Questions & Answers

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What is the atokes marketplace?

atokes is an innovative online marketplace based in Cyprus, that includes a flexible and convenient Buy Now Pay Later (BNPL) service. It empowers you to make purchases and pay for them over time, offering a smart financial solution for hassle-free shopping. With atokes, you can split your payments into manageable, interest-free monthly payments tailored to your budget, making shopping more affordable and accessible. Say goodbye to traditional credit hassles and say hello to the future of convenient online shopping.

How does the atokes marketplace work?

atokes operates on a simple yet powerful principle: shop now, pay later. Here's how it works:

  1. Create an Account: Sign up for a personal account.

  2. Browse and Shop: Explore products and add them to your cart

  3. CAP Registration (If Required): Complete the quick assessment. Get assigned with your customised monthly credit limit ("MCL").

  4. Customise Payment Plan: Adjust your payment plan based on your approved MCL.

  5. Proceed with checkout: Proceed with settlement of the first payment using your debti/credit card.

  6. Confirmation and Delivery: Receive confirmation email and await delivery of your purchased products.

Start shopping with atokes today!

Who is eligible to use the atokes marketplace?

Eligibility for using the atokes website is open to users who meet the following criteria:

  1. Age Requirement: Individuals aged 18+.

  2. Residential Address: Customers residing in Cyprus.

  3. Bank Account: A working bank account with online banking log in credentials readily available.

Please review our specific terms and conditions for full eligibility criteria.

How do I apply for using the atokes marketplace?

At atokes, any registered user can purchase products from our marketplace with a one-off payment upon checkout. However, for those who prefer the convenience of our interest-free Buy Now, Pay Later (BNPL) feature, an additional step is required. Users must register with our Credit Assessment Platform (CAP) to obtain an MCL (Monthly Credit Limit). This MCL enables access to personalized BNPL options, allowing you to shop for your favorite products and pay for them in manageable, interest-free monthly payments.

 

If you need to register with CAP or your CAP registration has expired (i.e., after 6 months), you will be prompted to do so during the checkout process.

What credit checks are performed on me?
When you register with atokes and proceed with our Credit Assessment Platform (CAP) to obtain an MCL (Monthly Credit Limit), our regulated Account Information Service Provider (AISP) performs certain credit checks. These checks may include a review of your historical financial information, such as your income, expenses, and credit history, through a secure connection to your online banking. The purpose of these checks is to assess your creditworthiness and determine a suitable MCL that aligns with your financial circumstances. Rest assured that your data is handled securely, and Atokes prioritizes the protection of your privacy throughout this process. Please note that our credit checks are conducted to ensure responsible lending practices and provide you with a tailored experience.
What types of products and services can I purchase in the atokes marketplace?

The atokes marketplace offers a diverse and ever-expanding range of products, ensuring that there's something for everyone. Our marketplace includes electronics, kitchen & home appliances and much more. 

And that's not all! atokes plus takes your shopping experience a step further. If you have specific product requests that are not currently available in our marketplace, we welcome your specific requests via atokes plus.

How do I pay for my atokes purchases?

Payment Process:

  1. Initial Payment: When you make a purchase on atokes, your first payment is made immediately upon checkout using your preferred payment method, such as a credit or debit card.

  2. Remaining Payments: For the subsequent monthly interest-free payments, we offer a hassle-free solution. These payments are settled via direct debit from your bank account directly. We use the trusted service provider GoCardless to ensure a secure and convenient transaction process.

With this payment method, you can enjoy your products and spread the cost over time, making your shopping experience on atokes even more convenient and budget-friendly.

Does atokes lock any amount in my bank account/credit card?
At atokes, we don't believe in locking up any of your hard-earned cash before you even make a purchase. We understand that you have better things to do with your money than hold it hostage.
 
Think of us more like a trusty sidekick, always here to help you when you need it. atokes does not lock or reserve any amount in your bank account. We only collect the agreed-upon monthly payment amounts for your purchases, as per the terms you've agreed to during checkout. Your bank account remains fully accessible and under your control for all other transactions and expenses. We prioritize transparency and convenience in our payment process.
Are there any fees associated with atokes?
No, there are no additional fees associated with atokes. We believe in providing transparent and straightforward payment options for our users. However, it's important to note that if a payment is missed or not made on time, late payment fees may apply as per the terms and conditions agreed upon during the checkout process. We encourage our users to make their payments on time to avoid any additional charges.
Can I cancel my atokes account?
Yes, you have the option to cancel your atokes account at any time. We understand that circumstances may change, and you may no longer wish to use our services. To cancel your account, simply contact our customer support team, and they will guide you through the process. Please note that any outstanding payments or obligations must be settled before the account can be cancelled.
How do I contact atokes if I have any questions or issues?

You can contact us via the following routes :

  • email: info@atokes.com
  • whatsApp: +357 96 918 991
  • through our website contact form

Our customer service team is always happy to assist you.

What kind of security measures does atokes have in place to protect my personal information?

At atokes, we take your security and privacy very seriously. We have implemented robust security measures to safeguard your personal information. Our website and data are encrypted using the latest security protocols, ensuring that your data remains confidential during transmission. We also comply with data protection regulations and use secure servers to store your information. Additionally, we regularly update our security protocols to stay ahead of potential threats. Your trust and privacy are of utmost importance to us, and we are committed to maintaining the highest standards of security.

Can I use atokes to make multiple purchases at once?

Absolutely! At atokes, we understand the convenience of shopping for multiple items at once. You can use our platform to add multiple products to your card, and on checkout these are bundled together for you to customise your monthly payments. This flexibility allows you to manage your purchases efficiently and enjoy the benefits of interest-free monthly payments for eligible products.

It's important to note that your ability to make multiple purchases depends on your available Monthly Credit Limit (MCL). You also have the option to adjust your initial payments to stay within your approved MCL, providing you with even more control over your shopping experience. Shop with ease and convenience on our platform, where you can find a wide range of products to suit your needs.

How can i see my upcoming payments?

To view your upcoming payments, follow these simple steps:

  1. Log In: Sign in to your atokes account using your registered credentials.

  2. Dashboard: Once logged in, go to your account dashboard.

  3. Select "Orders": Look for the "Orders" option on your dashboard and select it.

Here, you can easily see a summary of your completed purchases, current ongoing purchases, and the number of payments remaining for ongoing purchase plans. This section provides you with all the details you need about your payment schedule and transaction history.

Can I pay off my balance early?
Absolutely! You have the flexibility to pay off your balance early at Atokes. To do so, simply contact our customer support team through email (info@atokes.com) or whatsapp (+357 96 918 991), and they will assist you in arranging your desired payment schedule. We're here to help you manage your payments in a way that suits your needs best. Feel free to reach out to us for any assistance or to discuss your payment options.
 
At atokes, we reward responsible financial behavior. If you decide to pay off your remaining balance before the scheduled completion date, you'll receive a discount equal to 10% of the remaining balance, which can be applied to your next purchase.
 
Let's say you purchased an item with a total cost of €1,000, divided into 10 monthly installments of €100 each. After making 5 payments, you decide to settle the remaining €500 in one go. In this case, you'll receive a €50 discount that you can use towards your next purchase. It's our way of saying thank you for being a responsible and valued atokes customer!
 
How does the CAP work exactly?

The CAP (Credit Assessment Platform) is an important part of the atokes shopping experience. It's designed to provide you with flexibility and convenience when using our platform. Here's how it works:

1. Registration: Any atokes user can make a purchase on our marketplace with a one-off payment. However, if you'd like to use our interest-free monthly payments feature, you'll need to register with the CAP and obtain an MCL (Monthly Credit Limit).

2. Activation: Once you've registered with the CAP and obtained your MCL, you're ready to enjoy the benefits of interest-free monthly payments. This is your monthly spending limit, and it's determined based on your financial profile and creditworthiness.

3. Making a Purchase: As you shop on the atokes marketplace, you can customise your payment plan option during checkout. This allows you to spread your payment over several months, making budgeting for your purchases even easier.

4. Monthly Payments: Your monthly payments are automatically debited from your registered bank account via direct debit. This ensures that you never miss a payment and can comfortably manage your budget.

5. Enjoy Shopping: With your CAP and MCL in place, you can shop for a wide range of products on our marketplace, making purchases more accessible and affordable.

6. Renewal: Your CAP registration is valid for six months. After this period, you may need to renew your CAP registration if you wish to continue using monthly interest-free payments for future purchases.

7. Convenience: If your CAP registration expires or you haven't registered yet, don't worry. You'll be prompted to do so if it's applicable to your purchase.

The CAP is all about giving you more control and flexibility when shopping with atokes, so you can enjoy the products you want while managing your budget effectively.

When should I register for the CAP? Should I do it manually or will you prompt me to do it?

Registering for the CAP (Credit Assessment Platform) is a straightforward process, and it's recommended if you plan to use atokes' interest-free monthly payments feature. Here's when and how to register:

When to Register:

  • You should register for the CAP when you want to make use of the atokes monthly payments feature, allowing you to spread your payments over several months.
  • You can register at any time, but it's typically done during the checkout process when you're making a purchase.

How to Register:

  • During the checkout process, if you want to purchase your product using monthly payments and you haven't already registered for the CAP (or your CAP has expired), atokes will prompt you to do so.
  • Simply follow the prompts and provide the necessary information to complete your CAP registration.
  • You'll need to have your ID, IBAN, phone number, and online banking credentials ready for the registration process.

atokes strives to make the registration process as smooth as possible for your convenience. So, when you're ready to take advantage of the monthly payments feature, just follow the prompts during checkout, and you'll be guided through the registration steps if needed.

Do you use any external third party service providers?

Yes, atokes partners with external third-party service providers to enhance and streamline the user experience and ensure the security of your transactions. Here's how our main providers fit into the process:

  1. AISP (Account Information Service Provider): atokes uses a fully regilated Account Information Service Provider ("AISP") to access and assess your financial information. This provider securely connects to your online banking, retrieves necessary details, and assists in evaluating your eligibility for interest-free monthly payments.

  2. GoCardless: To manage payments efficiently, atokes utilizes GoCardless, an established third-party direct debit service provider. GoCardless helps facilitate the direct debit process, ensuring that your monthly payments are collected on time from your bank account. This ensures a seamless payment experience for you.

These third-party providers are carefully selected for their expertise in their respective domains and their commitment to data security and privacy. They play integral roles in delivering a secure, efficient, and convenient service through atokes.

How many monthly payments am I allowed to utilise for my purchases?

atokes offers first-time users the option of up to 5 monthly payments for their initial purchases. After successfully completing a payment plan with all payments made on time, users can unlock an additional available payment. This process continues until users reach a maximum of 10 monthly payments per purchase. On the other hand, if there is a single failed or late payment during a payment plan, then a user will have 1 less available monthly payment during his next purchase. The number of available monthly payments is shown as the level of the user. i.e. a user who is at level 8, is entitled to a maximum of 8 monthly interest free payments on his purchases. 

Users also have the flexibility to adjust the number of instalments at the time of checkout. By making a higher upfront payment, they can reduce the number and amount of monthly payments. It's essential to keep in mind that the maximum monthly payment amount cannot exceed the Monthly Credit Limit (MCL) assigned to the user. This flexibility allows users to customise their payment plans according to their budget and preferences.

It's also very important to remember that, as per the terms & conditions of this marketplace, for baskets that have a value of less than €300, users are only allowed to utilise a maximum of 4 monthly payments, irrespective of their current level.

You can view your current maximum available monthly payments in the dashboard of your account. This is outlined as your level. So for example if you are at level 6, you are entitled to maximum 6 monthly payments on your next purchase.