Responsible Spending

At paywaz our mission has, and always will be to offer savvy consumers a buy now pay later service “buy now, #paywazlater” that is consumer centric, open and transparent, not requiring consumers to enter into a traditional loan or pay upfront fees or any interest, ever.

We want to empower our community of member users to take control of their finances and to utilize the paywaz service to their advantage.

We do however hope you utilize our platform responsibly, please read and follow the below principals to maximize the paywaz service. We’re here to help, please feel free to contact us if you need any assistance with your account or advice to manage any forthcoming repayments.

Attention Please… Slow and Steady
Please only spend what you can afford to pay back in scheduled repayments. At paywaz our mission is to offer a buy now pay later service, we’re not an open credit facility that encourages you to spend more. Nor are we a bank, credit union or any form of traditional financial institution, quite simply we’re a community of member users that offers services that are open and transparent offering consumers interest free installment plans via our retail Payments as a Service “PaaS” platform. To ensure this, we take time to get to know you and your circumstances before enabling you to spend more. We set responsible initial spending limits that increase gradually over time that reflect your repayment history and spending habits. We assess, review and monitor every users spending habits using our proprietary real-time Repayment Ability Check to determine spending capacity and a consumer’s repayment ability in real-time helping to maintain account good standing.

Um Hum, Extension & Late Fees
At paywaz our service is interest free, full stop. However we do charge accounts where users may require an extension for scheduled repayments. Users are charged for Late Fees for each failed attempt for repayment (we charge for Extension/Late Fees only as a deterrent so member users accounts remain in good standing and so you can continue to use the platform). We’ve also set up “smart” reminders, prior to your scheduled repayment date(s), to help you with your repayment schedule and will notify you of a successful repayment and or, if a scheduled repayment has failed.

This Statement was last updated on 01/01/2019.

If you have any questions about how paywaz works please visit our FAQ page.

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