Advance Credit In App
Requesting Advance Credit from PrepayPower is as easy as 1-2-3.
What is Advance Credit?
It is a credit allowance you can request directly from us. Instead of paying immediately, you repay the Advance Credit gradually from future top-ups. You can request a top-up amount of €10, €20 or €30 and choose a Payback rate of either 10% or 25%. The Payback rate (%) gets deducted from the value of later top-ups until you’ve repaid the Advance Credit in full.
Advance Credit Example
You activate €20 Advance Credit with a Payback rate of 25% through your app. You use this credit and you decide to top up next by €20. We deduct 25% of that amount (25% of €20 = €5) to pay down the owed Advance Credit. You now owe €15 for Advance Credit, and the remaining €15 from the top-up is added to your account balance.
Activate Advance Credit in Your App
When your balance is running low, you will see an option saying "Advance Credit is available" on the home screen of your app. Click on that option.
Select Your Top-Up and Repayment Options
Choose the amount of Advance Credit that you want to Top Up. You can select, €10, €20, or €30. Choose your PayBack Rate, you can select either 10% or 25%. Click on "Agree & Continue".
Advance Credit Applied
The next screen you see will confirm to you that the Advance Credit amount you selected was applied to your balance and also confirm your PayBack rate.
New Balance Confirmed
The Home Screen in your app will then update with your new balance. If you want to see how much Advance Credit you have to repay, click on the "Advance Credit is active" option.
Repayment Details
Once you click on the "Advance Credit is active" option you'll be brought to this screen. Here, you can see the amount of Advance Credit that remains to be repaid, your PayBack rate, and how many more Top Ups you will make before it is repaid.
