Debite rolls out new payment solution 'Debite Pay'

Early-stage companies can unlock the ability to use their line of credit to pay suppliers that prefer bank transfers or might not accept card payments. Companies can also split those payments up to 12 months using the ‘Pay-in instalments’ feature, extending their runway and ensuring greater payment flexibility.

Why is it useful?

Debite Pay aims to solve the long-standing problem founders have faced making bank transfer payments when they don’t have enough cash in their bank account. When cash flow is low, large payments to suppliers can prevent or stunt growth and, in many circumstances, may even cause a business to close down, as per the press release. With Debite Pay, this problem is removed.

Debite was born with a mission to help businesses manage their cash flow more effectively and maximise their growth potential. This new feature provides even more flexibility to early-stage companies searching for new ways to smooth out business expenses, whether it is a card payment or bank transfer.

Debite Pay will initially be offered to companies in the UK market. It is an interest-free credit for up to 35 days, with transfer fees starting from GBP 5. It has a built-in instalment feature that can split payments over 3, 6, 9 or 12 months.

Debite’s application process takes less than 5 minutes and is underpinned by its proprietary technology, with no personal guarantees required. A decision is made within 24 hours, with a credit limit available instantly. Customers can then easily use this limit to make card payments or bank transfers with the Debite corporate card or Debite Pay.