- Q. What will I be charged for using this service?
A: For big businesses there is no charge for offering bePayd to their suppliers. For suppliers they will be offered an early payment of an invoice in exchange for a small discount. During the Covid-19 crisis this discount will be the minimum amount we can apply to cover our costs. They are not commercial rates and mean we do not take any profit from this process.
- Q. Why is this more beneficial than other forms of financial support available?
A: bePayd is a good way to get access to cash quickly. It is our technology that sets us apart, though: once registered, you can get invoices paid in as little as three clicks. There is nothing to download or portal to access. It is extremely simple to use.
bePayd is not an antidote to the current financial difficulties many businesses are facing but can greatly support in accessing cash simply and quickly. We urge all customers to consider the full range of measures available, including those available via the UK Government.
- Q. Is bePayd just for businesses struggling with Covid-19?
A: No, bePayd is for all businesses and will be ongoing when we have seen the back of the Covid-19 crisis.
- Q. Does bePayd do anything to support the coronavirus and Covid-19 effort?
A: Yes, bePayd has done two primary things. Firstly, we have been working round the clock to ensure larger businesses can remotely deploy our solution within their finance processes simply and quickly. Secondly, we have approached UK Government to offer this service at zero-profit.
- Q. When will the zero-profit support end?
A: Our first priority is to support the UK economy and help our Government in a national effort to survive this pandemic. We will offer those terms for as long as is practical and keep all businesses fully informed. It is not our intention to raise our charges quickly or without consultation: we are mindful of the serious plight facing many organisations.
- Q. Who owns bePayd?
A: bePayd is owned by global spend management company, Proactis.
- Q. Who takes on your financial risk?
A: We take on the financial risk.