> For the complete documentation index, see [llms.txt](https://docs.reachplatform.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.reachplatform.com/customizations-and-bolt-ons/bolt-ons-catalog/ecommerce/device-financing.md). # Device financing Device financing rules and customer journey (Terrace Finance; Klarna in progress). ### Overview Device financing enables customers to pay for devices in installments while completing the plan purchase separately. ### At a glance * Available only for eligible devices with a total device cost **≥ $200** * Supports split payment by product type: * **Plan charges** → card * **Device** → financing * Powered through a **financing partner** with a hosted approval experience * Available across **new and existing customer journeys**, including flows that may also include [trade-in](broken://spaces/sUFPSUngLZrTzBOau55s/pages/g2QTKeRP2mysmcRCqrDN) or [device protection](broken://spaces/sUFPSUngLZrTzBOau55s/pages/hVvLiPslXIeIc5azknB1) ### Where it appears * **Check out**, for eligible devices only * **Payment selection stage** Eligibility includes: * **Device price** * **Shipping** * **Applicable taxes** ### Entry conditions | Parameter | Rule | | ----------------- | ------------------------------------------------ | | Minimum value | **≥ $200** for device + shipping + tax | | Payment structure | Plan paid by card, device paid through financing | | Availability | Eligible SKUs only | | User types | New and existing users | ### Order-level payment method rules The platform supports split payment between the **plan** and the **device**. It does not support mixed payment methods across multiple devices in the same order. If a customer buys multiple devices in one order, all devices must use the same payment method: * **All financed**, or * **All purchased outright** Customers cannot finance some devices and pay upfront for others in the same order. This is the intended behavior. ### Financing experience
Within the hosted financing experience, the customer provides: * Email verification through **OTP** * **Address details** * **SSN** * **Occupation and income** The financing partner performs a **soft credit check** and presents available offers. The customer then completes: * **Initial payment** by card, if applicable * **Bank details** for installments * **E-sign agreement** If the customer abandons or fails this step, [eCommerce FAQs](https://app.gitbook.com/o/2XtQoIpiVHfmAWKrxU7r/s/fvZqt6UXDErrQK6xO6NN/general/ecommerce-joint-faq-plans-device-protection-and-financing) covers what happens to the plan charge and the rest of the order. ### Approval and order handling * **Order confirmation** occurs only after financing approval. * Once approved: * order moves to **processing** * order is visible in **My Orders** * financing is activated per **partner terms** If the same checkout also included [trade-in](broken://spaces/sUFPSUngLZrTzBOau55s/pages/g2QTKeRP2mysmcRCqrDN), trade-in credits still post on their own timeline after inspection. ### Return cancellation after financing approval If a financed device is returned within the allowed return window and the order is canceled: * **Reach** raises a cancellation request with **Terrace Finance**. * **Terrace Finance** cancels the financing offer. * If **Terrace Finance** already collected an initial payment, that payment is refunded directly to the customer. * **Reach** and the client brand do not manually refund financed installments, first EMI, or down payments. * Settlement corrections and deposit reconciliation are handled between **Reach** and **Terrace Finance** only. ### Money flow #### Outright purchase * Customer pays the **full amount by card**. * Payment flows through the **brand’s payment gateway**. * The platform settles with the **device supplier**. * **Margin and service fees** are handled per agreement. #### Financed purchase * The financing partner pays the **full device value upfront**. * The platform settles with the **device supplier**. * The customer repays the financing partner in **installments**. * **Margin and service fees** are handled per agreement. Protection fees are not rolled into financing. For that billing model, see [Device Protection Overview](broken://spaces/sUFPSUngLZrTzBOau55s/pages/hVvLiPslXIeIc5azknB1). ### Subsidy model Where device pricing is reduced: * Customer pays a **lower upfront amount** * **Subsidy difference** is funded separately * Subsidy is tracked **per order** and reconciled periodically **Example** * Device price: **$800** * Customer pays: **$600** * Subsidy: **$200**
### Ownership model Ownership remains with the **financing partner** during the repayment term. Ownership transfers to the customer only after: * **Full repayment** If early payoff is supported: * Ownership transfers **immediately after payoff settlement** ### Fulfillment and visibility * Device fulfillment follows the **standard order flow** after approval. * Orders are visible in: * **My Orders** * Agent tools in **Reach Central** For the wider multi-product order behavior after approval or decline, see [eCommerce FAQs](https://app.gitbook.com/o/2XtQoIpiVHfmAWKrxU7r/s/fvZqt6UXDErrQK6xO6NN/general/ecommerce-joint-faq-plans-device-protection-and-financing). ### Launch steps {% stepper %} {% step %} ### Submit your request Contact **Reach** and request **Terrace Finance** to be enabled for your device store. Reach will take it from there. {% endstep %} {% step %} ### Request forwarded to Terrace Finance Reach forwards the request to **Terrace Finance**. Terrace Finance processes the request and issues the credentials needed for the integration. {% endstep %} {% step %} ### Configuration Once the credentials are received, **Reach** completes the required configuration. No action is required from you at this stage. {% endstep %} {% step %} ### Testing Once configuration is complete, **Reach** shares the store link with you. You can then test the **Terrace Finance** option before go-live. Check the following: * The **Terrace Finance** option is visible on the store * The finance journey works end to end * Any issues are raised with **Reach** before launch {% endstep %} {% step %} ### Go live Once you confirm testing is successful, the store goes live with **Terrace Finance** enabled. No extra setup, marketing, or communication steps are required. The integration is already built into the platform and becomes immediately available to customers. {% endstep %} {% endstepper %} {% hint style="info" %} **Also read** * For trade-in credits on the same order, see [Trade-in](broken://spaces/sUFPSUngLZrTzBOau55s/pages/g2QTKeRP2mysmcRCqrDN). * For protection enrollment during financed checkout, see [Device Protection Overview](broken://spaces/sUFPSUngLZrTzBOau55s/pages/hVvLiPslXIeIc5azknB1). * For plan-charge handling after a decline or abandoned application, see [eCommerce FAQs](https://app.gitbook.com/o/2XtQoIpiVHfmAWKrxU7r/s/fvZqt6UXDErrQK6xO6NN/general/ecommerce-joint-faq-plans-device-protection-and-financing). * For settlement, fulfillment, and partner roles across the store, see [eCommerce](broken://spaces/sUFPSUngLZrTzBOau55s/pages/f9PtbXs7Sfoovaf2JLbg). {% endhint %} {% hint style="info" %} Questions or clarification? Reach out to your respective account manager or email us at for help and support. {% endhint %} --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.reachplatform.com/customizations-and-bolt-ons/bolt-ons-catalog/ecommerce/device-financing.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.