Imagine your invoices being paid immediately. Forevermore.
With InstantPay you stop chasing payments today.
InstantPay pays your invoices when your customer receives them, by assessing if they will be approved. It’s not a loan, it’s not factoring, you don’t need to manage discount rates and you don’t have to wait.
We use historical data to forecast the approval of new invoices. If the invoice scores high enough, we authorise an early payment, and you have cash in your account within hours
We believe that businesses should be paid faster.
But your customers are trapped by process and external expectations, which makes it hard for them.
Our technology helps to speed things up and means you don’t have to stress about your cash flow.
Once you’ve been paid, that’s it. No more uncertainty.
Our state-of-the-art system and existing relationship with your customer takes care of the rest.
If you supply a customer that is offering InstantPay then watch out for an email with an invite to join up. We’ll then get you signed up in three easy steps.
You don’t change anything you do, we use the data from your customer.
As soon as invoices are entered into their system, our smart technology processes them and authorises an instant payment.
There is no need to open a new bank account, we pay into the same one that you use today.
Our App allows you to check the status of invoices as well as providing a remittance advice that breaks down the payment, into:
Most businesses that qualify for InstantPay will get paid when their invoice is received every time, but there will be exceptions and we understand predictability is important for you.
The things that are most likely to change whether or not your invoice can be authorised for InstantPay:
Once signed up, you can track your invoices and payments on our portal. If an invoice does not qualify, and there is no dispute, we will do our best to pay you as early as possible and no later than normal terms.
We charge a fee of 1% for every 30 day period (pro rata) an invoice is paid by InstantPay ahead of your normal terms. This is an APR of 12%.
Most, but not all, businesses can benefit from InstantPay.
There are some limits, for example, we can’t help you if you have less than 3 directors. We’re also probably not the right solution if you have access to cheaper finance
If you want to use InstantPay to pay your suppliers, contact our buyer team on firstname.lastname@example.org
We have done everything we can to make InstantPay as competitive and fair as possible. Here are some examples to show you.
(days from authorisation to normal terms)
|Fee (%)||Fee for a £1,000 invoice||Fee for a £5,000 invoice||Fee for a £10,000 invoice||Fee for a £100,000 invoice|
|20||0.67||£ 6.70||£ 33.50||£ 67.00||£ 670.00|
|30||1.00||£ 10.00||£ 50.00||£ 100.00||£ 1,000.00|
|45||1.50||£ 15.00||£ 75.00||£ 150.00||£ 1,500.00|
|60||2.00||£ 20.00||£ 100.00||£ 200.00||£ 2,000.00|
|90||3.00||£ 30.00||£ 150.00||£ 300.00||£ 3,000.00|
Our research shows that small businesses often pay APRs of 15-25% for overdrafts, credit cards and unsecured loans. InstantPay is 12% APR and is half the price of factoring (median charge of 24% APR). You can use our calculator below to try out some scenarios for yourself.
Your fees are used to pay for:
In return, you get paid instantly.
Join the 93% of suppliers who would benefit from InstantPay
Previse/Censuswide survey of 500 SMEs conducted late 2017