Wayflyer offers two different methods of repayment, a variable repayment method based on a percentage of your earned revenue and a fixed repayment method. Both payment options are not always available for clients based on the funding offered, so be sure to check your offers to make sure you are agreeing to a repayment method that fits your needs.
Variable Repayment
Your repayment amount varies based on your actual sales.
How it works:
Wayflyer collects a percentage of your earned revenue by calculating a Daily Remittance Percentage. This is calculated based on the total revenue your company earned based on all connected platforms with Wayflyer.
Benefits:
Repayments automatically adjust with your revenue
Lower sales = lower repayments, Higher sales = faster repayments
Cash flow protection during slow periods
Example calculation:
If your collection rate is set to 10% of your daily revenue and you earn $10,000, you will be debited for $1,000. If the following period you only earn $5,000, you will be debited for $500.
Fixed Repayment
Your repayment amount stays the same regardless of sales fluctuations.
How it works:
Wayflyer collects a set amount on a set schedule determined during the offer stage. The repayment amount is collected for a set period of time.
Benefits:
Predictable cash flow planning
Know exactly how much will be debited and when
No surprises based on sales spikes
Example calculation:
If your collection rate is set to $1,000 every week, you will be charged $1,000 every week regardless of how much revenue you earned that week
Understanding multiple advances
If you receive additional funding while still repaying an existing advance, your repayments can be structured in two ways:
Stacked repayments
Each advance is independent with its own separate repayment rate.
Example:
Advance 1: 10% of daily sales
Advance 2: 15% of daily sales
Total daily repayment: 25% of sales
Note: Fixed repayment advances will always be stacked should you apply for additional funding.
Blended repayments
The most recent advance determines your repayment rate, which covers both advances.
Example:
Advance 1: 10% of daily sales
Advance 2: 15% of daily sales
Total daily repayment: 15% of sales (based on most recent advance)
How payments are collected
Repayments are automatically withdrawn from your designated business bank account through secure payment systems:
By region:
United States & Canada: ACH (Automated Clearing House)
United Kingdom: BACS Direct Debit
Europe (EMU): SEPA Direct Debit
Australia: BECS Direct Debit
Authorization:
When you sign your funding agreement, you authorize Wayflyer to collect repayments via direct debit. This mandate allows us to automatically withdraw the agreed amount on designated collection days.
Ensure your designated bank account has sufficient funds to cover daily repayments, and you have authorized these debits from Wayflyer. Failed payments and canceled mandates may trigger follow-up from our collections team.
Tracking your repayments
In your Wayflyer account:
Log into app.wayflyer.com
Navigate to the Advances or Tranches tab
View detailed repayment information including:
Total amount repaid to date
Remaining balance
Recent payment history
Estimated payoff date
Breakdown of capital vs. fee repaid
Email updates:
You receive notifications for each repayment collected, including the amount, date, and remaining balance. If you would like to adjust the email address these notifications are sent to navigate to the bottom left corner of your account and click into the settings. There you can adjust your billing email address in order to update who receives these notifications.
Frequently Asked Questions:
Are there any prepayment penalties?
You can pay off your advance early without any additional fees or charges. If you are on a variable repayment plan and your business performs better than expected, you simply repay faster. If you would like to manually initiate this, reach out to your Wayflyer representative to request a manual payment, including the amount you would like to paydown, as well as if it can be debited from your connected account, or if you require an alternate payment method.
What happens if I don’t pay back my advance by the anticipated end date?
For variable repayment plans repayments are based on your sales performance, so there are no penalties if sales are slower than forecasted. Your repayment timeline simply extends (except where longstop dates apply).
How do you calculate my revenue for variable repayment plans?
Wayflyer monitors your connected sales platforms (Shopify, Amazon, etc.) to calculate your daily repayment amount for percentage-based repayments. If you do not use an eCommerce platform we will calculate your revenue based on connected banking accounts and accounting platforms.
How frequently will I be charged?
Repayments can be scheduled daily, weekly, bi-weekly, or monthly. The offer you receive from Wayflyer will only be eligible for certain payment cadences, so be sure to check what cadence your repayments will be on when accepting your offer.
If you are accepting additional funding, blended additional offers will only be available in the same billing cadence as your previous offer, but stacked offers can have different billing cadences.
Billing will not occur over weekends or bank holidays, so if you are on a daily repayment schedule, or if a scheduled repayment day falls on a holiday, these debits will occur the following business day.
Is it possible to have remittance caps on variable repayments so I am not charged too much when I have a revenue spike?
Some offers may include a remittance cap, but these are only offered in specific circumstances. Check with your account representative for eligibility.
Remittance caps with Wayflyer are cumulative and increasing over the life of an advance. You will have set amounts for billing periods where you can not be charged more than a specified amount for that period. If you do not hit your cap for the preceding period, any unused portion will carry over to the next period.
For example; An advance with repayment caps has daily repayments with a weekly remittance cap of $10,000.
The first week you earnings far exceed your projections, so your revenue hits the $10,000 remittance cap for the first 3 days of the week, you are no longer charged remittances for the remainder of the week
The second week is slower, and over the entire week you only pay $7,000 in remittance payments for the week.
The third week sees high revenue again, because of the lower previous week you are charged a total of $13,000 in remittance payments before you reach your cap; $10,000 for the current week, and $3,000 remaining in the cap from the previous week.