Buy Now, Pay Later

Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date.

PastPay’s BNPL service provides increased liquidity in B2B transactions for both creditors and debtors.

How does it work?

The marketplace or webshop installs the PastPay plugin (or implements the API directly)
When a debtor (a.k.a. buyer) places an order
PastPay (Péntech) processes the invoice and pays the creditor
Later, the debtor pays to PastPay

Dictionary

creditor ➜ supplier ⁄ seller. Technically the webshop operator.
debtor ➜ buyer ⁄ webshop user.
auto KO ➜ part of our internal risk analysis process.

⚠️ Notes

The API is capable to handle single webshops and marketplaces (where the debtor can buy from multiple creditors on one platform)
The GET /debtor/{debtorTaxNumber}/limit endpoint contains the addresses for the official headquarter and other official locations. Currently we only accept fundings shipped to these addresses.

Sales Partner (Magyar): API részletei

PastPay (English): API