The PayCycle System

   

                           Retailer without PayCycle 

                           Retailer with PayCycle

 

Pay-Cycle Features for Retailers

  • PayCycle reduces the time you have to spend checking and paying invoices
  • PayCycle is free to use for all Independent Bike Dealers, you can join today with no commitment.
  • Your money is 100% secure at all times (all Payments are covered by your own banks Direct Debit Guarantee). 
  • Using the PayCycle system is like having your own purchase ledger clerk, your outstanding balances and invoice due dates are pre-loaded by your chosen suppliers. 
  • You can also get better payment terms or higher margins from certain suppliers. Create a login to see details on the Suppliers page.
  • You'll save a lot of time and trouble using the PayCycle automated system, giving you more time on the shop-floor, or maybe even riding your bike! Start taking better control of your cash flow today with PayCycle.

 

 

The Pay-Cycle Process

  • Retailers order goods with suppliers and receive goods and invoices from suppliers.
  • Retailers decide which suppliers they want to pay using PayCycle.
  • Suppliers provide electronic invoice details to PayCycle.
  • PayCycle provides retailers with a statement 10 days in advance of the Tuesday payment run
  • Retailers can Hold any or all of their invoices if they wish.
  • Retailers can also use the Hold feature to notify suppliers of any errors
  • PayCycle collects all the agreed amounts in one Direct Debit payment.
  • PayCycle passes the money to suppliers within 3-5 working days.

    NB - We recommend retailers try out Direct Debit payments with one supplier for a period of 1-3 months to make sure they are comfortable before using the portal to pay for multiple suppliers. Sort of like a Prologue.