Why businesses love using Pay Later
Increase average order value
Give trade customers the power to spend more and keep coming back.
Access funds instantly
As soon as your customer checks out you have the money in your bank account.
Avoid credit risk and late payments
If your customer doesn't pay us, we'll never ask you for a refund
Work with more customers
Remove cost as a barrier to purchase and make payment terms a USP.
How Pay Later works
You add iwocaPay as a payment option
iwocaPay is easy to add anywhere you take payments - from invoice to ecommerce or even in person.
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.
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.
We pay you instantly
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.
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 1, 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 1, 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.
Giving trade customers an approved spending limit
Your customers create an iwocaPay trade account
Your trade customers sign up to iwocaPay via your unique link to apply for a spending limit.
They get up to £30,000 to spend
We’ll take care of all the credit checks and keep track of their iwocaPay trade account balance.
And use it to pay for their future purchases
They select Pay Later to use their spending limit, you’ll get the funds up front as soon as they checkout.
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?
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?
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?
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?
Their maximum spending limit is £30,000 over 1, 3 or 12 months.
When customers start make repayments their spending limit tops up by the same amount.
Offer Pay Later to your business customers
B2B buy now pay later (B2B BNPL) lets business sellers offer flexible payment terms to their trade customers at checkout, without carrying the credit risk themselves. Unlike consumer BNPL, it's designed for invoices, trade accounts and business-to-business transactions.
Why businesses
love using Pay Later
Turn the way you take payments into a competitive advantage.
Get paid upfront, every time
As soon as your business customer checks out, the funds land in your account. No more chasing invoices or net-30 delays as standard.
Remove all credit risk
We'll never ask you for the funds if your customer doesn’t pay us. No matter what happens you get paid upfront everytime, with no recourse.
Increase average order value
Give approved business customers up to £30,000 to spend via iwocaPay and increase their purchasing power.
Win more B2B customers
Turn your payment terms into a competitive advantage to win more trade customers and work with businesses you weren’t able to before.
How Pay Later with iwocaPay works for B2B suppliers
You add iwocaPay to your checkout, invoice, or payment link.
Your business customers choose Pay Later with iwocaPay.
We pay you as soon as they complete checkout.
Give trade customers up to £30,000 to spend
Show your trade customers how much they are approved for before they make purchasing decisions. Helping you increase average order value and keep customers coming back.
Your customers create an iwocaPay trade account
We assess them for up to £30,000 to spend
They can use it across one or multiple Pay Later purchases
Choosing the best B2B payments solution
How iwocaPay compares to other common solutions.
Is iwocaPay right for your business?
iwocaPay is a good fit
B2B turnover is above £100K
UK business selling mostly to UK businesses
Take most payments online
Average order value is below £30K
iwocaPay might not be a good fit
Your B2B annual turnover is below £100K
Most customers are outside UK or with sole traders
Take most payments in person by non-directors
Average order value of <£500 or >£30K
