VINPay - Wine Payments Re-invented
Announcing another industry-first!
B o t t l e + B u l k W i n e P a y m e n t s
VINEX launches a new wine payments service for producers and buyers. Now, producers can be assured of payment, plus receive 80% of their invoice paid within 3 days of dispatching wines. Also, buyers can save by offering cash payment terms, plus still receive standard credit terms even extended up to 150 days to pay.
VINPay is available to all wine producers, and credit approved buyers when trading directly with your existing buyers/suppliers or when trading through VINEX, for all new or existing wines.
1. Fast, secure and assured wine payments through VINPay
2. Zero Trading Fees, when placing VINEX trades through VINPay
3. Continue selling direct and VINPay your invoices
- Payment assurance - eliminating commercial risk and the need for credit insurance
- Earlier access to cash - invoices paid (80%) within 3 days of dispatch, allowing you to invest cash and grow your business
- Applies to all wine sales – transact existing sales to your customer, and new trades through VINEX
- One fixed settlement fee – deducted by VINEX on the transfer of funds to you (and NO trading commissions apply)
- Approved buyers – verified and credit rated by VINEX
- Flexible unsecured funding – VINPay funding is unrelated to any bank asset-backed funding obligations
- VINPay choice - transact your existing direct (or exchange-traded) Domestic and Export sales
- Negotiate 'cash purchase prices' - save on purchases by offering your suppliers cash payment terms (80% within 3 days of dispatch)
- Maximise cash flow - preserve your cash by receiving 60 or 90 days terms, plus an option to extend by a further 60 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 financing is unrelated to any bank asset-backed funding obligations
- Approved VINPay sellers – suppliers are verified and trust rated by VINEX
- VINPay Choice - transact your direct purchases (or exchange-traded) Domestic and Export sales
"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
"At last, a payments service that's fast and understands our business needs!"
Name withheld, Producer, Argentina
"Finally, non-bank funding that enables me to preserve cash when I need it most!"
Name withheld, Importer, United Kingdom
The Key Facts
Seller receives 80% of invoice value within 3 days of dispatch
One transparent Settlement Fee is deducted from funds paid to Seller
Buyer can negotiate 'cash prices', whilst receiving extended payment terms
All transactions are with credit approved buyers
All transactions are secure and processed online
Who can use VINPay...
VINPay is a supply-chain payments service from VINEX for VINEX registered members. Sellers and Buyers must be legal entities, and Buyers will be required to apply for a VINEX pre-approved credit limit.
A VINPay transaction can be started by either the Seller or the Buyer, or both.
(1) Sellers may want to transact through VINPay, either after they execute a trade through the exchange, or transacting with their existing direct buyers to receive both certainty of payment, and earlier access to the payment.
(2) Buyers may want to transact through VINPay, to negotiate cash term savings, and extend invoice payment due dates 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 agreements by forwarding your Purchase Orders to VINPay.
VINPay is a 'disclosed trade payments service' with both Seller and Buyer executing a Tri-Party Sale and Purchase Agreement with VINEX.
How VINPay works…
- VINPay express transfers 80% of your invoice (less the VINPay settlement fee) within 3 days of VINPay receiving a Proof of Acceptance from the buyer. For 'wine exports', proof of acceptance is based on a pre-shipment sample being accepted by your buyer.
- VINPay transfers the 20% balance of your invoice within 3 days of the invoice due date, adjusted for any agreed discounts, rebates or delivered quantity variances.
- For all bottled and bulk wine purchases, if you have a pre-approved VINPay credit limit.
VINPay Scenario 2 (Export Invoices)... 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 the Seller’s 90 days export credit terms. Each month the Buyer transacts invoices through VINPay with the total value remaining below their pre-approved credit limit. For a standard fee, VINPay provides the Buyer with an extra 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 Seller receives 80% of each invoice within 3 days of dispatch and the remaining 20% within 3 days of each invoice's original 90 days due date.
VINPay Settlement Fees
Settlement fees start from 2.0% of the invoiced value and are fixed. For Domestic invoices, VINPay provides 60 day credit terms, and Export invoices 90 day credit terms. Please contact us for the fees (email: email@example.com) and to discuss how we can assist you. A minimum Settlement Fee of €500 applies per transaction (being one or more invoices processed at the same time).
Transactions are available in EUR, GBP, USD, AUD, NZD & ZAR. No other transaction fees apply.
Buyers' Credit Limits
All buyers are credit assessed by VINPay. For sellers to receive guaranteed payment they must not dispatch stock 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 outstanding invoices to ensure they remain below their credit limit at all times.
Buyers can apply for a credit limit at: firstname.lastname@example.org
Please direct your enquiries to email@example.com
Level 1, One Mayfair Place
London W1J 8AJ UK
VINPay is a digitised supply-chain payments service by Vin-Exchange Ltd. VINPay is a registered trademark of Vin-Exchange IP Ltd.