How can you benefit from PayU | Later?
Questions and answers
You can use this payment method when your cart’s value is between 100-2000 PLN and this payment method is accepted by the store you shop in. The decision whether you can use this method or not will be taken upon your credit score assessment performed by our financial partner’s (lender).
Our financial partner pays on your behalf for your purchase, based on the consumer loan agreement concluded between you and the lender. Starting from the purchase date, you have 30 days to choose one of the following options:
- pay off the total amount of the loan within 30 days, cost-free
- arrange the payment in 6 interest-bearing instalments
If you already used our PayU | Pay Later payment method and your loan is active, it means our financial partner has estimated your credit score regarding further PayU Pay Later loans. If your credit score allows it, the following scenarios are possible:
- Before the cost-free payment due date for your first PayU |Pay Later loan: you can apply for another loan for which the due date will be the same as the one determined for the first loan.
- After the cost-free payment due date, whether your loan payment is fully paid or arranged in instalments, you can apply for another loan, for which a new 30-day period of cost-free repayment will be determined.
- In case of arrears in your PayU | Pay Later payment, you can not apply for another loan.
After the first transaction with PayU | Pay Later, you will receive an e-mail with a link to your client panel in Monedo (owned by Kreditech Polska Sp. z o. o.). You can conveniently pay off your loan online: by your card or by quick transfer. You can also pay off the loan with a traditional transfer to the loan account determined in the Monedo customer panel and in the agreement you received after the transaction.
In the customer panel in Monedo, you can arrange the payment in 6 monthly installments.
The payment of your PayU | Pay Later loan will be automatically converted into 6 interest-bearing installments. You can pay off the loan at any time – in that case you will only incur the proportional costs covering the period since the conversion of your loan into installments.
You can find an example simulation of installment payments under the link.
If the store accepts the return of the purchased product, the store initiates the process of returning money to the lender in order to pay off your loan (the PayU | Pay Later loan). The following scenarios may then occur:
a) If the return of the purchased product is accepted by the store before the end of the 30-day cost-free period, then your loan is closed at no cost.
b) If the return of the purchased product is accepted by the store after the end of the 30-day cost-free period, then you will incur additional costs of the loan, proportional to the period since the conversion of your loan into installments.
You will receive an email with a payment reminder within 30 days of the purchase date.
Kreditech Polska Sp. z o.o., based in Warsaw, Poland, is an innovative company operating in the Fintech industry; it was established in 2012 in Germany. The lender guarantees a fast, convenient and secure process. The application is 100% online. The information sent is encrypted and is not saved or shared with any third party.