Question: What is Qonto’s Pay later feature, and who can use it?

Answer: This feature is only available for activities registered in France, Spain and Italy. It is available subject to  eligibility  and only accessible to Qonto account  Admins  and  Owners  who hold  Corporate Officer  roles.   What is Qonto’s Pay later feature? Qonto’s  Pay later  feature - also known as purchase financing - is a  financing solution  integrated into your app. It unlocks credit to finance your supplier invoices, allowing you to pay the amount back later in three installments. If you're eligible, you can access your credit through your Qonto app ( Financing >   Pay later) . The  credit  is the total amount at your disposal to finance your purchases with the Pay later feature. To use your available credit, simply upload a supplier invoice or a quote (through SEPA transfer) to your Qonto app. We will then  credit the exact amount to your account and set up an automatic transfer from your account to pay your supplier immediately . This ensures that your account balance remains the same after the operation.  Once you financed an invoice with the Pay later feature, the repayment is automatically scheduled in  three installments: +30 days, +60 days and +90 days.  A  fixed monthly interest rate of 1.17%  applies to each of them (15% APR). At each due date, the installment amount will be  automatically debited from your main Qonto account .    Therefore, it's important to ensure you always have enough funds to meet your installments. For more details, please refer to this  article .   ☝️ Good to know:  The APR (Annual Percentage Rate) is an actuarial rate. This means that the monthly rate is calculated as the equivalent rate over a period of 90 days (3 months).   How can the Pay later feature improve my business’ cash management? The Pay later feature offers numerous practical benefits, including optimizing cash management, providing solutions for financing supplies, facilitating tool investment, and managing unexpected expenses. Here is a list of examples where you could use it: Financing supplies or inventory . You can make timely rental payments to secure a stable business infrastructure for construction activities for instance, or purchasing furniture, paying for auction fees or restocking. Investing in new tools . You can buy goods and services aimed to support and expand your business. Emergency purchases . You can use it to replace broken furniture, tools and services, or for repairs. Who can use the Pay later feature? To activate the Pay later feature, you must match our eligibility criteria. If you qualify, you will then need to sign a contract.   What are the main eligibility criteria? 🇫🇷 We assess your eligibility and calculate how much credit you can use with these criteria: Your company must be registered  for at least 9 months . You must have been a Qonto customer  for at least 6 months . Your company must be  domiciled  in France or its overseas territories. Nonprofit organizations are not eligible. Your company must be fully  operational  and not in the process of closing. 2-step authentication must be  activated  on your Qonto account. If you are the subject of  seizure  following a debt contracted with a company, an individual or the financial authorities in your country, your access to the Pay later feature will be revoked. If we can’t debit an installment from your account on the due date, your access to the Pay later feature will be revoked.  Learn more about  the impacts of late repayment .   What are the main eligibility criteria? 🇪🇸 We assess your eligibility and calculate how much credit you can use with these criteria: Your company must be registered  for at least 9 months . You must have been a Qonto customer  for at least 6 months . Your company must be  domiciled  in Spain. Nonprofit organizations are  not eligible . Your company must be fully  operational  and not in the process of closing. 2-step authentication must be  activated  on your Qonto account. If you are the subject of  seizure  following a debt contracted with a company, an individual or the financial authorities in your country, your access to the Pay later feature will be revoked. If we can’t debit an installment from your account on the due date, your access to the Pay later feature will be revoked . Learn more about  the impacts of late repayment .   What are the main eligibility criteria? 🇮🇹 We assess your eligibility and calculate how much credit you can use with these criteria: Your company must be registered  for at least 9 months . You must have been a Qonto customer  for at least 6 months . Your company must be  domiciled  in Italy. Nonprofit organizations are  not eligible . Your company must be fully  operational  and not in the process of closing. 2-step authentication must be  activated  on your Qonto account. If you are the subject of  seizure  following a debt contracted with a company, an individual or the financial authorities in your country, your access to the Pay later feature will be revoked. If we can’t debit an installment from your account on the due date, your access to the Pay later feature will be revoked . Learn more about  the impacts of late repayment .   ☝️ Good to know:  we assess your repayment capacity on a monthly basis, that’s why your eligibility and the amount of credit you can use may evolve. A potentially non-eligible organization may become eligible, and vice versa. Qonto reserves the right to revoke your access to purchase financing at any time, in accordance with your contract terms.   What if I’m not eligible? If you do not qualify for Qonto’s Pay later feature, you can explore  other financing solutions  from our partners, in the  Financing > All partners  section of your account. And keep in mind that, as your business evolves, you may become eligible to pay later with Qonto in the future.