Getting Started with Perpay Marketplace:
The following steps outline how to use the Perpay Marketplace:
Create Your Account: Create a Perpay Marketplace account to receive an estimated spending limit. Perpay does not perform a hard credit check with Experian, TransUnion, or Equifax to determine this limit.
Shop the Marketplace: Browse and shop for products from popular brands like Apple, KitchenAid, and PlayStation.
Submit Your Order: After adding items to your cart, check out and submit your order for review by the Perpay Approvals Team.
Set Up Payments: Once your order is approved, set up a payroll direct deposit to transfer payments to your Perpay account. Perpay does not withdraw funds directly from your paycheck; instead, it relies on your employer to deposit payments into your Perpay account.
Choose Your Payment Schedule: Select the number of payments you want to make over time.
Receive Your Order: If you are not eligible for instant shipping, your order will be processed for shipment after your first qualifying payment is received on your next payday. Orders are generally shipped within one week of receiving the first direct deposit.
Complete Payments: Payments will be processed from your paycheck on each payday, according to your payroll direct deposit allotment. Only you, in coordination with your employer or payroll provider, can change or cancel your payroll direct deposit.
Cancel Direct Deposit After Payoff: Once your order is paid in full, contact your employer or payroll provider to cancel any additional direct deposit payments to Perpay.
How Payments Are Processed
Perpay processes direct deposit payments on your actual payday. Once your payment is received, your account status is updated, and your order is prepared for shipment. Please note that account updates may take up to 24 business hours after a payment is received.
If a payment is not showing in your Perpay account, you should check your payroll system to ensure that the correct deposit details were entered. Perpay processes payments as they are received on your employer's payday schedule.
Benefits of Using Perpay
By setting up payments directly from your paycheck, you gain access to several benefits:
Personalized Spending Limit: Get a personalized spending limit to shop for your favorite products and brands without a hard credit check.
Zero Interest or Fees: Pay for your orders over time without incurring any interest or fees.
Credit Building: By enrolling in Perpay+, you can build your credit by making on-time payments while shopping for the things you need. Reported members see their credit score increase by an average of 32 points in the first three months.
Increased Access Over Time: With a good payment history, you may gain access to higher spending limits and lower payment amounts on future orders.
All Perpay Marketplace orders are non-recourse. This means the only consequence of not making all the agreed-upon payments for a Marketplace order is that you may lose the ability to make future orders on the Perpay Marketplace.
Ready to start using Perpay? Click here to get started!