VINPay - Industry-First Payment Service
Another industry-first service
B o t t l e + B u l k W i n e P a y m e n t s
VINPay is a new wine payments service for producers and buyers. Now, producers can be assured of payment, plus receive 80% of their invoice paid in 3 days of dispatching wines. Also, buyers can save by offering cash payment terms, plus still receive standard credit terms and even extended terms to 150 days to pay.
VINPay is available to all wine producers in all countries, and credit approved buyers (located in European Union, UK, US or Canada) when trading direct with your existing buyers/suppliers; or when trading through the VINEX marketplace for all new or existing wines.
1. Fast, secure and guaranteed wine payments
2. Lower costs, secure and increased efficiencies
- Payment 100% guaranteed - eliminating commercial risk and reducing credit insurance costs
- Earlier access to cash - invoices paid (80%) in 3 days of dispatch, allowing you to invest cash and grow your business
- Applies to all wine sales – transact existing invoices to your customers, and new trades
- One settlement fee – deducted by VINPay on the transfer of funds to you
- Approved buyers – quality buyers, verified and trust rated by VINPay
- Flexible funding – VINPay funding is flexible and not asset-backed bank funding
- VINPay choice - transact your existing direct invoices (or VINEX traded) Export sales
- Negotiate 'cash price savings' - save on purchases by offering your suppliers cash terms (80% in 3 days of dispatch)
- Maximise cash flow - preserve your cash by receiving 60, 90 or 120 day terms, plus an option to extend by 60 days, to max. 150 days
- One settlement fee - a fee is deducted by VINPay from the funds paid to your supplier
- No deposits or pre-payments - maximise your cash-on-hand so you can better manage your cash flow
- Flexible financing – VINPay funding is flexible and not related to any asset-backed bank obligations
- Approved VINPay sellers – suppliers are verified and trust rated by VINPay
- VINPay Choice - transact your direct (or VINEX sourced) purchases
"It worked very fast and we were surprised by the new payment method. Thank you VINEX, Vinpay is very lucrative and our buyer will also be happy!"
Ion Mereuta, General Manager, Asconi SRL, Moldova
"For us Vinpay was a positive experience. Something we would be happy to repeat."
Christophe Pans, Export Director, Vitivinicola Cremaschi Barriga, Chile
"Finally, non-bank funding that enables me to preserve cash when I need it most!"
Name withheld, Importer, United Kingdom
The Key Facts
Suppliers receives 80% of invoice value in 3 days of dispatch, payment 100% guaranteed
One transparent Settlement Fee is deducted from funds advanced to the Supplier
Buyer can negotiate 'cash purchase prices' and save, whilst receiving extended payment terms to 150 days
All transactions are with credit approved buyers (in European Union or UK)
All transactions are secure and digitally processed
Who can use VINPay?
VINPay is a supply-chain payments service for registered and approved members. Suppliers and Buyers must be legal entities, and Buyers are required to enrol on the VINPay platform and qualify for a credit limit. No sensitive financial information is requested.
A VINPay transaction can be started by either the Supplier or the Buyer, or both.
(1) Suppliers may want to transact through VINPay, either after executing a trade through the exchange, or selling directly to an existing Buyer to receive both certainty of payment, and earlier access to cash.
(2) Buyers may want to transact through VINPay, to negotiate cash term savings, and to extend the due dates of Supplier invoices to preserve their cash flow.
VINPay is available for all bottled and bulk wines. You DO NOT need to trade through the exchange - you can simply transact direct invoices by forwarding Purchase Orders to VINPay, and receiving confirmation of credit approval.
VINPay is a 'disclosed trade payments service' with both the Supplier and Buyer agreeing to execute a rolling Tri-Party Sale & Purchase Agreement with VINPay.
How VINPay works…
- VINPay express transfers 80% of your invoice (less the VINPay settlement fee) in 3 days of receiving a Proof of Acceptance from the buyer. For 'wine exports', proof of acceptance is based on a pre-dispatch sample being accepted by your Buyer.
- VINPay transfers the 20% balance of your invoice in 3 days of the invoice due date, adjusted for any agreed discounts, rebates or delivered quantity variances.
- For all bottled and bulk wine purchases
- Must be located in European Union or UK, and be VINPay credit approved.
VINPay Scenario 2: A buyer wants to preserve cash flow by extending all invoice terms to 150 days The Buyer has a VINPay pre-approved credit limit and wants to extend the payment term of each invoice beyond their Supplier's 90 day term. Each month the Buyer transacts invoices through VINPay with the total value remaining below their pre-approved credit limit. For a +60D Extension fee, VINPay provides the Buyer with an additional 60 days to pay each invoice, in addition to the Supplier's 90 day terms, totalling 150 days. The Buyer pays VINPay for each invoice, adjusted for any agreed rebates or product quantity variances, on or before 150 days. The Supplier continues to receive 80% of each invoice paid in advance within 3 days of each dispatch, with the remaining 20% paid within 3 days of each invoice's original 90 days' due date.
VINPay Supplier Settlement Fees
Settlement fees start from 1.25% per month of the invoiced value. VINPay provides standard 60, 90 and 120 day credit terms. Please contact us for more details at firstname.lastname@example.org) and to discuss how we can assist you.
Transactions are available in EUR or GBP. No other transaction fees apply.
Buyers' Credit Limits
All buyers must be located in either the European Union or UK and have a credit insurance pre-approved limit. For Suppliers to receive guaranteed 100% payment they must not dispatch wine and raise an invoice that will take the Buyer's total unpaid invoice value over their credit limit. Buyers will be required to pay-down any unpaid invoices to ensure they remain below their credit limit at all times.
Buyers can apply for a credit limit at: email@example.com
Note: VINPay does not require any sensitive company financial information.
Please direct your enquiries to firstname.lastname@example.org
Level 1, One Mayfair Place
London W1J 8AJ UK
VINPay is a digitised supply-chain wine payments service. VINPay is a registered trademark of Vin-Exchange IP Ltd.