Moneyit is an advanced cloud based digital technology platform to administer the agreement, rules and conditions agreed between the financier and the SMME for the credit afforded by the financier to the SMME on the amount owed by a debtor to the SMME. It includes a mobile application for the SMME to view, administer and make payments to third parties from the credit available and received from the financier.

The functionality includes:

  • An electronic data interface between approved debtors and Moneyit where the outstanding balance information owed by the debtor to the SMME is daily uploaded to the Moneyit platform;

  • A digital registration process for the debtor cession agreement between the financier and SMME and the uploading of the data from the debtor business system;

  • Manage the % credit allowed by the financier and available to the SMME;

  • Management of multiple debtor accounts discounted by multiple financiers at different interest rates;

  • Calculate, record and process the payment of capital and interest due and payable by the SMME to the financier from debtor payments received in the financier bank account;

  • SMME use the Moneyit mobile application to register on Moneyit, open debtor trade accounts, load payment beneficiaries, make payments to beneficiaries from available trade credit, schedule payments against trade credit accounts and reporting on credit used, debtor receipts, payments, interest accrued on credit and repayment of capital to financiers;

  • A host-to-host interface with a bank to process SMME payments made from Moneyit platform;

  • A dashboard for financiers with comprehensive ledger accounts and details on SMME credit transactions and interest and capital payments;

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