Trade customers can sign up to a spending limit with us with your own unique spending limit link on your iwocaPay dashboard. This works similar to a trade account, a customer can sign up prior to check out to see how much they’re approved to spend with us.
To sign up, we need a few basic details about them and their business. We’ll run a soft credit check and assess them for a limit up to £30,000 to use the next time they make a purchase with you. There is no cost for this service.
Please note - you can’t apply on your customers behalf, they’ll need to do it themselves.
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
In your launch pack on the iwocaPay dashboard, we’ve included templates and assets to be able to offer spending limits.
One of the biggest benefits of offering a spending limit is helping your customers shop with more confidence and enabling their purchasing power before they go to checkout.
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 applied they’ll be able to checkout with iwocaPay and choose Pay Later as normal. They will not need to sign up again, they will automatically be 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.