What is TuaPay?
Tua is a consumer financing solution that pays merchants up front while allowing the merchant’s consumer to pay for the purchase over time.
How does it work?
Tua breaks down the cost of an invoice into smaller, more manageable payments for a consumer. The merchant is paid for the invoice up front, and Tua manages the consumer’s ongoing payments, making it a seamless experience for the merchants.
What are our risks?
There are no risks for merchants as Tua/the lending bank handles all credit risks associated with the loan.
Is there a cost for this service?
The cost ranges from 4%-6% of the purchase. For further details, please reach out to your Merchant Specialist.
How quickly do I receive payment for an approved loan?
Funds are deposited within two business days, in most cases you will receive your funds as early as the next business day.
Is there a minimum monthly amount?
No, there is no minimum monthly amount of transactions required. Our goal is to partner with you and help drive business.
How long does it take to get setup?
It can take up to 48 hours to be approved. If you are interested, please email MerchantSupport@tuafinancial.com and a Relationship Manager will reach out to you.
How will I know if my customer is approved for TuaPay?
Like a credit or debit payment you will receive an authorization message from your payment provider.
Who do I contact for merchant support?
Merchants can reach out to merchant support via email at MerchantSupport@tuafinancial.com.
Where can I direct my customers if they have questions?
If your customers have any questions, they can contact our Tua Care Team at Care@TuaFinancial.com and one of our Tua Care Advocates will answer any question they have.
My customer was declined, what can I tell them?
If your customer was declined, you can inform them that Tua will be emailing them further details. If they have any immediate questions, they are welcome to contact our Tua Care Team.
My customer signed up for TuaPay, what happens next for them?
After they are approved, and they have selected their flexible payment option, your customer will receive an email and a link to My Payment Center. They are then able to enter their payment information, view product information, and set up automatic payments.
What is the interest rate and term for my customers?
The interest rate and term length are all dependent on what your customer is approved for. The repayment options vary between 6 weeks and 36 months and the interest rates can vary between 0% to 30% (APR).
How do I update our company information?
To update your contact information, please contact our Tua Care Team at MerchantSupport@TuaFinancial.com and they will be happy to assist.
How do I request reporting?
Tua will provide you with ongoing reports on a regular basis. To request a specific report, please contact our Tua Care Team and they will be happy to assist.
How do I process returns?
To process returns, please reach out to our Tua Care Team, by dialing 1-833-TUA-7701, and then select option 1 for returns. You will be connected with a Merchant Specialist who will be able to assist. Or reach out via email at MerchantSupport@TuaFinancial.com.
Are customers allowed to complete chargebacks?
Chargebacks are not automatically granted. Consumers can, however, make a dispute for a purchase, and Tua will work directly with both parties.
How long does it take to get my money?
Funds are deposited within two business days. In most cases you will receive your funds as early as the next business day.
Where can I find reporting or transaction details?
Reporting will be sent to you via email. If you would like further detailed reports, please reach out to our Tua Care Team.
How will I receive payment from approved loans?
Payments will be sent through a direct deposit (ACH) to your bank account.
What if I don’t receive a payment or find a discrepancy?
In this very unlikely situation, if you did not receive payment, or found a discrepancy, please contact our Tua Care Team and they will be happy to assist you with this.