Trade customers can apply for an iwocaPay Spending Limit online
All they need to do is sign up for an iwocaPay account with a few basic details about them and their business.
We’ll run a soft credit check and assess them for a spending limit up to £30,000 to use the next time they make a purchase with you. There's no cost to them or to you for applying for a Spending Limit with us.
You can send them to our website to sign up or share your custom signup link with them (you can find it in your iwocaPay dashboard).
One of the biggest benefits of offering your customers Spending Limits is being able to show them their increased purchasing power before they get to the checkout.
Here are some great places to add your link to Spending Limits:
Banners on your website and sales materials
Part of your new customer onboarding processes
As part of promotional emails to your existing customers
To make things even easier we’ve included some templates and assets in your launch pack that’ll help you do just that here.
Please note - you can't apply for a Spending Limit on your customers behalf, they'll need to do it themselves.
Can I see which trade customers sign up for an iwocaPay account?
Yes - if your customers signs up using your sign up link. They’ll appear in your iwocaPay dashboard in the “Customers” page and their statuses.
If they sign up on the iwocaPay website you won’t be able to see them here.
How do customers use their Spending Limit?
Once they’ve got their Spending Limit they’ll be able to checkout and choose to Pay Later with iwocaPay as normal. Instead of asking them to sign up, they’ll be automatically logged into their iwocaPay account and their Spending Limit.
If your customer makes a purchase without using Pay Later with us, it won't use their available Spending Limit.
What’s the maximum amount they can get?
The maximum amount we offer is £30,000. Once they make payments to us, their Spending Limit can be topped up by the same amount.
They’ll always be able to keep track of their spending limit in their iwocaPay dashboard and see how much they have left to use.
How long is their Spending Limit available for?
Their approved Spending Limit is valid for 30 days.
You might see their Spending Limit amount change within 30 days based on the purchases they make using iwocaPay and the any payments they make to us.
After that, if they go to make a purchase using iwocaPay it'll refresh their approved Spending Limit amount.
Or they can refresh their Spending Limit before making a purchase, by clicking 'Secure my limit' in their iwocaPay Dashboard.
Can they use their Spending Limit with any Pay Later option?
Yes they can use it for any Pay Later option - but the amount they have to spend might be different depending on which one they choose.