PayItMonthly
- Company typePrivate
- Founded2015
- HeadquartersCheltenham, United Kingdom
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
PayItMonthly firmographics
Firmographics- Name
- PayItMonthly
- Legal name
- PayItMonthly Limited
- Website
- https://payitmonthly.uk
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
PayItMonthly industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Sales Financing (52222), Sales Financing (522220), Activities Related to Credit Intermediation (5223)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- E-commerce & Digital Checkout Installment Financing (FSAKAFAC)
- akta.pro secondary industries
- Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Marketplace & Platform Seller Payouts (FSAMAKAE)
Keywords
Where PayItMonthly is headquartered
LocationHeadquarters
- HQ city
- Cheltenham
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
PayItMonthly business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Credit Charges on Instalment Agreements: PayItMonthly charges a credit charge on loans extended to consumers. This is the primary revenue stream, calculated as a percentage of the loan value. The company also charges 0.9% credit charge on cancelled or recalled loans, and on reduced loan values.
- Partner/Merchant Fees: Merchants pay fees including an Initial Fee upon facility activation, Monthly Fees, and Agreement Set Up Fees. These constitute the B2B revenue side of the platform.
- Affiliates and Referrals: 10% commission of credit charge for each customer agreement when partners sign up through affiliate referral links, providing additional revenue generation through the affiliate ecosystem.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Interest-free consumer instalments: 2-12 monthly payments up to £6,000 per customer (varies by business plan) |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
PayItMonthly product offering
Product offeringCore offering
PayItMonthly operates a UK-based fintech platform that enables businesses to offer customers interest-free instalment payments (2–12 monthly payments) at checkout, with lending available up to £6,000 per customer depending on the merchant plan. The platform uses AI-powered credit decisioning (Pass Genie™), Open Banking affordability assessments, and credit reference agency data (Equifax, Experian, TransUnion) to underwrite loans, and integrates with merchants via official Shopify and Magento apps, an API, and bespoke Tech Team support.
Product overview
PayItMonthly is a single-product fintech platform offering interest-free instalment financing to UK businesses and their customers. The core PayItMonthly platform enables merchants to offer 2-12 monthly instalment payments at checkout with lending up to £6,000. This is supported by proprietary tools: Pass Genie™ (AI-powered approval enhancement) and an AI-driven credit decisioning layer. The company also operates an Affiliate Program for partner referrals.
Differentiator
Problem solved
Functional benefit
Products and services
- PayItMonthly (Core Instalment Platform) Tech-driven flexible finance platform enabling UK businesses to offer customers interest-free instalments of 2–12 monthly payments at checkout, with lending up to £6,000 per customer depending on the merchant's plan.
- Pass Genie™ Proprietary AI-powered approval technology that adds an extra layer of checks and uses alternative data points beyond traditional credit scores to help more customers get approved for instalment plans.
- Affiliate Program Referral program that pays affiliates a 10% commission on the credit charge for each customer agreement when a referred partner signs up, with lifetime commission, 60-day cookie tracking, and a dedicated affiliate portal.
Quantifiable outcome
- Merchants see +57% increase in sales after offering PayItMonthly instalments
- +3 more outcomes
Companies that use PayItMonthly
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
PayItMonthly technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability3 records
Feature4 records
PayItMonthly partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, secondary and strategic.
- ShopifycoreOfficial Shopify app integration enabling seamless checkout experience for Shopify merchants. Unique offering as an officially integrated instalment solution on the Shopify platform.
- MagentosecondaryMagento e-commerce platform integration supporting merchants with bespoke technical setups requiring custom integration beyond standard plugins.
- Bosch Car ServicestrategicBosch Regional Events partnership where PayItMonthly offers promotional incentives (£50 Amazon voucher, £20 Greggs gift card) to automotive service businesses that sign up as partners. Joint marketing and lead generation through Bosch's automotive service network.
- UK FinancestrategicPayItMonthly is a member of UK Finance, the trade association representing the UK banking and financial services sector. Membership provides industry representation and regulatory engagement.
- The Guild of PhotographerssecondaryAffiliate partnership with The Guild of Photographers allowing members to offer PayItMonthly payment options to clients. Members benefit from easy flexible payment options while photographers get paid instantly.
- EquifaxcoreCredit reference agency for credit checks, affordability assessments, and fraud prevention. PayItMonthly shares repayment history and conducts identity verification through Equifax.
- ExperiancoreCredit reference agency for creditworthiness assessments and customer data verification. Part of PayItMonthly's responsible lending framework.
- TransUnioncoreCredit reference agency for credit checks and identity verification as part of PayItMonthly's multi-agency credit assessment approach.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
PayItMonthly competitors and assessment
Company assessmentDirect peers
- Snap Finance: Snap Finance is a UK BNPL provider offering lease-to-own and instalment financing for retail and automotive sectors. It overlaps with PayItMonthly's higher-ticket and automotive verticals, particularly the Bosch Car Service network.
- Klarna: Klarna is the leading global BNPL provider offering interest-free and interest-bearing instalment payments at checkout. It is the most direct UK competitor to PayItMonthly, with overlapping merchant base, consumer offering, and AI-driven underwriting.
- Laybuy: Laybuy offers interest-free instalment payments in 6 weekly payments to UK and ANZ consumers. It directly competes with PayItMonthly in the e-commerce checkout instalment space with a similar merchant integration model.
- Zilch: Zilch is a UK-based BNPL and consumer credit provider offering interest-free instalment payments both online and in-store. It competes directly with PayItMonthly for UK retail merchants and consumer mindshare with an FCA-regulated model.
- DivideBuy: DivideBuy is a UK BNPL platform offering interest-free credit at checkout for higher-value purchases, typically up to £10,000 over 12 months. It competes with PayItMonthly in the long-tenor, higher-ticket instalment segment.
- Clearpay (Afterpay / Block): Clearpay is the UK arm of Block's Afterpay, offering interest-free pay-in-4 instalments at checkout. It is a direct competitor in the UK BNPL space, targeting similar retail merchants and consumers with a similar interest-free instalment model.
- Deko (formerly Pay4Later): Deko is a UK point-of-sale finance provider offering interest-free and interest-bearing instalment credit at retail checkout. It directly competes with PayItMonthly in the UK retail consumer credit space with multi-lender routing.
Emerging players
- Splitit: Splitit offers instalment payments using existing credit cards at checkout, with an issuer network model. While structurally different, it competes for the same UK merchant integrations and consumer instalment demand as PayItMonthly.
Broad incumbents
- Affirm: Affirm is a US-listed BNPL and consumer credit provider offering instalment payments at checkout. It is not directly active in the UK but competes with PayItMonthly's offering in adjacent markets and represents a comparable scaled BNPL model.
- PayPal Pay in 3 / PayPal Credit: PayPal's Pay in 3 and PayPal Credit products offer interest-free and interest-bearing instalment payments at checkout to UK consumers. As an incumbent payments giant, PayPal competes with PayItMonthly for merchant integrations and consumer mindshare.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
PayItMonthly social profiles
Digital presencePayItMonthly financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayItMonthly leadership team
Management profileNumber of profiles
Profiles2 records
PayItMonthly funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayItMonthly M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PayItMonthly
What does PayItMonthly do?
PayItMonthly operates a UK-based fintech platform that enables businesses to offer customers interest-free instalment payments (2–12 monthly payments) at checkout, with lending available up to £6,000 per customer depending on the merchant plan. The platform uses AI-powered credit decisioning (Pass Genie™), Open Banking affordability assessments, and credit reference agency data (Equifax, Experian, TransUnion) to underwrite loans, and integrates with merchants via official Shopify and Magento apps, an API, and bespoke Tech Team support.
Is PayItMonthly a public or private company?
PayItMonthly is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PayItMonthly founded?
PayItMonthly was founded in 2015. It employs 11 to 50 people.
Where is PayItMonthly based?
PayItMonthly is headquartered in Cheltenham, United Kingdom, in the Europe region.
How does PayItMonthly make money?
Three revenue lines are on record. Credit Charges on Instalment Agreements are the primary driver. The others are partner/Merchant Fees and affiliates and Referrals.
Who are PayItMonthly's main competitors?
Direct peers on record are Snap Finance, Klarna, Laybuy, Zilch, DivideBuy, Clearpay (Afterpay / Block) and Deko (formerly Pay4Later). Splitit is listed as an emerging player. Broad incumbents are Affirm and PayPal Pay in 3 / PayPal Credit.
Does PayItMonthly have an API?
No public API is recorded for PayItMonthly.
What industry is PayItMonthly in?
PayItMonthly's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAFAC, E-commerce & Digital Checkout Installment Financing, with a secondary code of FSAGABAN, Payouts, Disbursements & Mass Payments Infrastructure. Its NAICS code is 52222 and its SIC code is 6141.