How to use Qonto’s Pay later feature?

Qonto’s Pay later feature, or purchase financing, is built into your app. It offers credit for short-term supplier invoices, repayable in 3, 9 or 12 instalments. If you’re eligible, you can access your available credit in the app to finance purchases: upload invoices, and we'll credit your account for immediate supplier payments.

☝️ Use your full potential for eligibility and credit by connecting your external accounts to Qonto.

How can I activate the Pay later feature & check my eligibility?

To activate the feature, you need to match our eligibility criteria and sign a contract. It´s done with just a few clicks.

☝️ Good to know: Activating Pay later is free. Only Qonto account Admins and Owners who are Corporate Officer can use the Pay later feature, subject to eligibility.

If your business is eligible for Pay Later

1. Log in to your Qonto account from a computer or mobile phone. Click on Financing → Pay later,.

2. If you are eligible, you’ll see how much you can use to finance your purchases within seconds. Click Activate Pay Later to directly move forward.
   

3. You can potentially increase your credit by connecting external accounts. To do so click on Check how to increase credit. Then choose connect an external account and follow the flow.

4. Click Open and sign contract, then Sign at the bottom of the page to activate the option to pay later on your account. You will receive an email confirmation with the contract PDF. 

☝️ Note: If you’re eligible, you can also activate the Pay later option from the SEPA transfers:

1. Choose the SEPA transfer by invoice upload option
2. Choose the beneficiary and then select Pay later
3. Upload your invoice
4. Enable the Pay later option and click Confirm
5. Click Open and sign contract, then Sign at the bottom of the page.
   And that’s it: The Pay later option is activated for this transfer and available for the next ones. 

You can also pay your invoices with the Pay later option directly from the Supplier Invoices section.

If your business is not yet eligible for Pay Later

1. Log in to your Qonto account from a computer or mobile phone. Click on Financing → Pay later

2.  If you are not eligible and your business is older then 6 months, you can potentially increase your eligibility by connecting your external accounts to Qonto.
   
   Click on Connect external account and follow the flow.

3. If you do not qualify for Qonto’s Pay later feature, you can explore other financing solutions from our partners, in the Financing > All partners section of your account. And keep in mind that, as your business evolves, you may become eligible to pay later with Qonto in the future.

What is my available credit, and how is it calculated?

• Your credit is the total amount you’re eligible to use.
• Your available credit is the actual amount you can use at any time to finance your purchases. Each time you use purchase financing, your available credit decreases.
• Your available credit is replenished as you make your repayments, giving you greater financial flexibility.

👉 Example: If your credit is €10,000, and you used €2,000 for a purchase with the Pay later feature, your available credit will be €8,000 until you start to make repayments.

If your company is older then 6 months, you have as well the option to potentially increase your credit by connecting your external accounts to Qonto.

Your credit is calculated according to a set of criteria, including your company's history and activity with Qonto. Several factors are taken into account to ensure that this amount aligns with your needs. While the maximum limit is €100,000, the amount you qualify for may vary depending on our assessment. This personalized approach ensures you access to funds adapted to your situation.

☝️ Good to know: This amount is adjusted monthly, according to your company's activity. It can be increased or decreased. So you’ll always benefit from a credit limit adapted to your situation, for greater flexibility and control.

How do I finance a purchase with the Pay later feature?

Once you have checked your eligibility and signed your contract, you’ll be able to access the option to pay later by initiating a transfer (either a standard or instant transfer) via these steps:

1. Log in to your Qonto account from a computer or mobile phone. Click on Financing > Pay later (from the mobile app: select Menu > Pay later), and then Finance a purchase. Alternatively, click on Transfers and then Make a transfer (by invoice upload).

2. Upload an invoice. Please note that the option to pay later will only be available if you link an invoice to your transfer. Partial invoices are accepted. Proforma invoices only from French or German suppliers are also accepted.
   ✅ You can choose to finance only part of the invoice amount.

3. Check that the transfer details are correct, then click Continue.

4. Enable Pay later. When you’ve ensured you’re happy with the payment schedule and total to be repaid, click Confirm.

And you’re done! By following these steps, you’ve successfully financed a purchase using Qonto’s option to pay later. ✅

☝️ You can find all of your supplier purchases financed with the Pay later feature in the Transactions section of your account, simply by applying the Credit transfer filter on the Method dropdown menu.

To monitor your available credit and repayment progress, go to Financing > Pay later from your web app, or Menu > Pay later from your mobile app.

Is there a minimum or maximum invoice amount for the Pay later feature?

Yes, your invoice must be at least €150. As for the maximum amount, it depends on your available and tailored credit limit, to a maximum of €100,000.

☝️ Good to know: You can also use proforma invoices from French or German suppliers if you don't have a final invoice yet.

How to monitor my Pay later financing and repayments?

You can find information about your available credit directly from your Qonto app at any time.

🖥️ From your web app: go to Financing > Pay later.

📲 From your mobile app: go to Menu > Pay later.

In this section, you will access a dedicated cockpit where you can monitor your remaining available credit and view your installments (”To pay within 30 days” and “Total left to pay”). You will be able to easily track how much credit you've used and how much remains (”Available credit”).

⚠️ Important: If an instalment can’t be debited from your account on the due date, you won’t be able to make any transfer from your Qonto account. If you find yourself in this situation, please ensure to top up your main account with the necessary funds and contact our client support. You will find more details in this article.

How can I get a financing statement ?

You can obtain a financing statement directly from your Qonto account on the web or mobile app.

To do this, go to the Pay later section, click on the relevant financing line and select "Generate statement". You will receive your statement by email within minutes.

How can I get financed if I don't have an invoice?

If you don't have a final invoice yet, you can still use Pay later with a proforma invoice from French or German suppliers.

A proforma invoice (also called a "pro forma" or preliminary invoice) is a document that suppliers provide before delivering goods or services. It contains the same information as a final invoice but is issued in advance to confirm the purchase details and pricing.

To use Pay later with a proforma:

• Ensure your supplier has a French or German legal entity
• Request a proforma invoice from your supplier that includes:
  • Supplier company details and legal information
  • Clear description of goods/services
  • Total amount (minimum €150)
  • Issue date
• Upload the proforma when initiating your transfer, just as you would with a regular invoice

Once you receive the final invoice from your supplier, keep it for your accounting records.

☝️ Good to know: If your supplier is not based in France or Germany, you'll need to wait for the final invoice to use the Pay later feature.

How do other Qonto credit products affect my Pay later available credit?

Qonto offers several credit products, Pay later, Overdraft, and Credit card, and activating one may affect your available credit for the others:

• If you already have an active Pay later contract and you activate Overdraft: your Pay later available credit will be reduced by your eligible Overdraft amount, provided your remaining Pay later credit is equal to or greater than that amount. You will be informed of this on the Overdraft activation screen.
• If your remaining Pay later available credit is less than your eligible Overdraft amount, you will automatically lose eligibility for Overdraft and will not see the option in your interface.
• If you have not yet signed a Pay later contract but are eligible, and you activate Overdraft or DDC: your Pay later available credit will adapt accordingly when you proceed to activate Pay later.
• There is no dependency between your DDC limit and your Overdraft limit, activating one does not affect the other.