PAYMENT & FINANCING
Our payment and financing methods available
during the checkout process
Important information
Card Payment
You can pay by credit or debit card online and also when buying at the MATE Showroom in London. We accept all credit card and debit card payments via Visa, MasterCard including American Express through PayPal for which you don’t need to have an account.
Your credit card details are transmitted securely via an SSL-encrypted form. If you purchase your bike or accessories online by debit or credit card, the amount will be taken at the point of purchase.
Please ensure your card limit, as well as your daily and monthly transaction limit, are sufficient, otherwise, your order will not be successful.
At checkout select PayPal and scroll down and click the ‘Debit or Credit Card’ button and you can enter your card details.
Newpay
Our partnership with Newpay offers flexible finance option provided by NewDay. With it, you could enjoy a credit limit of up to £5,000 to spend everywhere you see the Deko and Newpay in the checkout, along with various payment plan options – an instalment plan, flexible credit. So, you can repay the balance however suits you best. Just bear in mind, the interest rate, credit limit and payment plans you’re offered will be based on a credit check.
Newpay FAQ
Tell me more about the application process…
Can I apply for Newpay?
Anyone can apply for Newpay, as long as you:
Are 18 years or over and have a regular income
Are a permanent UK resident and have lived in the UK for the last 12 months (unless you are HM Armed Forces Personnel)
Have a current UK bank account
Have a valid email address and mobile phone number
Don’t have an existing Newpay account
Can I still apply if I have bad credit?
Of course, but just be aware that not everyone will be accepted for it. It’s worth remembering that NewDay will have to run a credit check as part of your application. So, your credit score will be taken into account when NewDay decide if you’ll be approved for Newpay.
When will I find out if I’ve been accepted for Newpay?
It should only take 5-10 minutes to apply, and you should find out straight away. There are occasions where NewDay might refer the decision to an underwriter to assess. If this happens, they might contact you for a bit more information before they decide if you’ve been accepted.
Will you do a credit check?
Yes, NewDay will always carry out a credit search. They run a no risk eligibility check first though, to tell you if they think you’ll be eligible for Newpay.
Will my credit rating be affected?
The first no-risk eligibility check won’t affect your credit rating. But the full credit check might, and it’ll be recorded against your credit file.
What will you do with the information I give you?
There are details of how NewDay use your information to make a responsible lending decision in their privacy policy.
Where can I get a copy of my credit agreement?
It’s easy – just give NewDay’s customer services a call on 03308380170. They can send you a copy of the agreement at any time while you’ve got an Newpay account.
If my application’s declined, can I apply for Newpay again?
You can reapply, but we’d suggest not doing it immediately. The best thing to do is to check your credit score and credit report online, then we’d advise waiting 6 months before you apply again.
If my application’s declined, can I appeal the decision?
Yes – you’re more than welcome to appeal the decision, please call NewDay on 03308380170. Bear in mind that you’ll have one month to submit your appeal once NewDay has told you about their decision.
If I change my mind, can I cancel my Newpay application?
Unfortunately, you can’t cancel the application. But, once your Newpay account is set up, you can withdraw from the agreement and close your account – just bear in mind that you’ll have to repay any money you owe NewDay, including any interest. When you get an email from NewDay to confirm your credit limit, you’ll have 14 days to close the account. You can do this by calling their customer services on 03308380170. They’ll tell you how much you owe and how to pay it, then you’ll have 30 days to repay it.
I’ve been accepted for Newpay, now how do I use it?
Can I pay a deposit?
No, unfortunately deposits and split payments (across various payment methods, eg. card and PayPal) can’t be taken.
When can I start using Newpay?
Your Newpay account will be ready to use straight after you’ve signed your credit agreement. Then you can finish making your purchase.
Can I have more than one purchase on the same payment plan?
If you’ve paid using Newpay but decide to return the product, the cost of the item will be refunded and put back into your Newpay account. If this refunded amount covers the whole cost of the items, the payment plan will be cancelled and you won’t have to make any payments. But, if some interest has built up the refunded amount might not clear the balance in your account. In this case, you’ll still have to pay the previously agreed monthly payments to clear the balance.
When and how will I get a statement?
You’ll get monthly statements electronically (these are called eStatements), and you can view them on your Online Account Manager. NewDay will send you an email every time an eStatement is sent to you and is ready to see. So, please remember to tell NewDay if your email address changes.
Talk me through the costs that are involved.
How do I make a payment?
A few days after creating your Newpay account, you’ll get an email from NewDay asking you to set up an Online Account Manager with them. Here, you can edit your details and view transactions. So, when you’re making a payment, just visit your NewPay Online Account Manager and follow the quick and easy steps.
Are there any extra hidden costs to Newpay?
The only other payment that could be applied to your account is a late payment fee. But, if there are any other costs, you can find more information about them in your Credit Agreement.
When does NewDay charge interest?
NewDay starts charging interest when a transaction’s been made (including any applicable fees), until it’s been fully paid off. On an instalment plan, it’s from the date the plan is set up until it’s repaid in full.
You are not charged interest on purchases (not including those made on an instalment plan) made during your last statement period if you repay your outstanding balance by the due date and if you repaid the previous month’s outstanding balance on time.
NewDay charges interest on all fees, but not on default fees until at least the 29th day after they have told you about the default fee being charged. They work out interest daily and add it to your account on your monthly statement date.
What should I do if I’m having financial difficulties?
If you’re struggling to make payments towards your balance, please call NewDay’s customer services as soon as possible – they’ll be able to make suggestions on how to help. Their number is 03308380170.
What happens if I can’t afford my monthly instalment payment?
If you can’t afford to pay the fixed monthly instalment, that’s OK – it’s optional, so you won’t go into arrears if you can’t pay it. But, it means that your payment plan will be cancelled and you’ll be moved onto the flexible credit account. On this new plan, you must at least pay the monthly minimum amount, but you can pay more when you can afford it. If this happens, interest will start being charged at your standard rate, and if you’ve set up a Direct Debit, it’ll automatically be adjusted so NewDay won’t collect any monthly instalment payments.
What’s the credit limit all about?
What is a credit limit?
This is the maximum amount you may borrow on your Newpay account. The amount you’re offered is based on NewDay’s assessment of your application, which includes the information you gave us and the result of the credit check.
How do I change my credit limit?
If you want your credit limit to be increased or decreased, you can simply log on to your Online Account Manager or call NewDay’s customer services on 03308380170. They always keep an eye on your account to see how you’re getting on – they need to see that your account is well-managed, and that you’re making payments on time over a number of months before they can offer an increase. It’s best to keep your account up to date, as this will improve your chances of getting an increase accepted. To do this, make sure you stay within your credit limit and pay at least the contractual minimum payment each month.
How do I manage my accounts?
How do I change the details on my Newpay account?
Please visit your Newpay Online Account Manager to change the details on your Newpay account, and follow the instructions on there.
Where do I find my Newpay Online Account Manager?
This can be found here: https://portal.newdaycards.com/newpay/login
Is there a Newpay application available?
Yes, you can download the Newpay app from either the App Store or Google Play
App Store: https://apps.apple.com/us/app/newpay/id1562878268
Google Play: https://play.google.com/store/apps/details?id=com.newday.newpay
Is there a Newpay website available?
What happens if I don’t recognise a transaction on my account or I suspect fraud?
Please contact NewDay’s customer services as soon as possible. Please remember that phone calls may be recorded or monitored for training and security purposes.
Can I close my Newpay account?
Of course. Just log on to your Online Account Manager, and follow the instructions. Here, you can easily change the details of your account. You won’t have to pay any penalties, costs or charges for closing your Newpay account.
Who can I talk to about Newpay?
What should I do if I’m unhappy with how the process has gone?
If you’re unhappy with how we’ve dealt with your Newpay plan or application, and you wish to make a complaint, please contact us as soon as possible and we’ll do our best to put things right. If you’re not happy with our decision following a complaint and you wish to take it further, you can ask the Financial Ombudsman Service to review your complaint.
If you want to find out more about each payment plan, please visit your Online Account Manager, or feel free to browse through these pages.
Who can I contact if I have any more questions about my Newpay account?
If you have any questions, it’s really easy to contact NewDay’s customer service line on 03308380170. It’s open 7 days a week from 8 am to 9 pm. Please remember that calls will be charged at the standard national rate, and the cost may vary for mobile phone companies and operators. Calls may also be recorded or monitored for training and security purposes.
Klarna
Our partnership with Klarna brings you new ways to pay at checkout!
Here’s how it works:
Step 1
Add products to your cart and select “Klarna” when you check out
Step 2
Enter a few personal details and you’ll know instantly if you’re approved.
Step 3
Klarna will send you an email confirmation and reminders when it’s time to pay and
you can manage your orders and payments in the Klarna app.
Klarna FAQ
How does “Pay Over Time” work?
Spread the cost of your purchase into equal monthly payments with 0% interest over 24 months. Spread the cost is a promotional plan on the Klarna Account.
Is there a minimum spend if I’d like to use Klarna?
There is a minimum spend of £250 in order to show Klarna as a payment option at checkout.
How do I place an order using Financing with Klarna?
Purchasing with Klarna Financing is simple. Add the product you wish to purchase to your basket and proceed to the checkout as normal. Then select the “Pay Over Time” payment method. This will start your application with Klarna Financing. You will then be asked to provide some basic information, followed by details required to check your eligibility. If you’re approved, your payment plan will be created and your order will be automatically placed with us. It’s a short application and you won’t have to leave our website.
What details do I need to provide when I make my purchase?
You will need to provide your name, billing address, email address and phone number, as well as some basic employment and bank details.
Will I be required to pay anything when I apply?
In some cases, Klarna may offer finance contingent on the applicant paying a portion of the balance up front. If this is the case, you will be prompted to make a deposit during the application flow.
If I purchase using Klarna Financing, will I pay interest?
Our interest-free offer means that you won’t have to pay interest. The monthly instalments will be collected automatically from your bank account via Direct Debit. Please ensure you have enough funds in your account to cover the repayment on your due date.
Am I eligible?
To be eligible for Klarna credit products you must be at least 18 years old and a UK resident. Your application approval is subject to Klarna’s review of your financial circumstances and a full credit search.
Will Klarna Financing affect my credit score?
When you apply for Financing with Klarna, Klarna will make a full credit search with credit reference agencies who supply Klarna with credit information. The agencies will record details of the search, which can be seen on your credit file, whether or not credit is granted. This record will also be visible to third parties and may affect other organisations’ future decisions on whether or not to provide you with credit. For any questions relating to the credit check process, contact Klarna’s customer support team.
What if I am late or miss a payment?
Your monthly payment must reach Klarna by the payment due date.
Klarna will also report information to credit reference agencies about the payments you make, and about any payments that you fail to make on time. Late or missing repayments may have serious consequences for you and cause you serious money problems. Your credit rating may be affected which will make it more difficult or more expensive for you to obtain credit in the future. If at any time you miss consecutive payments, Klarna may serve you a default notice requiring you to repay what you owe. If you fail to do so, Klarna may terminate the Agreement and assign or sell the debt to a
debt collection agency who will become responsible for recovering the debt themselves.
If you are having trouble making repayments, please get in touch with Klarna customer service via the support section of the Klarna app or via Klarna’s customer support page.
Will I get an email confirmation
If you have selected the Klarna Financing option to pay for your purchase, Klarna will send you an email confirming your purchase details. The email will contain a link to Klarna’s online portal or to download the app, where you can manage your purchases with Klarna. It is essential that you provide
accurate information during checkout to ensure that you can receive Klarna’s communications.
Can I set up automatic monthly repayments?
During the Klarna Financing application you will be asked to set up a Direct Debit Mandate from your bank account. Klarna will draw your monthly instalments from your bank account automatically via this Direct Debit Mandate so you don’t need to do anything.
How long will it take until I receive my refund?
As soon as we have registered your cancellation or your return, we will credit the balance back to you or process a refund within the next 5 working days.
I purchased using Klarna and I would like to return it.
Please contact our support team at [email protected] or call 0203 950 0270 to process your return.
Once your return has been processed your Klarna Financing plan will be adjusted.
I still have questions about Klarna Financing.
Please visit Klarna’s customer service page for a full set of FAQs. Alternatively, you can contact Klarna via live chat from their website, by downloading the Klarna app or over the phone at 0808 189 3333.
PayPal
You can select PayPal as a payment method prior to submitting your order. You will then be shown a PayPal window to enter your details. Your data is securely transferred using SSL-encryption.
You can pay by PayPal for all the products we offer, and there is no upper limit to the amount you can spend. If you purchase your bike or accessories using PayPal, your account will be debited at the point of purchase.
Please ensure that both your PayPal account limit and the credit limit of your PayPal payment method are sufficient, otherwise your order will not be successful.
PayPal Credit
Simply spend over £99 and you get 0% interest for 4 months on that purchase. The great thing is you’ll automatically get 0% for 4 months every time you spend over £99.
It’s quick and easy to apply for PayPal Credit – all you need to do is complete a short application form and PayPal will give you a decision instantly. If approved and you accept, you’ll have a credit limit attached to your PayPal account to start using straightaway at thousands of online stores.
Splitit - 0% interest free instalments
Using Splitit, you can pay for your MATE bike in convenient monthly instalments.
And there’s no extra charges – you don’t need to pay a single penny more.
Paying through Splitit has multiple advantages for you:
– No credit checks.
– Always 0% interest. No hidden fees.
– No minimum order value.
– Up to 12 equal monthly payments.
Once your order has been placed with SplitIt, you will receive your bike as quickly as with any other payment method.
How does Splitit work?
SplitIt is a third party provider that simply charges your credit card in equal monthly instalments, using your own credit card (Visa or Mastercard). You pay nothing extra to receive 12 months 0% interest free finance.
So for example, if your new bike costs £1,500, your credit card will get charged 12 monthly instalments of £125. Each of our MATE bikes has a handy instalment guide
To ensure funding security, Splitit requests the pre-approval of the total purchase price against your credit card limit. With each monthly payment, the reserved amount on your card limit is reduced until the purchase is paid in full. The instalments appear on your bank statement as individual payments.
Slipstream
Our partnership with Slipstream brings you new ways to pay at checkout!
Here’s how it works:
Step 1
Add products to your cart and select “Slipstream” when you check out.
Step 2
Enter a few personal details and you’ll know instantly if you’re approved.
Step 3
Slipstream will send you an email confirmation and reminders when it’s time to pay and
you can manage your orders and payments via the Slipstream platform.
Slipstream FAQ
Renting with Slipstream is simple. Add the product you wish to purchase to your basket and proceed to the checkout as normal. Then select the “Rent with Slipstream” payment method. This will start your application with Slipstream Financing. You will then be asked to provide some basic information, followed by details required to check your eligibility. If you’re approved, your rental payment plan will be created and your order will be automatically placed with us. It’s a short application.
You will need to provide your name, billing address, email address and phone number, as well as some basic employment and bank details.
Our interest-free offer means that you won’t have to pay interest. The monthly instalments will be collected automatically from your bank account. Please ensure you have enough funds in your account to cover the repayment on your due date or it may impact your credit score.
To be eligible for Slipstream credit products you must be at least 18 years old and a UK resident. Your application approval is subject to Slipstream’s review of your financial circumstances and a credit search.
When you apply for Financing with Slipstream, Slipstream will make a full credit search with credit reference agencies who supply Slipstream with credit information. The agencies may record details of the search, which may be seen on your credit file, whether or not credit is granted. This record may also be visible to third parties and may affect other organisations’ future decisions on whether or not to provide you with credit. For any questions relating to the credit check process, contact Slipstream’s customer support team.
Your monthly payments must reach Slipstream by the payment due dates.
Slipstream will also report information to credit reference agencies about the payments you make, and about any payments that you fail to make on time. Late or missing repayments may have serious consequences for you and cause you serious money problems. Your credit rating may be affected which will make it more difficult or more expensive for you to obtain credit in the future. If at any time you miss consecutive payments, Slipstream may serve you a default notice requiring you to repay what you owe and/or demand return of your product and/or terminate your rental agreement. If you fail to do so, Slipstream may terminate the Agreement and assign or sell the debt to a debt collection agency who will become responsible for recovering the debt themselves.
If you are having trouble making repayments, please get in touch with Slipstream customer service via the support section of the Slipstream platform or via Slipstream’s customer service team.
If you have selected a Slipstream Financing option to pay for your purchase, Slipstream will send you an email confirming your purchase details. The email will contain a link to Slipstream’s online portal or to download the app, where you can manage your purchases with Slipstream. It is essential that you provide accurate information during checkout to ensure that you can receive Slipstream’s communications.
During the Slipstream Financing application, you may be asked to set up a Direct Debit Mandate from your bank account. Slipstream will draw your monthly instalments from your bank account automatically so you don’t need to do anything.
As soon as we have registered your cancellation or your return, we will credit the balance back to you or process a refund within the next 5 working days.
If your product is within the statutory return period of 14 days, please contact our support team at [email protected] or call 0203 950 0270 to process your return. Excluding statutory returns, you can only return a product once you have completed your payments for the minimum rental period agreed to in your rental agreement. You can arrange a return via the Slipstream Customer Portal. Once your return has been processed your Slipstream Financing plan will be adjusted as relevant.
Please visit Slipstream’s FAQ page for a full set of FAQs. Alternatively, you can contact Slipstream via live chat from their website.
Bank Transfer
Give us a call on 0203 950 0270 or email us on [email protected] telling us which bike you’d like (check stock on the website to avoid disappointment) and then we’ll make sure this bike is reserved for 48 hours to give you enough time to enable you make the payment.
Once we have confirmed your payment as received we’ll pack and ship your order as quickly as possible.
Hi-Fi Confidential Ltd
Bank: Lloyds
Sort code: 30-92-45
Account Number: 00830332
IBAN: GB11LOYD30924500830332
BIC/SWIFT: LOYDGB21049
In your reference please put your Initials & Postcode
Green Commute Initiative - Cycle to work scheme
Finance your dream MATE bike with the Green Commute Initiative bike-to-work scheme. Pick any bike you like, and pay with your gross wage to make big savings of up to 47%. Learn more
CycleScheme - Cycle to work scheme
Finance your dream MATE bike with the Cyclescheme bike-to-work scheme. Pick any bike you like, and pay with your gross wage to make big savings of up to 39%.
We have a calculator for the Cyclescheme where you can find out your potential savings based on your salary. Learn more
Cycle Solutions - Cycle to work scheme
Finance your dream MATE bike with the Cyclescheme bike-to-work scheme. Pick any bike you like, and pay with your gross wage to make big savings of up to 39%.
We have a calculator for the Cyclescheme where you can find out your potential savings based on your salary. Learn more
MATE bike showroom
Give us a call on 0203 950 0270 or email us on [email protected] telling us which bike you’d like (check stock on the website to avoid disappointment) and then we’ll make sure this bike is reserved for 48 hours to give you enough time to come along to the showroom and make your payment and take your bike home the same day!
Our Showroom is located in Woolwich, East London.
We are exceptionally busy and in order to give you our undivided attention we kindly request that you book an appointment prior to visiting on our number here: 0203 950 0270
Due to the current Covid-19 pandemic we are requesting all those coming into the showroom to wear a mask to protect our staff and other visitors.