quickpaid FAQ

General questions

quickpaid is an innovative online platform for financing the purchase of goods for small and medium-sized companies.

Craftsmen, the self-employed, retailers and freelancers can all use quickpaid.

With quickpaid you can secure fast liquidity for your purchase of goods or services. This allows you to bridge possible liquidity bottlenecks and waiting times between purchase and payment by your end customer. With the help of direct supplier payment, you also secure cash discounts, bonuses and rebates from your suppliers and save so much money. In short terms, quickpaid gives you the freedom to purchase goods and services whenever it’s cheapest for you, when a lucrative opportunity presents itself or when it’s simply necessary.

Register your company on the quickpaid portal of A.B.S. Global Factoring AG and identify yourself.

A.B.S. Global Factoring will then check your creditworthiness and offer you an appropriate financing framework. Within this limit, you can immediately finance your goods purchases via quickpaid.

You purchase the goods or materials you need and check the corresponding invoice you receive for completeness and correctness. If the invoice is correct and you finally accept it, upload the invoice to the quickpaid portal. A pdf or photo is sufficient. (Other common invoice formats are also possible).

In the next step, A.B.S. Global Factoring AG contacts your supplier and offers him immediate payment of his invoice(s). After the supplier has agreed, the invoice amount is immediately transferred to the supplier. The entire administration is taken over by us. If you yourself have personal contact with your supplier, you can of course also announce the payment of his invoice via quickpaid and thus accelerate the processing process even further.

If we are able to take a discount on an assigned invoice as part of an early payment, you will of course be entitled to this income and will reduce your financing costs.

You determine your payment target to A.B.S. Global Factoring yourself in order to plan your liquidity well and on a long-term basis. Depending on your capital requirements, you can choose a payment period of between 60, 90 or 120 days in addition to the payment period of the invoice, up to a maximum of 150 days. With the 120-day variant, repayment is due in 3 instalments – 30% after 60 days, 30% after 90 days and the remaining 40% after 120 days. In the best case you can bridge the time your customers need to pay your bills.

If your financing framework is not yet exhausted, you can upload further supplier invoices directly, flexibly and according to your needs. There is no obligation to tender.

quickpaid is used,

  • -to absorb seasonal shopping spikes,
  • to finance project peaks,
  • to accept large orders without a down payment,
  • if existing credit lines are not sufficient for growing purchasing volumes or can otherwise be better used,
  • in order to bridge liquidity bottlenecks, especially in growth phases.

In short: with quickpaid you have the liquidity at the right time – whenever the liquidity is insufficient for the purchase of goods, either selectively or recurrently!

The quickpaid customer benefits from the following advantages when financing his goods purchase with quickpaid: 

  • Simple digital processing
  • Fast and flexible liquidity
  • High flexibility – also possible selectively for individual invoices, no tender obligation
  • 100% financing ratio
  • Achievement of better purchasing conditions through the realisation of discounts, bonuses and rebates
  • Consolidation of the supplier relationship through direct payment of your liabilities
  • Independence from the payment behaviour of your end customers
  • Relief for your bank line
  • No collateral or guarantees required
  • Free choice of payment terms for repayment between 60 and 120 days extra

The suppliers of the quickpaid customer also benefit from the sale of receivables and the payment of their invoice by quickpaid: 

  • Fast payment of 100% of the outgoing invoice and thus more liquidity
  • Continuous, secure payment flow through the specialist financier A.B.S. Global Factoring AG
  • Simple processing of the invoice assignment
  • Zero risk of non-payment
  • Relief of the dunning process
  • Sales instrument for strengthening the customer-supplier relationship
  • Expansion of the product range to include financing components tailored to the customer’s needs
  • Balance sheet optimisation through reduction of outstanding accounts
  • Higher equity ratio
  • Better rating

All these advantages are absolutely free of charge for the supplier and are not subject to any fees. 

For any company looking for an uncomplicated financing solution for the purchase of goods. Especially small and medium-sized companies, craft businesses and retailers as well as self-employed and freelancers benefit from our purchase financing quickpaid.

Until now, there have been two different financing concepts for purchase financing on the German market: Finetrading and classic reverse factoring. Now with quickpaid there is a new, even more advantageous financial product for your purchase financing, which clearly distinguishes itself from the other two concepts and is much easier for small and medium-sized businesses to implement, because it does not require complex contractual relationships, long integration times, large volumes and no obligation to tender.

quickpaid combines the advantages of these instruments into a novel financing concept that optimally meets the needs of small and medium-sized enterprises as well as retailers and craft businesses. In this combination – flexible, quickly established purchase financing without complex and time-consuming framework agreements, especially with the supplier – the product is new and unique on the German financing market and can be handled completely digitally – even on Saturdays at 10 p.m. on the sofa!

financial services institution and is continuously supervised by BaFin and Bundesbank. Insolvency is therefore extremely unlikely.

Even if A.B.S. Global Factoring AG were to become insolvent, this would have no effect on you as a quickpaid customer, as the longer payment period you have acquired will remain in effect even in the event of insolvency. An insolvency administrator would be bound by this. There can be no earlier claims or any claims of third parties – not even of the original claim holder – against you, as the business regarding the extension of the payment period is also valid in the event of insolvency and does not lose this due to insolvency.

An insolvency of A.B.S. Global Factoring AG would not have any consequences for your suppliers either, because

  • A.B.S. will pay your invoice(s) immediately after your consent to the sale of the receivables. In addition, the assignment of a claim by you to A.B.S. only becomes legally effective once you have received the money from A.B.S. It is an assignment step by step against payment by A.B.S. If you do not receive payment from A.B.S., the sale of receivables/assignment does not take place either.
  •  the payment to you is a so-called “cash transaction” according to the insolvency code. Therefore, this payment cannot be challenged afterwards – not even by an insolvency administrator. In principle, there is also no right to segregation or separation of any third party. A.B.S. has rather received something equivalent for the payment – namely the claim against your debtor. You are thus no longer affected.

The vast majority of suppliers appreciate paying their outstanding invoices with quickpaid. From your point of view, this payment method is only associated with advantages: Immediate receipt of payment and payment security at zero cost are convincing arguments for agreeing to payment with quickpaid.

Some suppliers even offer more favourable payment conditions for the immediate payment of their invoices through quickpaid and grant higher discounts.

In rare cases it may happen that your supplier does not react to our first e-mail with the payment announcement. Experience shows that some suppliers leave our request unanswered because they are unaware of our product or are afraid to assign a claim. The transaction is completely risk-free and free for your supplier. In these cases your help can be decisive!

A period of 4 days is provided for obtaining your supplier’s consent. If he does not reply after 2 days, he will receive a reminder. In these cases it would be very helpful if you could also inform your supplier of the immediate payment of his goods by quickpaid and explain the advantages to him. You know your delivery partners best and which supplier would not be pleased about a quick payment of his invoices?

The following points are guaranteed by us:

  • Your supplier receives the outstanding invoice amount immediately after approval.
  • The immediate payment is completely free of charge for your supplier.
  • The assignment of the claim only takes place upon receipt of our payment on his account. Therefore, your supplier does not take any risks.
  • There are no claims on the part of quickpaid or A.B.S. Global Factoring AG against your supplier.

About registration

Registration only takes a few minutes and can be done online at any time.

Enter the name of your company or select it from the suggestion list. If you do not find your company, please contact us at mail@quickpaid.com or call us at 0611-97710-154.
Enter your name, e-mail address and password.
The further registration process depends on your signing authority in the company and is explained in the next section.
After the registration, the steps “Identification” and “Issue SEPA Company Direct Debit Mandate” follow and you can already upload the first invoice for financing.

quickpaid is a B2B service. All companies, crafts enterprises, self-employed persons and freelancers can therefore register.

Depending on the constellation of authorised signatories, registration takes place in different ways. Please note that only one quickpaid account can be registered per company and per authorised representative.

1. The quickpaid user has sole power of representation for the company.

Then please tick the checkbox “I am the sole authorised representative”.
We will send you a welcome e-mail in which you must confirm your e-mail address.
You identify yourself via IDnow/e-Sign or the PostIdent procedure.
You will receive a confirmation e-mail with your quickpaid customer contract.

2. the quickpaid user has joint power of representation

Please do NOT tick the checkbox “I am the sole authorized representative”.
You will be redirected to a page where you can download the customer contract and user instructions.
The legal representative(s) of the company will sign this agreement, attach colour copies of ID cards and return the documents to A.B.S. Global Factoring AG by post or fax as indicated.

3. The quickpaid user is not authorised to sign for the registered company.

Please do NOT tick the checkbox “I am the sole authorized representative”.
You will be redirected to a page where you can download the customer contract and user instructions.
The legal representative(s) of the company will sign this agreement, attach copies of colour ID cards and return the documents to A.B.S. Global Factoring AG by post or fax as indicated.

Persons are entitled to represent a company if they can provide a legally binding signature and thus conclude legally binding contracts. The power of representation depends on the legal form of the respective company and cannot therefore be described in general terms. Please find out for yourself whether you are authorised to sign for your company as a quickaid user. In the event that “yes” and “no” or “not alone”, we have a legally secure solution for your registration on the quickpaid portal (see question: Who can register?).

Please note that only one quickpaid account can be registered per authorised representative.

The Money Laundering Act stipulates that the identity of platform users must be verified. Depending on your personal preference, you can choose whether you want to identify yourself completely digitally from home using IDnow eSign or by going to the nearest post office using the Post-Ident procedure. For the IDNow procedure, you need a webcam or a mobile phone with video telephony function and your ID card.

Further tips and help on the two identification methods can be found here:

Link to IDnow
Link to PostIdent

The quickpaid contract runs indefinitely. It can be terminated at the end of a month with a notice period of 3 months.

About the process

Uploading is done simply by selecting the relevant invoice documents on your PC, tablet or mobile phone via drag and drop or by clicking on the upload icon. Please make sure that the document is upright. The format of the invoice file can be PDF, GIF, PNG, JPEG, TIFF or a photo. If the invoice consists of several pages, these must be combined in one document. Your invoice is read out digitally directly and displayed in the portal, so that you can check the invoice data immediately and edit any reading errors manually.

  • The invoice must be invoiced in EURO.
  • The supplier must be based in the EU, Switzerland, Great Britain or Norway.
  • All criteria for proper accounting must be fulfilled on the invoice, such as the full name and address of the service provider and recipient, invoice date, invoice number, type of service and tax number.
  • The service must have been rendered in full
  • Invoices that are already overdue are excluded from quickpaid.
  • There must be at least 8 days left before the due date of the invoice. If the payment term of the invoice is “payable immediately”, the invoice can be uploaded up to 7 days after invoicing.
  • The period from invoicing to the selected payment deadline may not exceed 150 days.
  • The invoice must not yet have been paid in part or in full.
  • The gross invoice amount can fully utilise the free financing limit, up to a maximum of 30,000.00 €.
  • The invoice may not be assigned within the scope of factoring.
  • Only invoices to traders (B2B) can be financed.
  • Invoices to affiliated companies are excluded from quickpaid.

You can also find all information on the billing requirements in the General quickpaid Terms and Conditions under clause 4.

You will find all information on the invoice requirements in the General quickpaid conditions under clause 4.

In order to prevent frequent misunderstandings, however, we would like to present a few examples that we are unable to finance:

  • Invoices resulting from business relationships of affiliated or otherwise intertwined companies.
    If your supplier has an interest in your company, is related to you, or has another close personal relationship, such as an employment relationship, such invoices are excluded from quickpaid.
  • Invoices that have been changed subsequently.
    If an invoice has been rejected by quickpaid, e.g. because it was already overdue, you cannot resubmit the same invoice with a different payment term for financing. In such a case, simply submit another supplier invoice to us.
  • Invoices for the delivery of weapons, drugs, ammunition, animals, live specimens or other goods that require ownership documents.
    The financing of such goods via quickpaid is excluded. This also applies to all goods that are subject to embargoes or other sanctions under the Foreign Trade and Payments Act.

Please note that a repeated violation of the contractually agreed invoice conditions may result in a withdrawal of the financial framework.

The invoice file format can be PDF, GIF, PNG, JPEG, TIFF or a photo. If the invoice consists of several pages, these must be combined in one document. Your invoice will be read out digitally and displayed in the portal so that you can check the invoice data immediately and edit any reading errors manually.

This is of course possible as long as your financing framework is not exhausted. You upload the invoices individually to the portal. The quickpaid portal then bundles the invoices from the same supplier into a collective assignment. In this way, your supplier receives only one offer for the sale of receivables and agrees to the assignment of several invoices with just one signature. You will then receive a collective invoice for your submitted supplier invoices, separated according to the selected financing period.

After successful registration, a supplier invoice can be uploaded to the quickpaid portal. You then select the desired payment period extension for this invoice. During this process, you will be shown an offer including fees for the respective payment target extension for each of the possible extension options. By clicking on the “Select” button you accept this offer and the purchase financing of your invoice via quickpaid is started.

If you upload the invoice to the portal, you can enter the supplier’s contact details, if available. Your supplier will then be informed by e-mail that payment of his invoice is to be taken over immediately by quickpaid. He will be offered the opportunity to sell his claim and a corresponding declaration of consent for immediate payment will be submitted. If you do not have any contact details, we will do the research for you and then contact your supplier. You are also welcome to contact your suppliers yourself and notify them of payment of their invoices by quickpaid – which supplier is not happy about quick payment?

In order for the submitted invoice to be financed and subsequently settled with the supplier, the supplier must agree to a sale of his claim to A.B.S. Global Factoring AG. For this purpose, a corresponding document is provided to the supplier by e-mail, which must be signed by an authorised signatory of the supplier and returned to A.B.S. Global Factoring AG. This consent is a legal prerequisite for purchasing refinement by quickpaid.

The consent to immediate payment is a so-called declaration of assignment and thus a contract with which the supplier can transfer his claim to a third party. This means that the new creditor – A.B.S. Global Factoring AG – replaces the previous creditor – the supplier. The legislator has stipulated this in § 398 ff. of the German Commercial Code. BGB (German Civil Code). After successful agreement on the transfer of the claim, which is achieved by the supplier signing the declaration of assignment, the quickpaid provider A.B.S. Global Factoring AG becomes the owner of the claim and can assert it against the debtor – you as a quickpaid customer. The invoice must then be repaid to the quickpaid account of A.B.S. Global Factoring AG.

This is very simple – the clearly structured quickpaid portal shows the current status of the submitted invoices at all times. Changes to the available financing framework, payments to suppliers, the status of direct debits and all relevant information on your supplier invoices are completely transparent at all times.

About fees

Registration is absolutely free of charge. You can register at any time without obligation, even if you do not want to use the offer immediately. Only after registration will you receive your individual financing framework. Therefore a registration is always worthwhile. You will not incur any costs or obligations if you do not make use of the purchase financing.

Costs only arise if you submit invoices and these are subsequently financed by us. Only if we pay out the invoice to your supplier will the quickpaid fees displayed during the upload be incurred. There are no other fees, annual or membership fees.

The quickpaid fee is calculated simply and transparently. It depends on the chosen payment date for the refund – the shorter the payment date, the cheaper the quickpaid fee because the financing period is shorter.

After uploading your invoice, select the desired payment term extension. To do this, you will be shown the financing fee due in each case, which you confirm by clicking on the “Select” button.

If the invoice has cash discount conditions and can be paid within the cash discount period, you are of course entitled to the cash discount proceeds and also reduce the financing fee. It is therefore essential that you take advantage of this opportunity to increase your cash discount potential – there is no cheaper form of financing.

In order to determine the net fees for quickpaid, please deduct the cash discount proceeds from the financing fee.

Please note:

  • The financing of each supplier invoice is priced with a minimum fee of € 25.00. However, if the invoice amount exceeds € 800.00, the minimum fee will be amortized.
  • The selected payment term extension starts on the day when your supplier gets paid by quickpaid. If you already have payment terms with your supplier, it might be best to upload the invoice 8-10 days before the end of the original payment term.

You have previously posted your supplier invoice to the vendor account “Supplier XY”. If you offer us this invoice for sale, A.B.S. Global Factoring AG will pay the invoice to your supplier. We will inform you of this and send you a new invoice with a longer payment period.

You can now settle your supplier account and post a new liability to the vendor “Supplier A.B.S. Global Factoring”.

You post the cash discount proceeds from the invoice to your income account, if cash discount deduction was possible.
You post the quickpaid fee as an expense.

If you have invoices for which cash discounts can be taken as part of early payment, you (the quickpaid customer) are of course entitled to this income and also directly reduces your financing costs.

About payment of the supplier invoice

quickpaid pays your supplier invoice immediately (on the same working day) after the supplier has assigned the invoice to A.B.S. Global Factoring AG. Due to the regulations of the Money Laundering Act, we require a declaration of assignment signed by the supplier, which the quickpaid portal sends to him.

So it’s entirely up to the supplier himself how quickly he gets his money. Of course, you can also contact the supplier yourself and thereby speed up the processes to payment.

With quickpaid, 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. With the 120-day variant, a refund is due in 3 instalments – 30% after 60 days, 30% after 90 days and the remaining 40% after 120 days. This creates financial freedom. 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.

If you have submitted an invoice for financing and this has been assigned by your supplier, it will be settled immediately by us and you will receive a new invoice from us, which is due on the payment date you have selected. The repayment is conveniently processed via the SEPA company direct debit mandate, which you can give us on the quickpaid portal during the registration process.
Simply download the prepared SEPA Company Direct Debit Mandate and print it out twice. Please send a completed and signed copy to us, and submit the second copy to your account-holding bank.

Two weeks before the payment deadline expires, you will receive a reminder from the quickpaid portal that the payment is due in two weeks and will be collected conveniently and quickly via the SEPA mandate.

If you have not submitted a copy of the SEPA Mandate to your bank by this time, the repayment cannot be made on time. If our statement has not been properly paid within a period of 14 days (2nd reminder), we reserve the right to deactivate your quickpaid account for further transactions.

The SEPA Corporate Direct Debit Mandate is aimed at payment transactions between companies (B2B), i.e. exclusively business or corporate customers. It authorises the payee to collect the amount due from the payer’s account. In addition, the payer’s bank is authorized to carry out the redemption.

For the application for a SEPA corporate direct debit mandate, the payer fills out a form instructing the redeeming credit institution to debit the amount. The payer declares that he is not a consumer and waives his claim for reimbursement after redemption. You will find a prepared SEPA Company Direct Debit Mandate for printing in the quickpaid portal.

Issuing a SEPA corporate direct debit mandate is very simple. Simply download the prepared SEPA Company Direct Debit Mandate from the portal and print it out twice. Please send a completed and signed copy to us, and submit the second copy to your account-holding bank.

Two weeks before your payment deadline expires, you will receive a reminder from the quickpaid portal that the payment is due in two weeks and will be collected conveniently and quickly via the SEPA mandate.

If you have not submitted a copy of the SEPA Mandate to your bank by this time, the repayment cannot be made on time. If our statement has not been properly paid within a period of 14 days (2nd reminder), we reserve the right to deactivate your quickpaid account for further transactions.

Yes, if the payment period is extended by 120 days, the repayment is due in 3 convenient instalments. This financing period includes the agreement of a repayment of the customer in instalments of 30% after 60 days, 30% after 90 days and the remaining 40% after 120 days. If you select the payment options 60 or 90 days, you can of course pay parts of the invoice in instalments of your choice beforehand – but you don’t have to!

No, unfortunately this is not possible. But with each individual subsequent invoice, you can again individually select the payment term best suited to you.

About the financial framework

The financing limit depends on the creditworthiness of your company and will be displayed individually in the quickpaid portal after complete registration. Up to this amount, you can upload individual invoices for payment.

The financing framework provided by quickpaid depends on the creditworthiness of your company. It corresponds to a credit limit that you can exhaust with one or more invoices. As soon as you have repaid individual invoices, the available financing limit increases again. Punctual repayments and recurring use of the portal can increase the financing framework.

If the displayed financing framework does not cover your liquidity requirements, simply contact us at mail@quickpaid.com or call us at 0611-97710-154.

Other

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.

The quickpaid contract runs indefinitely. It can be terminated by you in writing with a notice period of 3 months to the end of the month. Your quickpaid customer account will be deleted upon termination. It is then no longer possible to upload further bills.

All invoices that have already been submitted and financed are not affected by a cancellation and will continue to be processed in accordance with the quickpaid customer contract.

If you have any further questions, please contact us at mail@quickpaid.com. We are looking forward to your inquiry!