In a nutshell, how does iwocaPay work?

iwocaPay helps businesses offer their customers more time to pay for an order. The Seller invites their customer to use iwocaPay by sending them a pay link. The customer can sign up and check they're eligible to use iwocaPay in about ten minutes. If they go ahead, we pay the Seller in full and their customer gets up to 90 days to pay, so they can pay when it's right for them. If they pay everything in the first 30 days, it's free.

What invoice sizes do you cover?

You can use iwocaPay to cover invoices between £150 and £15,000.

Who can use iwocaPay?

Any UK Limited company can sign up to spread the cost of an invoice with iwocaPay.

How long do Buyers get to pay?

Buyers can spread the cost of an invoice with iwocaPay over up to 90 days. They can make early payments or settle up at any time for free - we don't charge any fees. 

What's the Net Term period?

The Net Term period is the 30 days after iwocaPay has settled an invoice with the Seller. This works like normal net payment terms in that the Buyer has this period to settle the original invoice amount to iwocaPay, for free.

What's the Extended Term period?

The Extended Term period is a further period over which the invoice cost can be spread, usually up to 90 days. The Extended Term will start automatically on the 30th day after we've settled the invoice. The cost of repaying in this period will be clearly outlined in advance. 

How does the Buyer get approved to use iwocaPay?

The Seller will invite the Buyer to sign up with iwocaPay by sending them a secure pay link.

What’s a pay link?

When a Seller refers their customer to iwocaPay, they’ll generate a unique pay link for the invoice. Their customer can use this link to sign up for iwocaPay and apply for finance. 

Can the customer use iwocaPay to finance future orders?

Yes - once they've paid their invoice, they can use iwocaPay to spread the cost of the next invoice. 

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