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Using Payl8r
Payl8r is a trading name of Social Money Limited who is authorised and regulated by the Financial Conduct Authority under registration number 675283.
To use Payl8r you must go through participating stores. You will see us online at checkout, or ask in-store. You can check our some of our featured store here.
In order to meet our minimum criteria you must be 18+, a UK resident, have online banking and a regular source of income. Payl8r will consider all credit types but may ask you to complete an affordability assessment through Open Banking.
Credit will be subject to affordability and credit worthiness.
If your application is with Manual Underwriting, this usually means that it has gone to our physical team for a review and a final decision.
As soon as they have made a decision, they will be in touch, so please keep an eye on your email and mobile for further communications.
Yes. You must have a UK bank account capable of accepting Continuous Payment Authorities and you must have online banking.
For most customers the decision is automated and takes 30 seconds after you confirm your application.
Please note: Some applications may require additional affordability checks and therefore it can take longer. You will be notified by email if your application is sent for further review.
We will aim to give you a decision within 60 minutes if received between 9am-5pm Monday – Friday. If we receive your application after hours, you will hear from us the next working day.
Representative APR 65.5%
Returns and Refunds
- It is your responsibility to contact the retailer or service provider that you made your purchase from and arrange a refund or return under their refund/returns policy.
- If the retailer authorises a refund and repays Payl8r the money that was sent to them for the goods or service then we will cancel your loan agreement and you will have nothing more to pay. Anything paid thus far will be returned to you.
- Unless we are notified by a Retailer that a return or refund is in progress, we will continue to process any Automatic Payments in accordance with the dates set out in your Payment Schedule and in accordance with the FCA regulated contract between you and Payl8r.
- If the retailer does not authorise the refund or does not return the money to Payl8r, then you will be liable for the full loan agreement and instalments as set out in the FCA regulated contract between you and Payl8r.
Any disputes regarding the Refund or Return must be taken up by you and the Retailer (and not with Payl8r). Where Payl8r needs to get involved it will do its best to facilitate a fair outcome based on the evidence provided. If you are unsatisfied with the final outcome you may be able to raise a section 75 claim and should contact [email protected]
Contact the retailer you made your purchase from. The retailer will take care of the rest.
Please allow up to 10 working days for approved refunds to reach your account.
Usually it may take up to 10 working days for approved refunds to reach your account.
Products and Services
Payl8r’s interest-bearing loans have a 0% interest period if settled in full within 30 days. You have the right to repay the loan in its entirety within the interest free period.
If you select a plan with 0% interest then there will be no interest charged. If you select an interest bearing plan but pay within 30 days no interest will be charged.
If you select an interest bearing plan and do not settle within 30 days you will be charged interest as detailed in your loan agreement.
This will depend on the loan option you select and whether you have picked an 0% interest or interest bearing plan.
A Deferred Payment Credit (DPC) Agreement is a type of regulated credit agreement used for certain interest-free Buy Now, Pay Later (BNPL) products.
Your agreement is likely to be a DPC agreement if it:
- Is interest-free;
- Is repayable in 12 or fewer instalments; and
- Is repaid within 12 months.
DPC agreements are regulated by the Financial Conduct Authority (FCA), giving customers the same regulatory protections that apply to other regulated credit agreements.
Both are regulated credit agreements, but they are designed for different types of finance.
A Deferred Payment Credit (DPC) agreement is used for certain interest-free Buy Now, Pay Later products that are repaid in 12 or fewer instalments within 12 months.
A Consumer Credit agreement is used for other regulated lending products, including:
- Loans that charge interest; and
- Some interest-free agreements that don’t meet the criteria for a DPC agreement.
Whichever type of agreement you have, your agreement will clearly explain the terms of your finance and your rights as a customer. If you have an agreement with us you can view it anytime within your Portal by logging in here.
Payments
It’s important you keep up to date with payments to avoid impact to your credit file.
However, we know mistakes can happen so if you do miss a payment, we’ll let you know via SMS and email, and will give you 28 days to bring your account up to date before we apply any late fees.
All late fees are detailed within your credit agreement and will be listed on the email we send to you. You can find your credit agreement in the Customer Portal here.
If you do experience financial difficulty or are worried about making payments on time please get in touch with our collections team who can help.
Email: [email protected]
Phone: 0161 425 6363
Our open hours are: 9am – 5pm Monday to Friday.
If you’d like some further advice, you can visit www.stepchange.org or https://www.citizensadvice.org.uk/ for free, impartial support.
Please note: If a payment remains unpaid after our grace period, it will be reported to Credit Reference Agencies, which may affect your credit file and future ability to obtain credit.
Additional fees may also apply. Please see your credit
agreement and our T&Cs for full details.
Yes you will need a valid debit card which is connected to your main account in order for repayments to be made on time.
If you wish to change your payment card, this can be done one of three ways.
- Change your card details on our Customer Portal
- Email us here: [email protected]
- Call us here: 0161 425 6363
Please allow at least 24 hours before your payment is due.
Our Open Hours are: 9am – 5pm Monday to Friday.
Yes, you can repay early at no extra cost.
To repay early you can contact our support team [email protected] or give us a call on 0161 425 6363.
Our open hours are: 9am – 5pm Monday to Friday.
Deposit options vary by retailer. We offer zero deposit across a large number of our partner stores, though in some cases a minimum of 10% deposit may be required.
Late Fee Structure
If we attempt to take a payment and it fails, we may charge a fee of £5 per failed attempt, up to a maximum of two failed CPA attempts per scheduled repayment per calendar month (i.e. a maximum of £10 in late fees per scheduled repayment per month).
We will waive the above charge if you bring your account up to date within 28 days of the first fee being imposed.
We may also charge you the following standard charges in the following circumstances
- File preparation for debt collection – £30
- Unjustified Chargeback claim – £25
- If you fail to notify us of a change in address, number or email and we have to trace you – £35
- For any payment not made by CPA or Direct Debit – £10
Please refer to the Credit Agreement in your Portal for full details.
Struggling to pay? If you’re worried about missing payments, get in touch with our team as soon as possible. You can call us on 0161 425 6363 (Mon-Fri 9-5pm) or email us anytime on [email protected].
Please note: If a payment remains unpaid after our grace period, it will
be reported to Credit Reference Agencies, which may affect your credit file and future ability to obtain credit.
Additional fees may also apply. Please see your credit
agreement and our T&Cs for full details.
Once approved your payment plan will start with the first repayment due in 30 days. Payment will be taken from your card via CPA in a month on the date specified in your contract. The number of payments will depend on the loan term you have chosen.
You can find your credit agreement in the Customer Portal.
Yes.
You have the right to cancel your credit agreement within 14 days.
You MUST
- Email [email protected] OR
- Call 0161 425 6363 within 14 days and pay any outstanding balance and interest within 30 days.
Our Open Hours are: 9am – 5pm Monday to Friday.
If you wish to cancel your purchase and get a full refund please contact the retailer.
There are certain instances where a refund is not possible such as bespoke goods, goods that have been used, your outside of the retailers refund policy or where seals have been broken. Please check the retails refund policy if you are unsure.
Login and Account Access
Best thing to do is:
- Visit our Customer Portal login page.
- Click ‘forgotten password’
- You will then be asked for your email, enter your email associated with your account.
- You will then be sent a passcode to the email address you added in – please do give it a few minutes and check your junk.
- Add this code into the verification area on the website.
Once added, this will give you the access you need to your account and to reset the password
This could be due to a number of reasons.
- Check your junk mail
- Check your internet connection, as your inbox may still need to refresh.
- Make sure, if you have multiple email accounts, that the email you provided was the one you made your Payl8r purchase with. If you can’t remember the email you used, we’d recommend searching for an order confirmation in your inbox.
- If none of the above work, please contact us.
On your customer portal, you will see your:
- Payment Schedule
- Loan Balance
- Ability to change your card details
- View and correct any missed payments
If you’d like to login, please sign into your customer portal here.
Fraud / Security
We use Open Banking to review your affordability for the loan. We may ask you to complete this due to any of the following:
- If you have less than perfect credit.
- The loan value is over £500.
- You are a returning customer.
- As a fraud prevention method.
You can find out more about Open Banking here.
Not as standard however sometimes, for security measures we may require a proof of ID. This will be a picture of your face holding up your ID and/or scanned copy of your ID.
Yes, we run a credit check for automatic decisioning on your application and to ensure we are lending responsibly.
If you repay your loan on time, and do not miss payments, then your credit score may improve. If you miss a payment and do not bring your account up to date within 28 days of the scheduled payment this will be reported to the credit bureau and may:
- Damage your credit file
- Affect future borrowing
- Result in legal action
We do not sell your personal data to other companies. For more information about how we handle your data and your personal information, please visit our privacy policy page.