We make commerce more affordable in a platform designed to serve the ones who benefit the most from responsible access to credit.
150 Beach Road, The Gateway West, Level 35, Singapore 189720
For the avoidance of doubt, OctiFi does not provide any credit to the user and the Pay Later Service does not constitute a lending or credit facility.
There are no interest charges with Pay Later, and no fees when you follow your automatic payment schedule. However the issuer of your card may charge interest or other fees under the terms of your card agreement.
If you fail to make the scheduled payment on the due date, we will provide you a courtesy 2-day grace period so that you can update your payment method or ensure enough funds are available on your selected card.
If you fail to make a payment by the end of the courtesy grace period you will be charged a late fee per failed scheduled payment. The late fee starts at S$15 for order values up to S$999.99 with an additional S$15 fee for every S$1,000 increase in order value.
In order to be eligible for the Pay Later Service, you must:
By using the Pay Later Service, you represent and warrant that, you meet our eligibility requirements at any time, and that you agree to and will abide by all of these terms. OctiFi reserves the right to deny, suspend or terminate the Pay Later Service if we believe you do not meet our eligibility requirements.
If we are unable to charge your selected payment method for the amount due on your due date we will provide you a courtesy 2-day grace period so that you can update your payment method or ensure enough funds are available on your selected card. If you update your card, we will attempt to collect the late payment immediately. Otherwise we will attempt to charge your original card or previously added card(s) again after the two-day period. It is important you ensure enough funds are available to complete your payment on the due date.
If you fail to make a payment by the end of the courtesy grace period you will be charged $15 late fee, and unable to make new purchases using the Pay Later Service. We may continue to attempt to collect overdue and currently due payments, or invoice you separately for the unpaid total.
You will be in default if you: (a) fail to make any payment by due date after any applicable grace period(s); (b) become the subject of insolvency or bankruptcy proceedings; (c) supply false, misleading, or incorrect information to us; or (d) violate or are unwilling to comply with any provision in these terms.
If you are in default OctiFi may: (a) charge the outstanding balance on your purchase immediately, using any card we have on file for you or by a separate invoice; (b) employ a debt collection agency to receive payment and you will have to pay all reasonable costs (including attorney’s fees) incurred by OctiFi and/or the debt collection agency; and (c) report default information to credit bureaus.