Frequently-Asked Questions

• How much does Veripay cost?

• To use the Veripay service on a car loan costs as little as $1.55 per week incl gst for ON TIME rental and code distribution (based on a 48 month loan term with fees prepaid) plus a one off Activation fee. (includes installation and customer training)

  Many companies on-charge Veripay's fees to the borrower as a cost of credit, so savings go straight to the bottom line, creating an opportunity to offer more competitive interest rates.
  
  

• What guarantee have I got that Veripay works?

• Veripay is not a magic pill or a substitute for poor lending processes. The desired results are only achievable if due diligence is exercised by the lender when approving loans and the issue of receipt codes is tightly managed.

  Clearly, if a borrower doesn't have the income capacity to make regular loan payments or if they lose the use of their vehicle, Veripay will have no effect on the loan's performance.

  Where capacity, intention and incentive to pay does exist however, the service is extremely effective at making customers prioritise their car payments, regardless of past payment behaviour. To read customer testimonials, click here.

• What happens if the customer is experiencing an emergency and needs to use the car?
• Each customer is issued with an emergency code that can be used 3 times during the term of the loan contract.
  After 3 uses the emergency code no longer works. Each use of the emergency code lets the customer start the vehicle for 24 hours even though ON TIME has been set to immobilise mode.
• What is stopping customers from removing or disconnecting the ON TIME system?
• There is a big difference between a customer who can't (or doesn't) pay their loan installments versus one who is out to rip the lender off. Veripay deters dishonest customers from tampering with ON TIME by employing a number of very effective preventative measures. To find out what these measures are, request a demonstration
• What training is provided to the customer?
• After installation, each customer is either trained onsite or over the phone.
• Does Veripay use GPS technology?

• Yes, Veripay has a GPS division called VeriFind. Visit here to learn more.

  Veripay also assists lenders trace GNA customers, not just their vehicles. A number of GNA customers have been traced using Veripay's unique search methods where conventional tracing efforts have failed. To find out more about Veripay Tracing request a demonstration

To request a demonstration click here