Raise your invoice. Get paid. Easy.
With OmniPay you get paid within 1 day of your invoice being approved, improving your cash flow and allowing you to focus on growing your business.
Completely optional
You choose which invoices to finance (if any)
Improve your cash flow
Get your money out working quicker, allowing you to fulfil more jobs
No financials required
No financial information or personal/real estate security required
No effect on balance sheet
OmniPay is not a loan and does not impact your ability to obtain credit
GROW WITH OMNIPAY
Job done? Get paid now!
We know first-hand how difficult it is to grow a business. Managing cash flow and payment terms is tough, and can be the difference between success and failure.
GROW YOUR BUSINESS
Having cash you’ve already earned tied up in invoices means less cash to put towards your next order, or for materials and labour to win and complete your next job. Get your cash now and put it to work!
Approved today? Paid tomorrow!
With OmniPay we pay you 85% of your invoice within 1 business day of your customer approving it. The remaining 15% will be paid once your customer pays us (less a fee)
SAFETY NET
What happens if one of your customers runs into trouble or their payment terms blow out? Can you afford to be sidelined for 45-60 days while you wait for payment? With OmniPay, you no longer have to worry
For small companies like us working on large projects, OmniPay is awesome for cash flow.
Daniel M
…
DCS Concreting, Melbourne
Finance the OmniPay way
OmniPay is the first true win-win supply chain finance in Australia, with great benefits for both you and your customers. With OmniPay, finance is:
Collaborative
We’re not just another fintech sitting in the middle clipping the ticket; we work hand-in-hand with all parties to strengthen every link in the supply chain
Flexible
$10k or $10M. One invoice or thousands. Whatever works for you, works for us. No minimum commitment or lock-in contracts. Flexible finance the way it should be
Incentivised
We incentivise customers and buyers to pay invoices on time, which minimises the OmniPay fee payable by the supplier. Leaves us with less $ but happy supply chains!
Simple & easy to use
Whether you are requesting or approving OmniPay, all it takes is a couple of clicks in our mobile app or website
Always here to help
With offices in Sydney, Melbourne and Brisbane your local team is always ready to assist; in person or online
Transparent
No hidden fees, no surprises. No admin, joining, account-keeping or exit fees (we’re not a gym!). If you don’t use it, you don’t pay for it
WHAT DO YOU GET?
With OmniPay you receive 85% of the value of your invoices within 1 business day of your customer approving the OmniPay request. For example, if your invoice is for $100,000, you will receive $85,000 within 1 day. You then receive the remaining $15,000 when your customer pays OmniPay for the invoice (less a fee).
How much does it cost?
Most debtor finance companies never disclose their fees; however we are proud to provide transparent and inclusive rates so you always understand what the real cost is.
- There is an initial fixed fee of 3.5% of the invoice value, which covers the first 30 days the invoice is outstanding.
- If the invoice remains unpaid after the first 30 days there is an additional 0.07% per day until your customer make payment.
These fees are all inclusive. OmniPay does not charge any additional interest, penalties, arrangement fees or management fees, avoiding the typical hidden charges many other finance companies rely on in order to market a “cheaper” headline rate.
How it works
We realise that every business is different, so whether you want to finance just a few invoices or hundreds, we have made sure there’s an OmniPay solution for you:
If your customers are OmniPay Gold Partners, all you have to do is select the invoices you want early payment for, and the money is in your bank account within a day – it’s that easy!
Pre-approved Gold Partner
invoices ready for financing
invoices ready for financing
Option 1
If you are using Xero, myob or QuickBooks, we’ve got the solution for you! Simply connect your accounting software to OmniPay and you will be financing your invoices in no time!
Import invoices directly
from your accounting software
from your accounting software
Option 2
No matter what OmniPay option you use, we believe in making life easier for you, not harder. Simply drag and drop your invoices (or select the files from your favourite cloud storage) and we’ll take care of the rest. You can even follow the progress as your invoices are smart-scanned and the information is extracted!
Upload your invoice –
we’ll take care of the rest
we’ll take care of the rest
Option 3
– so your click today could mean money tomorrow. How’s that for efficiency?! And to make it even better, we provide you with your very own dashboard to keep track of all your finance requests. Easy!
We pay you within one
business day of your customer
approving your invoice
business day of your customer
approving your invoice
LET’S GET YOU PAID!
FIND AN ANSWER
Frequently Asked Questions
- What is OmniPay?
- What do I actually get?
- What is the OmniPay fee? How much does it cost?
- Does my customer or buyer have to pay the invoice any earlier?
- How is OmniPay different from other factoring, invoice discounting and supply chain finance products?
- If I join OmniPay, do I have to use it?
- Do I have to use OmniPay for every invoice?
- Do I need to put up any security or financials to access this product?
- Is OmniPay right for my business?
What is OmniPay?
OmniPay is a collaborative supply chain finance product that enables you to receive early payment of your approved invoices.
OmniPay means you can now be paid within 1 business day of your customer or buyer approving your invoice.
What do I actually get?
If you elect to use OmniPay you will receive 85% of the value of your approved invoice within 1 business day.
For example, if your invoice is for $100,000, you will receive $85,000 within 1 day. You then receive the remaining $15,000 when your customer pays OmniPay for the invoice (less a fee).
What is the OmniPay fee? How much does it cost?
Most supply chain finance companies never disclose their fees; however we are proud to provide transparent and inclusive rates so suppliers and subcontractors understand what the real cost is.
- There is an initial fixed fee of 3.5% of the invoice value, which covers the first 30 days the invoice is outstanding.
- If the invoice remains unpaid after the first 30 days there is an additional 0.07% per day until your customer makes payment to us.
These fees are all inclusive. OmniPay does not charge any additional interest, penalties, arrangement fees or management fees, avoiding the typical hidden charges many other finance companies rely on in order to market a “cheaper” headline rate.
Does my customer or buyer have to pay the invoice any earlier?
No. There is no change to when your customer or buyer needs to make payment; when OmniPay is used OmniPay provides the funding for the initial advance, and they then simply pay the invoice directly to OmniPay rather than you, on your originally contracted terms.
How is OmniPay different from other factoring, invoice discounting and supply chain finance products?
OmniPay relies on the collaboration between suppliers and customers. It is only offered with the support of the participating customer.
There are no joining, administration or management fees, and suppliers and subcontractors can choose which invoices you would like to be paid early for, even on an invoice-by-invoice basis.
If I join OmniPay, do I have to use it?
OmniPay is completely optional; if you join there is no requirement to finance an invoice, you can simply keep the option there in case you want to use it in the future.
Do I have to use OmniPay for every invoice?
No. You can choose which invoices you want to be paid early for, on an invoice-by-invoice basis. You can finance all, some or none; it’s up to you.
Do I need to put up any security or financials to access this product?
No. As OmniPay relies on the financial strength of your customer, there is no personal or real estate security required. The only security we require is the approved invoices you choose to finance.
Is OmniPay right for my business?
If in doubt, call a friend. While we strive to make OmniPay a great option for all, each business and situation is different, so you should consider whether the service is suitable to your needs, and where appropriate, seek professional advice from a financial adviser.