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Merchants oftentimes send checks to Affirm for payment on their invoices, affiliate agreements, and revenue share. The eLockbox feature grants merchants a faster and more secure way to send those payments to Affirm.
Electronic Lockbox Service & Benefits
The eLockbox digital service replaces (or supplements) traditional paper checks with electronic forms of payment, in which you and your customers will be able to use Debit/Credit cards, ACH payment and electronic checks. Basically, the digital Lockbox replaces the physical address of traditional lockboxes with a digital web address.
Even though traditional lockboxes still work as a great safe holding location for B2B payments, the digital service improves upon that experience with these additional benefits:
- Security improvement - your payment will not get lost or get sent to the wrong location
- Efficiency improvement - no intermediaries and handlers are involved
- Speed improvement - payments are instant
- Accepts different payment types (Electronic Checks, ACH, Debit and Credit Cards)
Check more details on how this E-Lockbox service works with Wells Fargo bank on this link.
E-Box Addresses
This new payment feature will be available for merchants as well as customers from Affirm. The following addresses can be used for either merchant or customer payments accordingly.
Merchant Address:
Affirm Inc - Merchant (Input Your Company Name)
PO Box 201211
Dallas, TX 75320-1211
Customer address:
Affirm Inc - Customer
PO Box 201209
Dallas, TX 75320-1209