GOT QUESTIONS?
FREQUENTLY ASKED QUESTIONS
Since Wōjē is such a drastic improvement for businesses everywhere and so far out of the mainstream normal, we have created this list of answers to questions we have been asked.
Woje® is a fintech company that has innovated in the financial technology space with MyWoje.com, the first Service Assisted Contract (SAC) system. This platform is designed to streamline the transaction of financing plans, enabling both businesses and individuals to offer financing options directly to their customers with ease. This approach not only simplifies the financing process but also opens up new opportunities for sales and customer engagement by allowing businesses and individuals to directly facilitate financing. MyWoje, as a pioneering SAC software, incorporates features to ensure security and user-friendliness, addressing the complexities typically associated with financing transactions.
Woje is privately owned by a group of individuals along with early adopted businesses and users.
What it means: Woje benefited from eliminating the percentage loss of user sales due to merchant fees. Instead, it mutually profits with the users from a percentage of the interest and fees users decide to charge their customers.
Phonetic spelling: /(h)wō/ /jē/
Woje® has two syllables. The first has a long "O" sound like, "So" or, the expression, "Whoa!". The second syllable is the sound of saying the letter "G", or the expression, "Gee?!"
whoa
/(h)wō/
exclamation
Used to express surprise, interest, or alarm, or to command attention. "Whoa, I can actually capture interest!"
gee
/jē/
exclamation
a mild expression, typically of surprise, enthusiasm, or sympathy. "Gee, it's easier than I thought!"
Woje allows businesses to create Payment Plans (PP) with specific terms, including interest rates, fees, and grace periods. Customers can then accept these plans, and payments are managed through the platform.
Benefits include ethical financing practices, customizable terms, professional consulting, and a supportive community of businesses and customers.
Woje emphasizes stewardship and ethical service to all stakeholders. It offers transparent terms and allows users to customize interest rates and fees to ensure fair and civil financing interactions.
Inability to cancel a payment after it's been sent if the recipient is enrolled in Wōjē.
No availability of using a debit or credit card.
Wōjē accounts can't be linked to a credit card.
Users retain the financial note until the customer has paid in full.
Woje (/whoah-gee/) is a United States–FinTech run by a privately held group of shareholders consisting of the original team and some of the early users.
Woje does not take a portion of sales, so merchant fees, along with a large percentage of the interest, remain in the hands of the Businesses and Individuals, which increases the volume deposited into banks.
If a payment bounces, Woje offers two collection prevention options with lower payment amounts to help ensure payments go through. There are also fees and potential interest rate hikes associated with bounced payments.
Interest rates are calculated based on the Annual Percentage Rate (APR), which is converted into a Daily Percentage Rate (DPR) for daily interest calculations.
No. You do not lose a percentage of your original sale price as in traditional merchant services, where you may see a 2% to 4.5% loss,or with companies like Care Credit, where it can be as high as a 14.9% loss.
Woje® does receive a percentage of the interest and fees you decide to charge your customers. This is calculated on each payment received.
Since Woje® does not hold the funds the time is determined by your customer's bank. Typically 2 to 5 business days.
Currently, Woje® is connected to the US banking platform, but plans are underway to make it internationally available.
No. You can, however, postpone payment by contacting the business or individual with whom you have a payment plan. They have the ability to postpone your auto payment. This feature was created to protect proactive customers from possible extra charges, fees, and/or interest.
No, Woje® payments cannot be reversed. With Woje®, money moves into an enrolled recipient’s account and cannot be reversed.
Woje® does not charge a percentage of the sale to the seller or the purchaser.
Wōjē offers a subscription-free service for individuals who are selling and customers, while businesses have a tiered automatic subscription model based on the number of active payment plans they manage. This tier will go up and down automatically with the number of active payment plans a business has. The initial tier starts at $0 for the first active payment plan. It then increases to $19, allowing up to 20 active payment plans. Subsequent tiers are $49 for up to 50 active payment plans and $97 for up to 100 active payment plans. Beyond this, the subscription fee increases by $100 for every additional 100 active payment plans, maxing out at $1,000 for unlimited active payment plans. This subscription is used to mainly cover third party costs associated with having access to some of the conveniences, such as immediate bank verification. Wōjē' benefits alongside its users from a share of the interest and fees that Individuals and Businesses elect to charge to their customers or purchasers instead of taking a percentage of the sale.
If you are using Woje®:
1. Please contact your bank or credit union’s customer support team. Qualifying impostor scams may be eligible for reimbursement.
2. Please contact our customer support team. Our goal is to help local and federal crime units find and eliminate threats. You can reach our customer support team through the icon at the bottom left of the screen at either www.wojeinc.com or on your MyWoje.com Customer Dashboard.
You may also report impostor scams to the Federal Trade Commission.
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