One amount owed, split into instalments with dates on them. Somebody raises it, the person paying accepts it, and from then on both sides are looking at the same timetable.
You do not have to pay an exact instalment on an exact day. Pay what you can, when you can — whatever arrives is applied to the oldest thing outstanding first, and the record updates itself.
The instalment shows as overdue and both sides can see it. Nothing is taken from you automatically — Bit Pay does not debit anybody.
What is owed, over how many instalments, starting when. The whole timetable is worked out immediately — there is no version of a bit without its schedule.
A bit is a request until the person paying agrees to it. Only they can accept or decline.
Nothing requires a payment to match an instalment exactly.
Money is applied to the oldest unpaid instalment first, and each slice is recorded, so any payment can be traced to what it cleared. When the last one is covered, the bit closes.
Payments are held in the bit's own account rather than going straight into the other person's spending balance. Once half the total has been paid they can move it to their Pesewa Wallet, in part or all at once.
Each of these is enforced in the software rather than stated as a policy. A policy can be broken; these cannot.
Rebuilding a timetable that already has money against it would orphan the record of what those payments cleared. Terms are settled before the first payment or not at all.
Money paid beyond what is owed is recorded and surfaced to both sides rather than absorbed. Quietly keeping it would have been the easier thing to build.
Instalments do not land in the other person's spending balance. They go into an account belonging to that bit, so both sides can always see what has actually been paid toward this debt rather than trying to find it inside somebody's general balance.
The person owed the money cannot withdraw anything until half the total has been collected. That stops a bit being used to take a deposit and disappear, and it is not set so high that somebody paying faithfully for months cannot be paid. Once half is reached it stays unlocked.
Instalments on a shop order go into the same safekeeping as a single payment. A shop still does not receive an order it has not completed, and paying gradually is not a way round that.
PesewaPay is not on the app stores yet. Join the early access list and we will tell you the day it is — no other mail, and nothing shared.
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