PayOnTerm is a payments platform that introduces a new concept in the way of paying: Term Payments. They grant flexibility and automation to payment and collection, becoming a product for companies and proprietorships alike. A Term Payment is a deferred payment issued on a specific date that will be due in a future date. It establishes a payment obligation in the future that may not be revoked. It is supported by the digital signing of a contract between the parties, instrumented by our platform in a simple and automatic way. Therefore, users may access our mobile app in order to add a second factor authentication method (TOTP) and digitally sign contracts.