Pay Later

Let your trade customers spread the cost over 3 or 12 months while you get paid up front, in full, instantly with no recourse.

  • Access your funds instantly
  • Control how much you pay to get paid
  • Offer flexible terms without the admin and credit risk

Why businesses love using Pay Later

Turn the way you take payments into a competitive advantage.
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How Pay Later works

  1. You add iwocaPay as a payment option

    iwocaPay is easy to add anywhere you take payments - from invoice to ecommerce or even in person.

  2. Your customer chooses to pay with iwocaPay

    They select iwocaPay at your checkout or wherever you take payments and follow the steps. If they don’t already have an iwocaPay account they’ll be able to create one there in 2 minutes.

  3. They choose how long they want to pay

    Based on their eligibility and the options you want to offer - they’ll be given the choice spread the cost over 3 month or 12 monthly instalments.

  4. We pay you instantly, in full

    As soon as your customer finishes checking out we send the funds in full to your bank account. No more chasing or waiting for payments to clear.

  5. Your customers pay us monthly instalments

    There’s no recourse - which means unlike others we’ll never ask you for the funds if they don’t pay us.

Let trade customers pay over 3 or 12 months

Give eligible customers more purchasing power and help them manage their cash flow by giving them the option to spread the cost over 3 or 12 months.

Interest free for your customers, or free for you

You control the fees for Pay Later. Take all your payments through iwocaPay for free or stand out from the competition and offer Pay Later interest free - for all of your customers, or just a special few.

Give them up to £30,000 to spend

Show your trade customers how much they can spend before they are at the checkout and increase average order value and customer loyalty.

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Giving trade customers an approved spending limit

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Getting paid with Pay Later

Here are some of the common questions we get asked about accepting payments with Pay Later - you can find all our FAQs here.

What happens if my customers don’t pay iwocaPay?
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We take on all the credit risk so there’s no recourse - that means if your customers don’t pay us we’ll never come to you asking for the money (unlike other solutions like invoice factoring).

We also don’t outsource our credit recovery process to nasty third parties. iwocaPay is part of iwoca - an award winning small business lender with years of experience lending responsibly and working with businesses to get them back on track when they struggle to pay.

How much does it cost to offer Pay Later?
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We only charge for Pay Later when your customers use it , there’s no subsctiption fees. You also control who pays for Pay Later - either a fixed % on each Pay Later transaction for you (and interest free for your customers) or free for you and interest bearing for you customers.

What you pay will depend on your business and account set up when you join us, speak to the team on 0203 778 0549 to find out how this might work for your business.

Can I see which customers sign up for an iwocaPay spending limit?
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Yes - if your customers signs up using your sign up link. They’ll appear in you “Spending Limit” page in the dashboard.  They’ll show the same statuses as payments for “Signed Up” & “Approved”.

If they sign up on the iwocaPay website you won’t be able to see them here.

What’s the maximum spending limit a customer can get?
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Their maximum spending limit is £30,000 over 3 or 12 months.

When customers start make repayments their spending limit tops up by the same amount.