What is PayPlan?

Audience: All Users (Starter, Core, Pro, Enterprise)

Topic: Platform Overview

Overview

PayPlan is the engine that powers your financing program. It is a comprehensive platform designed to handle the entire lifecycle of a loan, from the moment a borrower applies, to the final payment they make to clear their balance.

Whether you are a retail merchant using PayPlan to close more sales, or a financial institution to manage complex risk, PayPlan gives you the visibility and tools to originate, underwrite, and service loans in one place.

Key Capabilities

1. Taking Applications & Making Decisions (Origination)

This is where the relationship begins. PayPlan allows you to accept applications digitally and decide who gets approved.

• Flexible Workflows: You can set the system to approve applicants automatically based on your rules, or hold them for a manual review by your team.

• Dynamic Offers: Optionally present the borrower with multiple choices. For example, you can let them choose between a 12-month or 24-month term based on what they can afford.

• Third-Party Data: We integrate with trusted services (like Plaid and Experian) to verify income and identity instantly, so you aren't guessing about an applicant's ability to pay.

2. Managing the Paperwork (Document Center)

Forget filing cabinets. PayPlan acts as a centralized repository for all your compliance documents and contracts.

• Dynamic Templates: The system automatically inserts the borrower’s name, loan amount, and due dates into your agreements.

• Smart Logic: It can include or exclude specific contract clauses based on the application details (e.g., adding a specific clause only for customers in a certain state).

3. Getting Paid (Servicing & Processing)

Once a loan is funded, PayPlan helps ensure you collect the revenue.

• Automated Payments: The platform integrates with processors like PayLiance to handle ACH and Credit Card payments, including Auto-Pay schedules.

• Smart Retries: If a payment fails, the system automatically runs logic to retry the transaction, saving you from making collections calls.

• Real-Time Dashboard: View scheduled events, payment history, and delinquency insights instantly.

4. Staying in Touch (Communications)

Keep your borrowers informed without lifting a finger.

• Automated Alerts: Trigger emails and SMS messages automatically when an application is approved, funded, or if a payment is missed.

• Customizable: You control the message templates to ensure they match your brand voice.

  

5. Control Who Sees What (Permissions)

PayPlan uses "Role-Based Access Control" (RBAC). This means you can give your Managers full access to approve loans and view data, while giving Sales Associates limited access just to view applications.

The Loan Lifecycle: How it Flows

Every application in PayPlan moves through a standard "Lifecycle." Here is what those stages mean for your operations:

Integrations: Connecting Your Tools

PayPlan connects with third-party vendors to handle things like credit reporting, marketing, and tax compliance.

Note: Some integrations are only available on specific packages. Additional integrations can be available upon requests.

Scalability: Growing With You

PayPlan is designed to grow. You might start with a single product on the Starter tier, but the platform is built to handle enterprise-level complexity.

• Multitenancy: We can support multiple brands or store locations under one account.

• Configurability: As you grow, you can tailor your rules, documents, and payment logic to fit new products.

• Security: We protect your customer data with PII encryption and compliance-ready audit logs.