Be paid quickly
Acquire new customers
Drive incremental sales
Increase basket size and revenue
Gain a competitive advantage by providing greater payment options to their customers
Using the ProspaPay Merchant Portal – your online dashboard to create and manage ProspaPay orders. It’s quick and easy!
Apply & Integrate
It takes minutes to apply and it’s easy to add ProspaPay to your website or invoicing process.
Customer chooses ProspaPay as a payment method.
You process the order. Prospa pays you and assumes the credit and fraud risk
Your customer pays Prospa back over time, interest free
Prospa is Australia’s #1 online lender to small business, offering fast, easy access to funds. Prospa has delivered over $1 billion in funding to 19,000 small businesses across Australia and New Zealand so far and are rated #1 Money brand in Australia on TrustPilot with a score of 9.9/10.
ProspaPay is a business payment solution that gives business owners peace of mind by putting less time between them and their money. Once approved, integrate ProspaPay into your shopping cart or invoicing process and delight your customers with a no interest payment option that will help grow your business by encouraging customers to buy more from you. You’ll get paid by ProspaPay as quickly as same business day (for purchases under $5,000) meaning you won’t need to worry about cash flow, deal with payment terms or chase unpaid invoices.
An agreed merchant fee (calculated as a percentage of the invoice amount) per ProspaPay transaction. There are no additional facility or line fees.
Call us on 1300 706 983 to talk to us about how ProspaPay could work for your business.
It’s just a few minutes on the phone and in as little as an hour, the customer will be ready to use ProspaPay.
For a super quick process, ProspaPay asks the customer to have the following details on hand.
Each customer is allocated a ProspaPay limit relative to their unique business circumstances and ability to service the repayments.
There are two ways to submit a transaction:
The customer will receive a ProspaPay Agreement for the specific transaction. The customer digitally signs the agreement – authorising ProspaPay to pay the invoice using ProspaPay.
You’ll receive confirmation from ProspaPay (triggered by the customer digitally signing the respective ProspaPay Agreement).
1. Invoices between $50.00 to $10,000.00
ProspaPay pays the customer’s invoice on their behalf, upfront, into your nominated bank account.
2. Invoices between $10,001.00 to $20,000.00
After the customer confirms they’ve received the order, ProspaPay pays the customer’s invoice on their behalf into your nominated bank account.
ProspaPay pays the invoice total less the agreed merchant fee (calculated as a percentage of the invoice total).
There’s no interest ever. No fees if all payments are made on time.
ProspaPay passes on the dishonour fee and the following fees apply:
ProspaPay takes on all credit risk. There is no recourse (claw backs) on your business.
If a customer informs ProspaPay of a dispute, ProspaPay will pause the customers obligation to make repayments for a set period. ProspaPay will contact the partner to work through any unpaid amounts owing.
As ProspaPay have made payments on the customer behalf, all refunds owing should be made to ProspaPay.
Prospa is Australia’s #1 online lender to small business, offering fast, easy access to funds, with approval and funding possible in 24 hours.
More information can be found at https://www.prospa.com or by calling 1300 882 867.
Standard credit assessment, fees, terms and conditions apply.
Australian Credit Licence 454782 | ABN 47 154 775 667