Pay your vendors easily

SimpleConsign offers vendor and booth malls the option to manually or automatically pay vendor balances directly with Direct Deposit ACH, Checks, Cash, or Store Credit.

Book a demo

Schedule Q&A

What do vendor malls pay vendors for?

Vendor malls lease space to vendors. Often these vendor malls have a centralized checkout to make it easier for vendors to manage their booth remotely. Vendor Malls pay their vendors for the revenue less the checkout or consignment fee for their sales.

Vendor Malls Prefer Direct Deposit and ACH (Automated Clearing House)

Cost-effective:

Direct Deposits (ACH) payments are generally less expensive than other payment methods like wire transfers or paper checks.

Faster processing:

Direct Deposit (ACH) transactions typically clear within 1-3 business days, which is faster than traditional check payments

Automated:

Once set up, Direct Deposit (ACH) payments can be automated, reducing manual work and the potential for human error.

Improved cash flow management:

The predictable timing of Direct Deposits (ACH) payments allows for better forecasting and management of cash flow.

Enhanced security:

Direct Deposit (ACH) transactions are encrypted and regulated, reducing the risk of fraud compared to paper checks or cash payments.

Closed loop payments:

Eliminate lost, delayed or uncashed checks from payouts with direct deposits (ACH).

Convenience:

Vendors don't need to physically deposit checks or handle cash, saving time and effort.

Better record-keeping:

Electronic transactions create a clear audit trail, making it easier to track and reconcile payments.

Scalability:

Integrated direct deposit (ACH) makes it easy for businesses to handle both small and large payment volumes themselves, without the need for an accountant or 3rd party to help.

Flexible Payment Options

SimpleConsign offers ACH and other payment methods if preferred

Direct Deposit (ACH)

Check

Cash

Store Credit

How do Vendor Malls use direct deposit (ACH) to pay vendors?

Vendor Malls use direct deposit to make payments to vendors for sold items easy, integrated, and scalable. With direct deposit (ACH), vendor malls can rapidly grow their vendor count without it increasing the burden on accounting and administration. Plus Vendor Malls are better able to predict and manage their cash flow by reducing the risk of delayed deposits and lost checks.

Our vendors are not wasting a trip to the store to just pick up a check when they have no new merchandise to drop off. The payout process is faster and consistent each month, so they know exactly when payments will be made and don't need to ask us when a check will be ready. If the vendor is on vacation, ill, or unable to come into the store, we are not holding checks for them.

Sally Otto

Makers Mercantile & Studio, LLC

FAQ

How do vendor malls pay their vendors?

Vendor malls pay their vendors for sales revenue, minus any checkout or consignment fees. Payments can be made using various methods like Direct Deposit (ACH), checks, cash, or store credit. This helps vendors receive their earnings smoothly without having to go onsite.

What are the advantages of using Direct Deposit (ACH) for vendor payments?

Direct Deposit (ACH) is a cost-effective and secure payment method for vendor malls. It offers faster processing times—typically within 1-3 business days—reduces the risk of lost or uncashed checks, and automates payments for easier cash flow management. Vendors benefit from the convenience of receiving payments directly into their bank accounts without needing to handle checks or cash.

Can vendor malls use multiple payment methods for paying vendors?

Yes, SimpleConsign offers flexibility with multiple payment options, including Direct Deposit (ACH), checks, cash, and store credit. This allows vendor malls to choose the payment method that best suits their needs and the preferences of their vendors.