How an independent retailer pays suppliers early on a cashback credit card through Bluechain, wins early-payment discounts, and sells the stock before the card statement is due.
Retail
An owner-run independent retailer. Its busiest seasons means stock bills increase significantly, and suppliers want paying by bank transfer.
£20k
2.5%
Early-payment discount plus cashback covers the whole Bluechain fee.
Peak season means significantly higher bills and suppliers that want paying on time, with cash. The owner was putting £20,000 of personal money into the business each peak, then taking it back out once the stock sold. They wanted to fund peak stock without using their own savings.
Suppliers are now paid early by card through Bluechain, so the retailer secures an early-payment discount. Every supplier payment goes on a 1% cashback Visa, suppliers receive a bank transfer as normal, and the card statement is paid once the stock has sold.
During peak season I used to put a chunk of my own savings into the business to cover the larger stock bills, and take it out again once the stock sold. Now I pay suppliers early on my credit card, the early payment discount and cashback cover the Bluechain fee, and the stock's usually sold before the statement's due.
The early-payment discount plus cashback covers the whole Bluechain fee. On every £1,000, a 1.5% discount for paying early (£15) and 1% cashback (£10) cover the £25 fee. Stock is sold before the card bill is due, no personal money is needed, and paying early has strengthened supplier relationships.
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