MagWitch to Lumino

When it triggers

This plan is the second line of contingency. It runs the moment MagWitch cannot serve a merchant, so funding never stops.

• MagWitch cannot onboard the merchant, or onboarding has stalled past our SLA.
• MagWitch cannot approve the volume or profile the merchant needs.
• Any time we need point-of-sale finance live fast, without waiting on a longer underwriting path.

Invisible to the merchant

The whole point is that the merchant keeps running their business. The switch happens behind the scenes and lands as more capability, not a problem.

• No disruption to day-to-day. The merchant keeps taking sales while we move them across.
• Framed as an upgrade. They are getting Affirm at their checkout and a payment processor, not being told something failed.
• One simple path. Two forms and a document upload, then we drive the rest with Lumino.
• Fast. Generally live within 24 hours of the documents being in.

Who runs it

Clear ownership on both sides, internal and at Lumino.

Internal

At Lumino

What Lumino is

Lumino is a payment processor at heart, with point-of-sale finance built on top. That dual nature is the whole advantage: the merchant gets financing and a better processing option in one move.

Moving the merchant, step by step

Two forms, a document upload, and a short turnaround. This is the entire merchant-facing path.

1. The merchant completes the sign-up formapp.lumino.io/auth/sign-upThe merchant fills in the Lumino sign-up form to create their account.
2. They complete the onboarding form on the next pageKYC, multiple stepsThe next page is the Lumino onboarding form, a KYC with several steps. The merchant works through it.
3. They upload the required documentsPart of the KYCThe merchant must upload the necessary documents to complete verification.
4. Lumino turns it around, generally within 24 hoursQuick turnaround once docs are inWith the documents in, Lumino usually configures the account inside 24 hours.
5. The account is live and configuredFully accessible through LuminoThe merchant now has point-of-sale finance at their checkout, Affirm, Klarna and Clarity Pay, with Affirm as the primary rail.

Affirm, the primary rail

For most merchants Affirm does the heavy lifting. Instant decisions at the point of sale, a clean ticket range, and fast funding.

• Decision at the point of sale. The customer applies and gets an outcome straight away.
• Send checkouts. The merchant can send a checkout and get an outcome immediately.
• Prime and near-prime. Affirm is a prime and near-prime lender, so the qualifying customer profile mirrors the Eaze profile in the next section.
• Funding. The merchant receives funds from Affirm 72 hours after the sale.

The client profile

Affirm is prime and near-prime, so the customer who tends to approve has solid financials. Lead with these numbers, this is the profile the merchant should be sending, and the same profile applies to Eaze.

The financial profile that qualifies

• Income. Ideally $40,000 a year and above.
• Credit score. 650 and above.
• Debt-to-income. Low. The less existing debt relative to income, the stronger the file.
• Tier. Prime and near-prime. The stronger the profile, the better the terms and the higher the approved amount.

What the customer brings

Secondary to the financials above. The documents a qualifying customer should have ready for their file.

Using Lumino day to day

Once the account is live, it is genuinely simple. The merchant logs in and has two ways to get a customer financed or paid.

1. Login details arrive by emailSent to the merchantLumino emails the merchant their login details once the account is configured.
2. The merchant logs into their accountThe Lumino dashboardThey log into their merchant account. The dashboard is user friendly.
3. Option A, send a direct finance linkFrom the dashboardThe merchant sends the customer a direct finance link straight from the dashboard.
4. Option B, send a payment linkProcess or financeThe merchant sends a payment link and processes through Lumino, either taking the payment at checkout or financing it.
5. At checkout, finance shows as an optionAffirm in-liner + Clarity PayIf they finance, the Affirm in-liner appears as an option and Clarity Pay appears at the bottom of the checkout.

The payment-processing upside

Lumino is a payment processor at heart with point-of-sale finance on top. When we move a merchant for finance, we also offer them better processing.

• Offer it on the move. When a merchant comes across for the contingency, tell them they can also process payments through Lumino for a better rate.
• Volume-based rates. Pricing is volume-based and generally very competitive, similar to Stripe if not better for most merchants.
• One relationship. Finance and processing in the same place, less for the merchant to manage.

The move checklist & SLA

Run every move against this. Owner on each step, and the merchant never feels a gap.

Who to contact

Every contact for a Lumino move, internal and external, in one place.