VINPay - Wine Payments Re-invented
[Another global wine trade innovation by VINEX]
W i n e I n v o i c e s P a i d
Guaranteed, and paid earlier!
Now producers are guaranteed 100% payment, plus receive 80% of their invoices paid in 3 days of dispatching each wine. Also, buyers can save by offering their suppliers an advance payment, plus still receive standard credit terms or extended to 150 days.
VINPay is available to all wine producers in all countries, and credit approved buyers (located in the European Union or UK) when trading direct with your existing buyers/suppliers; or when trading through the VINEX marketplace for all new and existing wines.
1. Producers can VINPay their direct sales invoices
2. Fast, secure and guaranteed wine payments
3. Increased cashflow to invest and grow your business
Suppliers receive...
- Payment 100% guaranteed - eliminating non-payment risk and eliminating 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 through VINEX
- One settlement fee – deducted by VINPay on the transfer of funds
- Approved buyers – quality buyers, verified and trust rated
- Flexible non-asset backed funding – VINPay funding doesn't reduce your asset values for bank financing
- VINPay choice - transact your existing customer invoices (or through VINEX) for National and International sales
Buyers receive...
- Negotiate 'advance payment savings' - save, by offering your suppliers more attractive terms (ie. payment in 3 days)
- Maximise cash flow - preserve your cash by receiving 60, 90 or 120 day terms, plus an option up to 150 days
- No transaction costs - one settlement fee is deducted by VINPay from the funds advanced to your supplier
- No deposits or pre-payments - maximise your cash-on-hand, and choices on where to deploy available cash
- Flexible funding – VINPay funding is flexible and unrelated to any asset-backed bank obligations
- Approved VINPay sellers – suppliers are verified and trust rated
- VINPay Choice - transact all your direct purchases from supply partners (or VINEX sourced purchases)
For us Vinpay was a positive experience. Something we would be happy to repeat.
Christophe Pans, Export Director, Vitivinicola Cremaschi Barriga, Chile
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
Finally, non-bank funding that enables me to preserve cash for when we need it most.
Name withheld, Importer, United Kingdom
The Key Facts
-
Suppliers receive 80% of invoice value in 3 days of dispatch, and payment is 100% guaranteed
-
One transparent Settlement fee deducted from funds advanced to the Supplier
-
Buyer can negotiate best available prices and save, whilst still receiving standard or extended payment terms
-
The supplier's obligation to deliver wine acceptable to the buyer remains, as per existing conditions
-
All transactions are with credit approved buyers, located in European Union and UK
-
All transactions are secure and digitally processed
Who can use VINPay?
VINPay is a supply-chain payments service for VINEX 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 VINEX - you can simply transact direct sales invoices by forwarding Invoices 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 Sale & Purchase Agreement.
How VINPay works…
Suppliers
- VINPay express transfers to you 80% of your invoice (less the VINPay 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.
Buyers
- For all bottled and bulk wine purchases
- Must be located in the European Union or UK and be VINPay credit approved.
VINPay Scenario 1: A supplier wants 100% payment assurance, and earlier access to cash The Supplier receives a Purchase Order and forwards it to VINPay. The Buyer is VINPay credit approved and agrees to accept the Supplier' terms of 60 days EXW. VINEX forwards a rolling agreement to both parties and obtains their acceptance. Prior to dispatching the wine, the Supplier provides a Pre-Dispatch Sample to the Buyer for their acceptance. On receiving acceptance, the Supplier dispatches the wine and forwards the invoices to the Buyer and copies VINPay. On receiving the invoice, VINPay transfers payment to the Seller, being 80% of the total value, in 3 days. VINPay deducts its settlement fee from the funds transfer. Then, in 3 days of the invoice's 60 days payment due date, VINPay pays the remaining 20% to the Supplier, adjusted for any agreed rebates or product quantity variances. The Buyer pays VINPay the agreed invoice amount on or before the due date, or elects to increase the payment term by further 60 days, paying a VINPay +60D Extension fee.
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 in 3 days of each dispatch, with the remaining 20% paid in 3 days of each invoice's original 90 days' due date.
VINPay Supplier Settlement Fees
Fees start from 1.25% per month of the invoice value. VINPay provides 60, 90 and 120 day credit terms. Ask us for more details at enquiry@vinpay.market or select our chat function.
Transactions are available in EUR or GBP. No other transaction fees apply.
Buyers' Credit Limits
All buyers must have a pre-approved credit 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, select our Chat or email us to request approval: enquiry@vinpay.market
Note: VINPay does not require any sensitive company financial information. Credit limits are provided by our global credit insurer.
Questions
Ask us your questions here, or select Chat enquiry@vinpay.market
Vin-Exchange Ltd
Office 155 / 88 Lower Marsh Road
London SE1 7AB UK
VINPay is a digitised supply-chain wine payments service. VINPay is a registered trademark of Vin-Exchange IP Ltd.