myPOS assists you to get a revenue-based financing from a partner*, tailored specifically to your card turnover
Still not a myPOS merchant? Open a free account with myPOS - become eligible for the myPOS Financing program.
myPOS Financing program features a simple flat fee - no complex ongoing interests. Interested?
With myPOS, you don't even need to look for financing offers. Once you meet our pre-selection criteria, our partners will automatically make you an offer.
If interested, you will be able to customise the financing parameters to best fit your needs.
Once you sign the financing agreement you will have the money in your account instantly.
Repaying your financing is as easy as getting it
A percentage of your daily card and online payment transactions will be automatically deducted from your myPOS account.
On days when nothing has come in your account, nothing goes out - no repayment amount is deducted.
It’s hard for SMEs to qualify for a revenue-based financing. Either the lending standards are unattainable, or the processes are intricate. Often, it’s both.
As your trusted payments platform, we know your struggles - as we know your success.
This is why we set on a mission to take our help further and act as a mediator between you and our partner credit institutions.
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What is myPOS Financing and is the service available to all myPOS merchants?
myPOS Financing is a program aimed at selected myPOS merchants, eligible according to certain predefined criteria. myPOS performs internal checks as per predefined eligibility criteria, related to the merchant’s myPOS account.
How do I apply for myPOS Financing?
Once you are selected as eligible for the myPOS Financing program, you receive a notification throughout various channels. If you’re interested, our partner credit institution sends you tailor-made offers. Once you approve an offer, you get your digital agreement to sign online.
How quick does the financing amount enter my myPOS account?
As soon as the contract is signed and sent to the service provider, the financing amount goes into your myPOS account on the next business day.
Where do I receive the amount under the myPOS Financing program?
The amount provided to you with the myPOS Financing program goes straight to a myPOS account specified by you.
What is the interest rate?
No classical interest rate is applied to this product. The amount you receive is your principal amount and the amount you have to repay is your total repayment. For the regular financing reimbursement, а repayment percentage of each POS and online acquiring transaction amount in your myPOS account is deducted automatically, until you have completed your Total repayment.
What is the maximum I can borrow?
There is no maximum limit set. It depends predominantly on the size of the business of the merchant (the registered turnover). But there might be other factors, too, which depend on the assessment of the service provider.
What is the maximum repay period?
The maximum period of the reimbursement is defined by our partner credit institutions and is between 12 and 15 months. It will be included in your tailor-made offer.
Can I control how much I will repay on each sale?
Yes, merchants can choose the desired repayment percentage. However, you make your choice only at the stage of offer approval, in case there are offers with different repayment percentage. Once you have accepted an offer, you won’t be able to modify the percentage later. It will be fixed for the financing lifecycle.
Can I receive an amount with the myPOS Financing program, if I am already repaying a financing with another credit institution?
Yes, you can. The assessment whether you will receive an amount with the myPOS Financing program or not, is based on your eligibility with myPOS. If the performed checks are showing such possibility, then yes - the myPOS Financing program can provide you with a financing amount.
Can I use the myPOS Financing money for any type of purchase?
The myPOS Financing program aims at helping your business grow. This financing amount should be spent on reinvestment, like buying new machinery, repairing existing equipment, hiring workforce, advertising, etc.
Where can I get more information about the myPOS Financing specifics?
The entire information is within the myPOS account of the merchants who are eligible for the program.
*Revenue-based financing is provided by partner companies that are fully licensed financial or credit institutions.
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