of servicing the customer’s lease and mitigating fraud.

 

Security 

No PCI data will be transmitted between Magento Merchants and Snap Finance. 

The Snap Finance Checkout extension will be added as a payment type on your checkout page, allowing authorization and capture to be processed through Magento.  

When shoppers select Snap Finance as their financing source, they will be guided through a separate web experience hosted by Snap Finance using a popup modal, where they will go through an application process to get approved for a lease by Snap Finance to finance their purchase. Once lease application is approved and signed, shoppers will be taken back to the merchant checkout page to complete their purchase.  

Technical Specifications

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Seller profile

Snap Finance

Seller contact

E-mail

Integrator

Snap! Finance

Current Version

2.0.1

Adobe Commerce platform compatibility

Open Source (CE): 2.3 (current), 2.4 (current)

Type

Stable Build

Updated

28 June, 2022

Categories

Extensions, Payments & Security, Payment Integration

Documentation

User Guides

License Type

Open Software License 3.0 (OSL-3.0)

Policy

Privacy Policy

Quality Report

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Installation & Varnish Tests

Passed

Coding Standard

Passed

Plagiarism Check

Passed

Malware Check

Passed

Marketing Review

Passed

Manual Testing

Passed

All tests were conducted on the latest versions of Adobe Commerce that existed for the compatible release lines at the moment of the extension submission. Latest versions of all other software were used, as applicable.

Release Notes

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2.0.1:

  • Compatible with Open Source (CE) : 2.3 2.4
  • Stability: Stable Build
  • Description:

    2.0.1:
    Compatible with CE: 2.2.x, 2.3.x, 2.4.x
    Stability: Stable Build
    Description:
    - Resolved the issue was facing for Magento 2.4.3 version.

Support

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The best place to start if you need help with a specific extension is to contact the developer. All Adobe Commerce developers have both a contact email and a support email listed.

Contact Vendor

Q & A

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Reviews

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