What is SteadyPay?
SteadyPay is a UK-based, FCA-authorised financial technology company that provides short-term credit through a subscription model rather than charging interest. Founded to improve access to fair, affordable credit for people underserved by mainstream banks, SteadyPay operates under FCA reference number 789333 and is registered in England and Wales (company number 10713752).
Its primary consumer product is CashWave — a short-term loan of £50 to £500 with no interest, accessed via the SteadyPay app. SteadyPay also operates a business-to-business platform, offering consumer lending infrastructure to other organisations through its Lending as a Service (LaaS) model at partners.steadypay.co.
Why SteadyPay Exists
The UK consumer credit market has a problem. The people who need credit most — those on lower incomes, with thin credit files, or in irregular work — are routinely offered the worst terms: the highest interest rates, the least flexibility, and the fewest protections. Payday lenders and high-cost short-term credit products have filled a gap, but often at significant cost to the borrower.
SteadyPay was built to change that. The subscription model is a deliberate structural choice: by replacing interest with a flat monthly fee, the total cost of borrowing is fixed and transparent from the start. A customer who borrows £300 knows they will repay £390. There is no compounding, no penalty rate, and no ambiguity.
The goal is to make short-term credit work the way it should — as a financial tool that helps people manage their money, not one that traps them in a cycle of debt. SteadyPay also reports repayments to credit reference agencies, meaning that using CashWave responsibly builds rather than damages a borrower's credit profile over time.
For the businesses SteadyPay works with as a lending infrastructure provider, the same principle applies: consumer lending should be structured to produce good outcomes for borrowers, not just for lenders.
CashWave — How It Works
-
● Loan amount: £50 to £500
● Repayment: three equal monthly instalments
● Cost: £30 per month subscription — no interest
● Early repayment: available at any time, no extra charge
● Credit reporting: repayments are reported to credit reference agencies
● Access: via the SteadyPay app on iOS and Android
● Eligibility: subject to affordability and credit checks
-
1. Download the SteadyPay app (iOS or Android)
2. Complete a short application — typically under five minutes
3. We carry out affordability and credit checks
4. If approved, funds are sent directly to your bank account
5. Repay in three equal monthly instalments
-
If you borrow £300, you repay £300 across three monthly instalments, plus the £30 monthly subscription - a total of £390. That is the full cost. There is no interest, no penalty for early repayment, and no hidden fees.