EveryPay helped short-term loan provider Peachy to enhance their product

Posted on April 25, 2018 | no comments


EveryPay, smart payment gateway solutions, helped short-term loan provider Peachy.co.uk to enhance their product and reduce fraud. Peachy offers a flexible loan product in the UK. The company has grown rapidly: with 2 million consumers on their database, and more than 500,000 loans already issued worth more than £75 million. Fast cash-flow, no fraud, and easy identification. The goal of the company is to make the service as seamless as possible for consumers, whilst also being compliant with the UK Financial Conduct Authority.


  • Cash-flow improvement
  • Improve customer sign-up process and reduce customer service workload
  • Reduce fraud rate
  • Increase the performance of debt collection.

Fast facts of Peachy:

  • CUSTOMER BASE: 2m consumers in the database
  • LOANS ISSUED: more than 500 000 loans
  • LOANS ISSUED AMOUNT: more than £75 m

Founded: 2011
HQ: Manchester, UK

EveryPay is the fastest growing payment gateway in Northern Europe, focusing on smart payment gateway solutions for companies of all sizes: from large multinationals to localised eCommerce merchants. Along with easy integration and excellent support, EveryPay offers an instant settlement, competitive fees, one-click-payments, subscriptions, link-based payments, functionality to support top-ups, digital wallets, card identification, and a flexible fraud detection engine.
EveryPay’s payment solution can help a company to improve their cash flow, reduce customer service and debt collection agents’ workload, and also detect and prevent fraudulent activities.

Four main challenges:

Previously it took Peachy at least three days to receive settlements from their payment gateway. This tied up a lot of assets and created delays.
Peachy was experiencing fraudulent cases on a daily basis.
Peachy was unable to detect whether a customer was using a debit or a credit card to make repayments: it is against the law to make a debt repayment with a Credit Card in the UK.
By using EveryPay LinkPay, Peachy has been able to improve the performance of internal debt collection significantly.

What was the solution?

Cash flow. With EveryPay, Peachy are able to instantly see whether a payment was successful, and receive all payments the next calendar day, every day of the year. If the collection was unsuccessful, then by having a card token, Peachy has the option to initiate the payment again, either in a few hours or days, until the collection is successful. This improved cash-flow gives Peachy a major advantage in the financing industry.

Fraud was initially a major issue to tackle for Peachy. For example, loan applicants using fake data, or applying for their loans from unsupported countries. By using EveryPay’s fraud module, the amount of fraudulent cases dropped dramatically, as Peachy was able to fine-tune the fraud rules according to their specific needs: including geo-blocking, or only allowing specific card types, and also setting a capture delay on their payments (allowing for a thorough Fraud check before releasing funds). In addition to decreasing fraud, this has also enabled the company to save on credit data costs as fraudulent applications have been identified in an earlier state of the loan application.

Card type check needed to be an integral part of the new system, since in the UK it is illegal to pay your loan with a credit card. For this reason, when applying for a Peachy loan, customers need to enter their card details. Until EveryPay’s solution was implemented, Peachy had to wait until the whole application process was completed in order to understand whether the customer was using a credit card or debit card. This resulted in time wasted both for the customer and Peachy. With EveryPay, once the client enters their card details, the system will tell the customers right away whether it’s a credit or debit card. This saves a lot of time, frustration and increases the number of successful loan applications.

Increased performance of debt collection by using EveryPay’s unique product LinkPay. Instead of asking the customer to log in to an account and make a payment, Peachy can send a payment link via a text message or email where the customer can enter its card details with ease and convenience. This has improved the collection of overdue debts where automated collection attempts are not allowed by the regulator.

Additional key benefits:

  • EveryPay´s Tokenisation: which allows your customers to securely save a card, and encourages repeat payments with ‘one-click checkout.
  • EveryPay´s subscription Payments:  allowing you to take payments at any interval you agree with your customers – a perfect product for any fees charged on a regular basis.
  • Simple integration + world class ongoing support: saves time and resources switching to EveryPay.
  • EveryPay LinkPay is a useful tool for all types of businesses: allowing you to accept online card payments without any need for IT development or even a website. Our platform allows you to create a payment link with predefined details, and simply post it to your customers via email, text message, social media, or even a QR code. Use-case scenarios with LinkPay are endless. 

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