- USA, UK, Canada only.
StretchPay is a per second billing service, protecting both the provider and customer and making payments for time-based services transparent and clear.
StretchPay provides an ability to "stretch" payment from one PayPal account to another over a period of time. Stretching a payment allows the customer to gain more control of the service provided by the provider. This works well for any time-based services, often delivered via video chat (training, consulting, therapy, lectures, any spectacle, any freelancer’s service, etc.).
A simple way of thinking about it is an hour glass. If you’re purchasing a service and happy with it, you can ‘tip’ the hour glass to release the money at that moment. Equally, if you’re unhappy, you can stop the flow of money. Likewise, if you’re selling a service, Stetchpay allows you to control the release of your work in return for money, or stop if you are not being paid. The Stetchpay app ‘sits on top’ of existing product payment tools essentially boosting their technology by allowing the flow of payment to be controlled.
Benefits: StretchPay gives you the power to control your money-spending in real time and adapt your payments for online services or products for the receipt of actual deliverables. With StretchPay the Customer sets the speed of money transfer and can begin, interrupt, resume, and conclude online procurement transactions, all according to the performance of the Provider.
The Customer sets the initial payment amount, decides whether to provide an up-front deposit (and/or to hold a retainer) to the Provider. The Customer can replenish the total payment amount at any time. The Provider can use this powerful financial tool to market their services to new customers, to provide effective and immediate customer service for any issues that might arise, to allocate their time efficiently according to the status of payment streams and to automate the accounts receivable process and avoid much of time typically associated with billing and following-up with delinquent customers.