iwocaPay invoice payments

iwoca specialise in providing small business financing and lending solutions. Here at QuickFile we help businesses to harness the information in their QuickFile account to apply for a loan from £1,000 to £500,000 (find out more).

iwoca also offer a Buy Now Pay Later option for trade customers called iwocaPay. With iwocaPay you get paid instantly on your invoices while your customer is able to spread their payments over 3 to 12 months.

Enabling iwocaPay on your account


Before you can use iwocaPay with your QuickFile account you will need to enable API access on your iwoca account and sign an addendum.

This needs to be done by emailing your account manager.

If you need to register or confirm that you are registered, you can do so by going to iwoca and logging in. Or if you don’t have an account, you can sign up here, too.

Unsure if you have API keys enabled already? Go to this page in your iwoca account. If you don’t have access, you’ll be asked to contact your account manager.

Simply email your account manager (or if you’re unsure who this is, you can contact their customer support) and request API account. This may take a short while to be enabled, but it’s usually pretty quick.

Signing the addendum

iwoca will ask you to sign an addendum for your account with them. This will come through as en electronic signature request through a third party platform such as Adobe Sign.

Retrieving your API keys

Once the addendum has been signed and confirmed, iwoca will reach out and confirm you’re good to go.

Retrieving your API keys

Your API keys are kept securely in your iwoca account under the integration credentials page.

You will be given the chance to generate or view your API token and a seller ID:

Now you need to copy these across to your QuickFile account. Once you’ve logged into your QuickFile account, go to Account Settings and select Manage Payment Providers. This will bring up a list of payment methods you can enable on your account.

Select “iwocaPay” from the left hand menu to bring up the settings.
Click on the “Setup iwoca integration” so you can enter the keys.

Copy and paste these from your iwoca account into your QuickFile account, and save.


Merchant account

Like many merchant accounts, such as PayPal, Stripe and GoCardless, the funds are first collected by the merchant and later deposited to your bank account. In these cases you will need to create a bank account in the Merchant account section which will show these pending funds.

“Pay Now” option

iwoca offers two payment options:

  • Pay now
  • Pay later

Pay now works using Open Banking, where your client authorises a bank transfer from their account. Your client will need to complete 3 simple steps -

  1. You’ll log into your online banking either on mobile or desktop
  2. Agree to a Bank Transfer
  3. Confirmation

If this option is disabled (unticked), your client will only see an option to split the payment.

What your clients will see

Your clients will be given the option to use iwoca by using the “Pay Online” option on their invoice, which can be accessed through the QuickFile client portal.
When they select “Pay Online”, they will see an option to “Pay Later” and be presented with the iwoca option

Clicking continue will take them to the iwoca payment page, where they can then select either the “Pay now” or “Pay later” option. iwoca will handle all this for you

How “Pay now” and “Pay later” affect your payments

There’s good news - neither option affects how you receive the payments.

As soon as your client checksout, iwoca will pay you via Faster Payment instantly.

With the “Pay Later” option, as soon as your client confirms everything with iwoca, they’ll pay you via Faster Payment within a couple of hours.

Interest charges

With pay later options, there’s usually an element of interest. This is a setting controlled within your iwoca account in your “Pay Links” section

You can choose to accept the charges and let your client use this option for free, or you can pass the charges to your client - all handled by iwoca.