IMPORTANT UPDATE as of 22/07/2020: Pay by Instalment is available again from our finance partner ProspaPay. There are some changes as outlined below.


Get paid in full with ezyCollect’s Pay by Instalment options, available to your customers in Simplypaid or in the ezyCollect's customer portal.

How does it work?

Include your customised Pay by Instalments button alongside your Pay Now button on your ezyCollect reminders.

Your customers simply click to enter their personalised online payment portal where they will see the option to Pay in Instalments.

NB Your customers will always have the option to Pay Now with a credit card.

Fast, unsecured finance for good payers

Your customers can apply in-app to finance their debt with a third party finance provider who agrees to pay your business in full, and accept scheduled repayments from your customer.

Your customers will be presented with one of two finance options:

  • Pay back in 10 weekly instalments (Service Provided by our partner ProspaPay with current $5,000 limit)
  • Not Available: Pay back in 3 monthly instalments (Service Provided by Invigo - currently still not available due to COVID-19)

Pay in 10 weekly instalments by ProspaPay - (3.5% invoice fee applies) 

Important notes:

  • Current Transaction Limit: $5,000 only
  • Upfront cost: 1st payment plus the 3.5% total fee
  • Available to selected industries only and to Australian registered businesses only.

Your customer selects their total payment amount and the portal includes the fee (3.5% of the total invoice amount). The first payment is due at the time of request plus the 3.50% fee with this finance option - this is payable by your customer.

*If the amount selected is more than $5000, the customer will have to adjust it accordingly so that it meets the $5k limit threshold. Your customer/s can still pay the remaining amount through other options like direct bank transfer to you or via credit card.

Your customer will be prompted to enter their details as per screenshot below:

After a simple in-app application process and subject to approval, the funds are usually approved within 24 hours and transferred to your nominated bank account.

Pay in 3 instalments over 90 days

{Service Provided by Invigo - currently on hold and not available due to COVID-19}


Who will you receive payment from?
The funds will be paid by the approving finance party transferred to your nominated bank account and will note the debtor name paying the invoices. 


Note:
Please note that this service is only available to Australian based businesses (not individuals).


Next Steps: Add "Pay by Instalment" button in your ezyCollect reminders, by simply following these steps outlined here. 

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