iPromise to pay: beating the late payment curse

iPromise co-founders Matt Peacock and Paul Veric. (Image: iPromise)

Mon, 14 Apr 2025

Around a decade ago, self-employed engineer Matt Peacock decided he’d had enough of chasing late payments and writing off bad debt.That eventually led to the creation of iPromise, a software as a service startup that hopes to change the way small and medium businesses are paid for their services.Peacock spent years researching escrow payments, a concept that goes back to mediaeval times. This means that a neutral third party holds on to the payments in a transaction until both the buyer and seller have fulfilled their obligation...

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