Ayan Pay | Frequently Asked Questions

How does Ayan Pay make money?

Ayan Pay charges a small merchant fee to businesses that offer our financing solutions. This allows us to provide customers with interest-free options without charging additional fees to you.

Is Ayan Pay FCA regulated?

No, Ayan Pay's financing is an unregulated form of credit. However, as a responsible provider, we comply with relevant legal requirements, including those set out by the Financial Conduct Authority (FCA). These requirements are critical to abide by even by our partners.

Is Ayan Pay Sharia-compliant?

Yes, Ayan Pay offers Sharia-compliant financing, which means no interest is charged.

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What is Ayan Pay?

We understand that some expenses can be unexpected, but with Ayan Pay, you can get the work done now and pay later. Ayan Pay allows you to spread the cost of repairs or improvements into smaller, interest-free monthly payments. You can choose to pay in 3, 6, 9, or 12 instalments within 12 months, helping you keep control of your finances.

Ayan Pay is credit that is not regulated by the Financial Conduct Authority. Please use Ayan Pay responsibly and ensure you can make repayments on time. T&Cs and eligibility criteria apply.

Who is Ayan Pay?

Ayan Pay is a financial service offering interest-free Buy Now Pay Later (BNPL) solutions to help customers manage the costs of services. We allow you to spread payments over time, ensuring affordability without the burden of interest.

Am I eligible for Ayan Pay?

To be eligible for Ayan Pay, you must be at least 18 years old, a resident of the UK, and able to pass our identity and credit checks. You’ll also need to have a valid UK bank account for direct debit payments. Subject to T&Cs.

How do I apply for Ayan Pay?

If you're looking to finance your spend of £100 or more with one of our partner merchants, you can inform them that you would like to choose the Ayan Pay option, or you can apply directly at our website. You’ll be asked to provide a few basic details and apply with no impact on your credit score.

How do I find businesses that accept Ayan Pay?

To find businesses that accept Ayan Pay, visit our website to discover participating businesses near you.

How does Ayan Pay work?

Once you apply on the website for the desired amount and term and your application is approved - Simply proceed with your purchase and pay the initial instalment upfront. After that, Ayan Pay will send you a confirmation email with your payment plan details and instalment dates. You’ll receive reminders 3 days before each payment is due to ensure you’re always informed.

How long does it take to apply?

The application process is quick and straightforward, typically taking just a few minutes. You’ll only receive a decision once you submit your details.

How will I know if my credit agreement has started?

You will receive a confirmation email with the details of your credit agreement once your application is approved and the plan has been set up.

Is a Credit Check required?

Ayan Pay conducts a soft credit check when you apply for our Buy Now Pay Later credit, which won’t affect your credit score. We report regularly on the status of agreed payment plans, and staying up to date with your payments can positively impact your credit score. Late payment and non-payment may negatively impact your credit score.

What cards do you accept?

We accept most major UK debit cards. We do not accept credit cards for setting up payments.

What does it cover?

Ayan Pay’s interest-free plans can be used to cover a wide range of services subject to the participating merchants.

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Will I be asked to answer security questions when applying for finance?

Yes, during the application process, you may be asked to answer security questions to verify your identity and protect against fraud.

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Can I change my payment dates?

At this time, payment dates are fixed based on the schedule provided during setup. If you need to adjust your dates, please contact our customer service team, and we’ll try to assist where possible.

Can I have more than one plan?

Yes, as long as you pass our eligibility checks and your previous payments are up-to-date, you can apply for more than one payment plan with Ayan Pay.

Can I pay in full earlier?

Yes, you can pay off your remaining balance at any time without any penalties. Simply contact us to arrange full repayment.

Choose the plan that works for you

You can choose to split your payments across 3, 6, 9, or 12 months. The first payment is taken immediately as a deposit, and the subsequent payments are at one month intervals from the date of the first payment.

Do I have to pay a deposit?

Yes, a small deposit that is your first payment is required at the time of purchase, which is followed by interest-free monthly payments.

How are my payments taken?

Payments are automatically taken from the bank account linked to your direct debit. You’ll receive a schedule of payments when you set up your plan.

How much interest will I pay?

Ayan Pay offers interest-free financing. You will not be charged any interest or fees on the amount financed.

What are the minimum and maximum spend levels?

Our payment plans are available for purchases starting from £100, with the maximum limit depending on the merchant and the type of service or product.

What is the cost of choosing Ayan Pay?

There’s no cost or interest when you choose Ayan Pay. Ayan Pay offers a way to break your costs into manageable monthly payments, with no hidden fees and no interest charges.

What payment plans do you offer?

We offer plans up to 12 months depending on the total amount of the purchase, the deposit, and the credit checks. Subject to participating merchants.

How do refunds work if I return an item or cancel a service?

If a refund is processed by the merchant, Ayan Pay will adjust your remaining payments or refund any amount already paid based on the refund policy of the merchant. If the refund covers the entire amount, no further payments will be required.

What happens if I am late with a payment?

Late or Missed payments may affect your ability to use Ayan Pay in the future and may have a negative affect on your credit score which may make it harder for you to obtain credit in the future. We may also pass unpaid debt to a debt collection agency.

What happens if I want to delay my payment date?

You can reach out to us at team@ayancapital.co.uk with your specific circumstance and we will make any possible option available to you.

What happens if the service or goods I paid for are unsatisfactory?

If you have issues with the product or service you financed through Ayan Pay, please contact the merchant directly to resolve the issue. Ayan Pay provides the financing but is not responsible for the quality of goods or services. If a refund is issued, the amount will be adjusted against your payment plan.

What should I do if I am unable to make a payment this month?

If you are unable to make a payment, contact us immediately. We’ll discuss your situation and find the best way to manage the issue.

Who do I contact if I have a complaint?

If you have any complaints, please reach out to our customer service team at team@ayanpay.co.uk. We take all feedback seriously and aim to resolve any issues promptly.

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Ayan Pay for merchants

Getting started and usage

Financial aspects and payments

Support and risk management

How does Ayan Pay work for my business?

Ayan Pay allows your customers to split their payments into interest-free instalments. You receive full payment upfront (minus a small merchant fee), while your customers benefit from spreading their payments over time. This makes high-ticket items more affordable and can help increase conversions and customer satisfaction.

How will Ayan Pay benefit my business?

Ayan Pay can help increase your sales by offering customers flexible payment options. This makes high-value purchases more accessible and can improve customer satisfaction and loyalty. Additionally, you’ll receive full payment quickly, reducing cash flow delays.

What types of businesses can use Ayan Pay?

Ayan Pay works with a number of businesses and service sectors. You can register your interest in offering Ayan Pay on our form and our team will reach out to discuss the benefits of partnership and how we can help you enhance customer engagement and drive sales.

Are there marketing guidelines I need to follow?

Yes, Ayan Pay provides marketing guidelines that you’ll need to follow to ensure consistency and compliance. These guidelines cover how to use our logo, branding, and messaging when promoting Ayan Pay to your customers.

How do I get started with Ayan Pay?

Getting started is easy. Simply sign up on our website, and our team will reach out to you with next steps.

How do I sign up as a merchant with Ayan Pay?

You can sign up by visiting our website and filling out the merchant application form. Our team will reach out and guide you through the onboarding process and provide all the necessary tools to help you offer Ayan Pay.

How do refunds work if a customer returns goods or cancels services?

If a customer cancels a service or requests a refund, you’ll need to process the refund in accordance with your policy. The refund amount will be credited to Ayan Pay, and we will adjust the customer’s payment schedule or refund them directly. You are required to notify Ayan Pay of any refunds promptly.

How much does it cost to offer Ayan Pay?

Ayan Pay charges a small merchant fee based on the transaction value. The fee structure is transparent, with no hidden costs, and it helps us provide interest-free payment options to your customers.

How will I get paid?

Once a customer makes a purchase using Ayan Pay, you will receive payment within 24 working hours (minus the merchant fee) on producing the invoice, provided that such invoice has been duly approved by the customer and all conditions precedent have been satisfied.

Ayan Pay handles the payment collection from the customer, so you don’t need to worry about chasing payments.

Do I need to perform any credit checks on customers?

No, Ayan Pay handles all credit checks, fraud risk management, and payment collections. You simply offer the financing option, and we manage the rest.

What customer support is available for my business?

Ayan Pay provides dedicated merchant support through email and phone. We’re here to help you with any questions about using Ayan Pay, integrating our service, and resolving any customer issues related to financing.

What happens if a customer misses a payment?

If a customer misses a payment, Ayan Pay manages the collection process. We will communicate directly with the customer and handle any issues regarding late payments. You will not be affected, as you’ve already received full payment upfront.

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