Guide for the loan web (Raðgreiðsluvefur) for merchants
SaltPay instalments gives your customers the option to distribute their payments up to 36 months or give them 14 days grace period. All VISA or MasterCard cardholders can get instalments through a SaltPay’s merchant. Instalments are an easy, secure and efficient way to distribute payments. It is easy for employees to create the instalment on our loan web radgreidslur.is and an electronic agreement from the loan taker is sufficient and therefore paperless which makes the process eco-friendly.
How does the loan web work (radgreidslur.is)?
The loan web allows you to give your customers the option to distribute their payments.
See further instructions:
Step 1: Start by inputting the total amount of the sale. Next the type of instalment is selected. The default due date is the 2nd of the next month.
Then you select the loan period depending on how the customer wants his debt load/burden. The key numbers of the loan will be automatically updated and shown in an accessible manner. The Social Security Number (kennitala) of the cardholder is inserted and his information is automatically gathered from the national register (Þjóðskrá). Then finally you add their phone number and e-mail address.
The employee completing the instalment on the web must get an agreement from the loan taker to check his credit rating score “lánshæfismat” with Creditinfo. Finally the card information is entered.
Step 2: Next the loan taker must approve the instalment. The agreement can be electronical (through electronic ID) or with a signature. If the loan taker request to sign the contract it must be in two copies and both of the copies are signed by loan taker and employee.
The instalment procedure is now finished and if confirmed, a copy of the contact with information about the instalments will be sent to his email address.