Credit limit solution
No interest is charged on Zevoy’s credit card solution. Zevoy acts as the creditor, and billing for the used company-specific credit and user charges takes place on the first business day of the month with a 14-day payment term.
We always assess our customers' creditworthiness and credit limit on an individual basis. The application is submitted digitally as part of the customer application (KYC process) during onboarding. The credit limit may be applied for by registered companies, associations, and foundations whose credit history and financial standing meet our approval criteria.
Organization's available credit limit updates once the payment for the latest invoice has been credited to your Zevoy account. It usually takes 1–2 business days for the payment to transfer and clear.
Please note that paying the invoice only restores the limit by the amount paid. If organisation's employees have already made new purchases after the billing period has turned over, they will reduce the available credit limit.
Example: Organisation's total credit limit is €10,000. The previous month's invoice is €3,000, and employees have already spent €2,000 during this month. Once the latest invoice is registered as paid, the available credit limit will increase to €8,000 (not to the full €10,000).
Billing options
Zevoy also offers an alternative cardholder-level billing model instead of a consolidated company invoice. In this model, the invoice is sent directly to the cardholder's email, but the ultimate payment responsibility always remains with the company (employer). If the cardholder fails to pay the invoice despite reminders, the responsibility shifts to the company.
A €1 billing fee per invoice is applied for cardholder-level billing.