Your ID will create a project on the HomePay app based on your specific needs and requirements.
Review and approve your new project
Create your wallet and e-sign the project contract after reviewing the project’s cost, tranches and works.
Experience a calmer renovation process
Approve payments as the work is done in stages, in accordance with the pre-agreed-upon progressive payment tranches.
Tranche 1 (Hacking Works)
HomePay’s wallet system is MAS-approved and securely stores your funds in a DBS custodian account. All renovation funds are held securely in escrow and will only be released in stages according to the terms of your renovation agreement.
HomePay’s wallet is MAS approved and securely stores your funds in DBS Custodian Accounts. The funds are held securely in escrow and will only be released in stages according to the terms of your renovation agreement.
What are the platform fees relative to those charged by other Buy Now Pay Later (BNPL) services in the industry?
We offer lower credit card fees in comparison to other BNPL platforms, at 2% only.
Will Homepay be able to offer advice for new homeowners dealing with IDs? As many of us mainly want to use Homepay due to the rise in renovation scams
Yes, you can visit our blog at https://homepay.sg/blog where we advise homeowners on how to safeguard your renovation process and payments.
Under what circumstances should I deny works done by my Interior Designer?
When you find your ID’s work unsatisfactory, you can deny the submitted proof of completion on the app, and give your feedback for them to re-work on it.
What does HomeProtect mean for homeowners?
In the interest of bolstering homeowner protection in instances where ID firms closes down suddenly, HomeProtect ensures your renovation gets completed according to plan and will get another vendor in to finish up your renovation works, at no additional cost!
Under what circumstances will HomeProtect not be extended to me?
In the event of a person contract cancellation with your ID firm, provided that the firm has not ceased operations, HomeProtect does not extend coverage to such circumstances.
Will HomePay be able to manage our important renovation documents such as contracts?
HomePay functions as a financial management platform and intermediary for the facilitation of escrow transactions between the involved parties. It is important to note that HomePay does not manage any contents or conditions in the contract directly.
Is there a default time interval between each payment, or can I decide on it manually?
For progressive payment tranches, these percentages are to be discussed and set between homeowner & ID via the app. Thereafter, homeowners needs to Make Payment on the app when the relevant works are starting, according to your renovation timeline. We would suggest for the ID to prepare a project timeline document and within it state each payment tranche milestone, for your homeowner's easy reference. As for the releasing of balance 50% funds for each payment tranche, there is no default time interval between each payment. As long as homeowners approve the works done by the ID firm via the app, HomePay will release the balance 50% in escrow, to the ID.
Can I decide on the payment tranches for my renovation project?
The allocation of payment tranches is determined by the interior designers with whom you have a contractual agreement, as specified in the app within your project details.
What is HomePay?
HomePay is a mobile app designed to streamline renovation payments for both homeowners and interior designers. It allows for easier management of progressive payments & also helps secure guaranteed payments on your behalf, where 50% of each payment tranche are released to your firm upon homeowners' payment, while the other 50% of the payment is held in escrow until works are completed diligently by your firm.
What can be done in the event the client refuses to approve the payment?
Please provide proof of completion by submitting supporting images & videos through your homeowner's project page. If no response is given by your homeowner within 7 days, payment will be automatically transferred to your wallet. In the event that the client rejects the proof of completion provided, please liaise with the client to reach a conclusion before moving on to the next progressive payment tranche.
Why should I use HomePay as an Interior Designer?
HomePay offers Interior Designer (ID) firms a secure and streamlined payment platform, enabling you to receive renovation payments in tranches and ensuring a steady cash flow. With the assurance of guaranteed payment, you can focus solely on your project deliverables. Additionally, HomePay enhances your business prospects through a user-friendly interface, personalized training, and dedicated customer support services, ensuring a seamless onboarding process and a hassle-free experience.
How can my Interior Design Firm sign up on HomePay?
Joining HomePay is easy. A business account will be created by your ID firm and from there, sales accounts for each individual ID can be added. Simply download the app, click on "Interior Designer" on the home page and follow the on-screen instructions to create your professional profile. Once registered, you can start managing your renovation projects and receiving payments through the platform. Should you experience any difficulties during the sign up, do contact us at email@example.com
What is HomePay?
HomePay is a renovation-exclusive escrow payment mobile app that makes renovation payments safe & secure for both homeowners & interior designers. With HomePay's system, homeowners can feel assured that their renovation payments are securely held in escrow and only released progressively as works get completed. This process effectively minimises the potential risk of irresponsible delivery of works & scams during renovations.
Why should I use HomePay?
With the year-on-year growth in cases of renovation scams and firms abruptly closing down during projects, we are dedicated to offering a more secure and reliable solution for the industry. HomePay enables homeowners to make progressive payments aligned with the renovation progress and holds payments in escrow until the completion of the work. This ensures the effective delivery of the renovation deliverables.
How can I ensure that the Interior Designer will not run away with my payment?
With HomePay’s escrow payment system, 50% of each progressive payment tranche will be held in escrow until works are completed and approved by you.
What will happen if my project is incomplete?
As payments are held in escrow, if your engaged Interior Design firm ceases operations suddenly, HomePay will get another vendor in to complete the remaining works according to plan at no additional cost, ensuring that you can still achieve your dream home!
Do I need to pay to use HomePay?
A friendly administration fee of $200 is in-place for homeowners to secure their renovations! However, follow our socials closely and look out for any new promotional codes and offers.
By using the HomePay app, you get to use your preferred credit or debit cards safely with industry-leading low transaction fees (2%). Alternatively, HomePay also supports bank transfers for a zero transaction-fee experience.
“I'm so excited for the HomePay app to release after trying it out with the team, it will make my renovations so much less stressful. So much more convenient to have it all on one app”
"After seeing what HomePay can do, I wish it was available when I did my renovation earlier this year. Seems like a much more secure way to handle renovation payments, especially with such large sums of money involved."
"HomePay will seriously lessen my uncertainty level when it comes to making payments for works that still needed minor retouching. I don't have to think anymore as the money is safe in escrow."
Download HomePay on iOS or Android
Wouldn’t it be nice if you could focus on your renovation instead of worrying about payments?
Thank you! We'll let you know as soon as the app is out and available.
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