General terms

SlicePay is service uniting hire purchase providers, merchants and customers. SlicePay provides access to new markets for hire purchase providers and merchants and simplifies applying for hire purchase for the customer. SlicePay does not finance purchases itself. Customer chooses hire purchase provider amongst SlicePay partners according to personal preferences.

1. Use of SlicePay service
  • 1.1. With provided API, the Merchant will set up SlicePay payment method to offer hire purchase.
  • 1.2. The Merchant has the right to set minimum amount that can be financed via hire purchase and it may vary by different merchants.
  • 1.3. Hire purchase provider will join SlicePay service via API.
  • 1.4. Hire purchase provider has the right to set conditions, under which circumstances it offers hire purchase. Hire purchase provider has the right to give negative answer to application.
  • 1.5. SlicePay acts as a central counterparty to Hire purchace providers and Merchants. Cooperation agreement will be signed both with Hire purchase providers and Merchants in order to use SlicePay service.
  • 1.6. SlicePay is a payment institution and is responsible for money transfer. According to contracts concluded, Hire purchase provider will transfer money to SlicePay bank account and SlicePay will transfer those amounts further to merchants.
  • 1.7. SlicePay service is free of charge to Merchant. The fee for intermediating money transfers will be paid by Hire purchase provider.
  • 1.8. After conclusion of hire purchase contract, the Buyer will start to pay amounts according to schedule directly to Hire purchase provider. SlicePay does not play any role in further communication between the Buyer and Hire purchase provider nor take any responsibility regarding fulfilling obligations by the Buyer derived from hire purchase contract.
  • 1.9. According to law the Buyer has the right to withdraw from hire purchase contract in 14 calendar days. SlicePay will not transfer money to Merchant before aforementioned time has passed.
  • 1.10. According to law the Buyer has the right to return the goods based on conditions set by the Merchant. If in result there is need to change hire purchase contract, then Hire purchase provider will communicate directly with the Buyer in order to make necessary amendments. If Merchant will return money to SlicePay bank account for goods returned, then SlicePay will return money to Hire purchase provider.
2. The process of financing with hire purchase
  • 2.1. The Buyer will choose goods in e-shop, add them to shopping cart and choose SlicePay as the payment method.
  • 2.2. The Buyer will fill in application for hire purchase and give right to send his data to Hire purchase providers that are SlicePay partners according to the region chosen by the Buyer.
  • 2.3. Hire purchase providers will send responses generally within minutes and the Buyer can choose the most suitable offer examining terms of the contract and based on parameters important to him.
  • 2.4. Throughout countries, the process of contract conclusion may vary. In countries, where digital signature is in use, the Buyer has possibility to sign contract digitally. In countries, where digital signature is not possible, the Buyer will confirm acceptance of the terms of the contract nad shall submit a declaration of intent to conclude contract making a money transfer from his personal bank account to SlicePay bank account. In addition the Buyer will load up a copy of his identification document.
  • 2.5. After verification of the identity of the Buyer has been performed and contract concluded, SlicePay will send out contracts to all the parties and Merchant can send out goods to the Buyer.
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