Frequently Asked Questions


What is NectarPay?

Customers love having options – especially when it comes to payment. NectarPay is a simple buy now, pay later product that allows your customers to split major purchases up to $25,000 into smaller equal weekly, fortnightly or monthly payments.

NectarPay has been designed to be simple to use for both your business and your customers. There is no training required and no technology to install. Our portal makes it easy for your team to initiate the finance process with your customers – which they complete on their mobile phone or home computer.

NectarPay covers the full cost of the good/service, i.e. there is no deposit required by the customer, and we provide flexible payment options from 6 months – 48 months.

Who is Nectar?

Nectar is a New Zealand based consumer finance provider. Nectar uses technology to provide an easier and faster way for people to access finance. Nectar provides finance options direct to consumers and through a network of brokers and retail partners.

What types of goods and services can NectarPay be used for?

All kinds. We work across most industries where customers require financing from $1,000 – $25,000. While there is no cost for becoming a NectarPay partner, we tend to work with Partners that generate $50,000 per month in financing.

How does the NectarPay process work?

Once you are set up to access the NectarPay partner portal, you can start the process by entering your customer’s name and mobile phone number. Your customer will receive a text message inviting them to apply for NectarPay. Your customer then completes a 7-minute application process through their mobile phone or home computer. Once completed, if approved the customer will receive a pre-qualified offer amount and be able to select from a range of repayments options. Nectar will then do a final underwriting process including affordability checks. This is usually done on the same day as the application. The customer then completes a digital contract from their devise and Nectar will make payment for the product to your nominated bank account.

Partners also have the option of integrating their own application form directly into the NectarPay system via API. Please contact your relationship manager to discuss this option further.

What are the fees/interest costs?

Nectar charges an establishment fee (see plus interest to your customer. Interest rates are between 8.95% p.a. fixed and 29.95% p.a. fixed depending on the customer’s credit grade. The wide range of interest rates means we are able to offer finance to a broad range of customers and maximise the chance of the customer being approved.

NectarPay also has an interest free product where the interest cost is absorbed by the partner. Please talk to your relationship manager for further information.

How do I log in to my account?

To view your account, visit our Partner Portal and log in with the credentials provided by your Relationship Manager.

How long after my client has been approved will the funds be in my account?

Nectar strives for the shortest funding period possible. Typically, funds will arrive within 1 business day of finance documents being signed.

How quickly can a client apply for and finish the financing process?

Our application process is fast and simple, and takes about 7 minutes to complete and receive a pre-qualification. After this, the application will undergo our review process, which is usually completed on the day of application.

How long after signing the loan documents will my customer's first payment be due?

Nectar’s payment cycles are aligned with your customer’s pay cycle (i.e weekly, fortnightly or monthly). If the customer’s next pay is within 7 days it is moved to the next pay cycle. Our disclosure agreement provided to the customer has all the necessary details.

Why was my client declined?

While Nectar works to maximise approvals, as a responsible lender we may not be able to approve a customer for a number of reasons, including a low credit score, they cannot meet the required repayments, or other reasons such as unpaid accounts.

How do I review the applications that have been submitted?

All applications can be viewed from your Partner Portal. In the Portal, click “All Applications” to see every client that has applied for funding and their status. Once a customer is approved they will be moved to Funded Applications.

How do I explain the establishment fee to my clients?

Our establishment fee is how we keep costs low for your business and fund you quickly, and allows us to approve more customers than many other finance providers. If a client asks, explain it to them as a one-time fee that is already bundled in with their weekly, fortnightly or monthly payment.

What's the difference between a credit card and a NectarPay loan?

Credit cards work through a revolving line of credit, which is a line of credit that automatically renews as it gets paid off. A NectarPay loan is an unsecured loan, which is a single line of credit that is only valid for one transaction.

What's the difference between a secured and an unsecured loan?

Secured loans are made with collateral, which the lender typically holds as a guarantee against payment. Unsecured loans are made without collateral. All NectarPay loans are unsecured, which means a faster loan process and more approvals for you.

What does the “status” message on my customer’s application mean?

SMS Sent: The customer has received their SMS link to apply with NectarPay.

Application started: The customer has registered with NectarPay and has started their application.

Bank statements received: The customer has completed our automated banking information process (or manual process if they have selected this option).

Under Assessment: The application was completed successfully and is being assessed by our Lending Team.

Funded: The customer has signed their contract and the process is complete. You will usually receive payment within 1 business day.

Declined: The application was unsuccessful.