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- Digital Wine Ventures’ (DW8) online platform WINEDEPOT has partnered with Earlypay to launch LIQUIDITY, a payment management solution for the beverage market
- LIQUIDITY will allow WINEDEPOT buyers to access a line of credit that can be used across any product listed on its eCommerce platform
- As part of the three-year agreement, Earlypay will provide back-end technology, operational support and funding for WINEDEPOT’s LIQUIDITY
- Digital Wines CEO Dean Taylor says having the availability of a single credit line that can be used across hundreds of suppliers is a game-changer for most venue operators to simplify business operations
- The agreement with Earlypay comes as DW8 terminates a prior proposal from Trevipay, previously known as Multi Service
- Ahead of market open, Digital Wine Ventures last traded at 15 cents per share
Digital Wine Ventures’ (DW8) online platform WINEDEPOT has partnered with Earlypay to launch a payment management solution for the beverage market.
WINEDEPOT has entered into an agreement with the Australian fintech business to launch LIQUIDITY, a simplified payment solution for users of its business-to-business marketplace. The payment solution will allow WINEDEPOT buyers to access a line of credit that can be used across any product listed on its eCommerce platform, ensuring the average order value remains high and credit terms are no barrier for a sale.
Services will become available after the execution of an invoice finance facility deed, general security deed and other required documentation, with the agreement running for three years from the launch of the service.
As part of the agreement, Earlypay will provide back-end technology, operational support and funding for WINEDEPOT’s LIQUIDITY.
Digital Wines CEO Dean Taylor says having the availability of a single credit line that can be used across hundreds of suppliers will appeal to most venue operators to simplify business operations.
“Being able to purchase from many suppliers using a single account, on a single order, that is received in a single delivery and settled with single payment 30 days from the end of each month will be a game changer for venue operators.”
“We know that credit terms are a critical element for success on B2B marketplaces and are excited to be able to partner with Earlypay to offer the Australian wholesale beverage market a much simpler payment solution.”
The agreement with Earlypay comes as DW8 terminates a prior proposal from Trevipay, previously known as Multi Service.
Ahead of market open, Digital Wine Ventures last traded at 15 cents per share.
