Do you have questions about quickpaid?
We have gathered some answers.
What is quickpaid?
quickpaid is an innovative B2B financing solution designed to provide companies with the flexibility to purchase goods or services and pay later, while quickpaid handles immediate payment to suppliers.
For smaller businesses, quickpaid helps bridge the gap between purchasing inventory and receiving payment from customers by extending payment terms. Larger companies can use quickpaid Enterprise as a sales financing tool, offering flexible payment options to their buyers, boosting sales, and reducing payment risks. The service allows for tailored repayment terms of 60, 90, or 120 days, giving businesses the liquidity they need to manage cash flow efficiently.
The following FAQ answers the most frequently asked questions from a) the buyers‘ point of view and b) the suppliers’ point of view:
quickpaid for buyers
General Questions
Register your company in the quickpaid portal, complete the KYC and apply for a quickpaid limit. Within the approved limit, you can immediately upload the supplier invoice and choose when you want to back us back, 60, 90 or 120 days.
We contact your supplier and offer immediate payment of the invoice(s). In case your supplier gives you an early-payment discount (Skonto), the discount will be fully passed on to you.
Any cash discount associated with an early payment benefits you, lowering both your purchasing and financing costs. If you still have available credit limit, you can easily and flexibly upload more supplier invoices as needed.
With quickpaid you can free up capital bound in inventory purchases, maintaining your growth momentum without waiting for the sales revenue to acquire more goods.
Any cash discount associated with an early payment benefits you, lowering both your purchasing and financing costs.
There’s no simpler way to prevent cash flow shortages.
With quickpaid, you can finance all supplier invoices (B2B) for goods and completed services that your company purchases as part of your business operations.
Please be aware that there must be at least 8 days left before the due date of the invoice when you upload the invoice. If the payment term of the invoice is “payable immediately”, the invoice can be uploaded up to 7 days after invoicing.
The following invoices cannot be financed with quickpaid:
- Invoices to affiliated companies.
- Invoices that are already overdue or have been assigned to a third party (factoring).
- Invoices where the chosen repayment period from invoicing date exceeds 150 days.
- Advance payment invoices, instalment payments, proforma invoices, commission, or brokerage invoices.
- Invoices for the delivery of weapons, drugs, ammunition, animals, or other goods that require ownership documents This also applies to all goods that are subject to embargoes or other sanctions under the Foreign Trade and Payments Act.
Please see further conditions and requirements in the General quickpaid Terms and Conditions.
You can use quickpaid as a means of payment if your company is based in Germany, Switzerland, Slovenia, Sweden, Norway or the United Kingdom. If your company is based in another European country, please contact us as more countries are being added all the time.
Your supplier can be based in any country in the world. We only do not work with countries that are on the EU, UN, Swiss, OFAC or UK sanctions lists.
Onboarding
quickpaid is a convenient Buy-Now-Pay-Later service for supplier invoices (B2B) and can be used by businesses, sole trader and freelancers.
Creating an account only takes a few minutes and can be done online at any time. If you need help, please contact us at mail@quickpaid.com.
When establishing your quickpaid account, you’re required to share your company financials and to complete a straightforward KYC form for our assessment. All data is treated confidentially and is subject to the applicable data protection regulations, which you can view here. All data exchange is SSL-encrypted.
Finalize your account today to get started within the next 24 hours.
Our team is here to assist you, please contact us at mail@quickpaid.com or call us at 0611-97710154
Supplier contact
Your supplier will be informed by us via e-mail that payment of his invoice is to be taken over immediately by quickpaid.
You are always welcome to contact your suppliers yourself and notify them about the payment service provided by quickpaid – which supplier is not happy about quick payment?
In order to pay the submitted invoice to the supplier, the supplier’s consent is legally required. However, this consent (consent for the immediate payment of open invoices) is only required once and is also valid for all further invoices submitted. The consent for the immediate payment of open invoices is sent to the supplier by e-mail and must be signed by an authorised representative.
The consent to immediate payment is called consent for the immediate payment of open invoices, which is a contract allowing the supplier to transfer their claim to a third party.
You are welcome to download an example of the consent for the immediate payment of open invoices if you want to share it with your supplier in advance.
Payment & Pricing
quickpaid pays your supplier invoice immediately (on the same working day) after the supplier has signed the declaration of assignment.
You can choose whether your payment term is extended by an additional 60, 90 or 120 days, up to a maximum total term of 150 days from the invoicing date.
If you choose 120-days, you will pay back us back in 3 instalments – 30% after 60 days, 30% after 90 days and the remaining 40% after 120 days.
Ideally, you only pay for your goods when you have the money from your customers on your account. In this way, the liquidity gap between payment by the end customer and payment for the goods or services can be optimally closed.
Once you have selected and confirmed the desired payment term for an invoice, it is no longer possible to change the term retrospectively. However, for each new invoice you have the flexibility to choose the payment term that best suits your needs.
Creating an account and accessing a quickpaid credit limit is completely free of charge. We only charge a transparent financing fee for utilized limit amount, shown immediately in the portal upon selecting your repayment period.
If a discount is granted on the invoice, it benefits you by lowering both purchasing and financing costs. You can also use quickpaid to negotiate better terms with suppliers, maximizing your discount potential.
quickpaid Enterprise for suppliers
General Questions
quickpaid Enterprise is our Buy-Now-Pay-Later solution for B2B invoices. With our BNPL solution, you can offer your business customers the flexibility to extend the payment terms up to 4 months, while you as a supplier get paid right away.
With BNPL, you can offer flexible payment options to your business customers, lowering the barrier to larger purchase and in turn, boosting your sales. In addition, you can attract new customers and increase customer loyalty and retention with quickpaid Enterprise sales financing.
If your customer uses quickpaid as a payment option, you receive the full amount of your outgoing invoices immediately, which improves your cash flow and reduces your credit risk.
We currently finance invoices in EUR, CHF, SEK, USD and GBP. If other currencies are relevant to you, please contact us.
Payment is made within 24 hours and secures your cash flow without interruption.
All data is treated confidentially and is subject to the applicable data protection regulations, which you can view here. All data exchange is SSL-encrypted.
Onboarding
Get started right away, contact our team to arrange a meeting. Together we will develop the ideal solution for your sales process.
You can also email us at sales@quickpaid.com or call us on +49 611-97710154 at any time.
Each BNPL solution with quickpaid is customised based on your customer journey and point of sale. There are several options you can utilise, such as pre-checking your customer’s limit, immediate credit check and provision of the limit or issuing the invoice first. Your customised quickpaid solution depends entirely on your individual needs. Get in touch with us and together we will develop the ideal solution for your sales process.
Payment & pricing
Offering quickpaid Enterprise as a payment option in your sales process is completely free of charge for you as a supplier. The financing fees are paid via your customers, who benefit from the payment term extension through quickpaid.
Of course, you also have the option of paying any proportion of the quickpaid fees for your customers as part of a loyalty programme.
The quickpaid fee is calculated simply and transparently for each invoice submitted and varies depending on the payment term extension selected – 60, 90 or 120 days.
quickpaid handles the risk associated with customer payments. If a customer misses a payment, we manage the collection process, ensuring you can focus on sales instead of chasing after payments.