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 Payment 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.
- 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 Cash 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.
No PCI data will be transmitted between WooCommerce 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 WooCommerce.
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.
- Login to WordPress Admin panel and go to Add New Plugin.
- Then click on Upload Plugin.
- Select the downloaded zip and click Install Now.
- Click to Activate Plugin
- Pull the code from the repository and upload the contents to a folder in your ‘/wp-content/plugins’ directory.
- Login to WordPress admin and go to Plugins.
- Find the Snap Finance Checkout plugin and click Activate.
- Proceed to Plugin Configuration
1. Login to WordPress admin and open WooCommerce Settings.
2. Click on payment tab and then on ‘Snap Finance’ plugin.
3. Enable ‘Snap Finance Checkout’ plugin toggle.
4. Click on ‘Snap Finance Checkout’ plugin.
- Enable/Disable – Tick to enable the module.
- Environment: Select the environment for plugin whether it is sandbox or live (production). You need to enter
Client ID and Secret Key according to selected environment.
- Client ID – Enter Client ID which you will receive from your developer account at https://developer.snapfinance.com/api-key/
- Client Secret Key – Enter Client Secret Key which you will receive from your developer account at https://developer.snapfinance.com/api-key/
Now click save and customer will see the Snap Finance Checkout option during the checkout process.
- Now click save and customer will see the Snap Finance Checkout option during the checkout process.
- Upon completion of financing, the customer will return and the order will be processing in WooCommerce >> Orders.
ORDER COMPLETE CALLBACK
- You must complete the order from WooCommerce >> Orders so that Snap Finance is informed of the changed status.
- This process will finalize the status for order with Snap Finance.
How do I apply for a developer account?
Snap deveoper program for now is open for exisitng merchants who wants to offer financing to their cusotmers at the time of checkout.
If you are an existing merchant please ask your sales reps to enable your account for ecomerce and then email email@example.com with your account details and we will set up your developer account for testing in sandbox and send you the detail.If you are not an existing merchant please fill this applicaton https://snapfinance.com/partner to be onboarded as merchant.
How to get client id and client secret key ?
You need to login or signup to https://developer.snapfinance.com/ to generate client id and secret key.
How Merchant will check for Loan Application status ?
Merchant has to login to https://merchant.snapfinance.com/ to know loan application status.
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Contributors & Developers
“Snap Finance” is open source software. The following people have contributed to this plugin.Contributors
Added error handling in API response
Changes in JS inherited from Snap SDK.
Minor bug fixes.
Updated error handling condition which checks if woocommerce is installed or not.
Update Steps for checkout.
Added validation to check token is generated before checkout or not
Minor bug fixes
Removed Checkout button settings
Changes in the logic for API calls made to snap server
Tested Plugin with wordpress 5.4 and Woocommerce 4
Changed Array function that was reading payment method from checkout page
Update Order status message on Order Details Page after checkout.
Updated Checkout Flow for better user experience
Checout Button and Option selection from snap directory
Enabled Tracking facility for disabled plugin
Updated order status messages
Updated plugin code to store banner url in DB at the time of update
Removed Dynamic button on checkout page
Updated plugin description
Changed Description of plugin
Changed message for order denied
Updated Code to check “/” in intermediate order transaction page.
Removed word “Lease” from order messages
Fixed Empty cart issue after order denied.
Updated STBS State Flow.
Updated Production URL for token Generation.
Added Shipping Method in Invoice of Snap App.
Cancel Order API.
Replace Place order API with capture API adding a new meta filed in snap orders for the delivery date and shipping details, Integrating Shipping API.
Provide Facility of Logs in the plugin.
Added two new variables in the transaction array (Tax and Discount).
Added a config File for the constant variable.
Changed hooks for paypal conflict
Updated support email
Updated api call to check order status
Updated Support Email
Added support for Checkout Extra Fee
Fix for handling checkout without extra fee
Added linting and formatting code
Fix for keeping the cart as it is in case Snap Application is not approved
The Snap finance applicationId is not on the WooCommerce order, then the order status will be updated to “Cancelled”.
Merchant is not allowed to update order status from Admin panel.
if pending payment status is for more than 15 mins it should move to status = cancelled
Snap Notice message should be displayed only if the payment processor is Snap Finance.
Snap Notice message update to: Snap classifies an order as complete once the expected delivery date has been added. However, if the applicationId is not displayed below, the order must be canceled, and the items should not be delivered.
Revert to version 2.1.3
Incorrect Stable Tag fix
Out of Date plugin version fix
Sanitized, Escaped, and Validated for request data fixes
Unsafe SQL calls fixes
Nonces and User Permissions Needed for Security fixes
Variables and options must be escaped fixes
Offline Credit Card plugin conflict fix
Updated plugin code for latest wordpress and woocommerce version.