CINC VendorPay Overview
CINC VendorPay Overview
CINC VendorPay is a payment processing solution used to pay vendor invoices directly through the CINC platform, regardless of the bank used by the association. CINC partners with AvidXchange to facilitate payment delivery to vendors.
CINC VendorPay settings are initially configured by CINC and support multiple payment methods depending on vendor preferences and network participation.
After an invoice is approved and marked ready for payment in CINC Core, payment details are transmitted to AvidXchange, which then processes and delivers the payment using one of the following methods:
AvidPay Direct (Enhanced ACH)
Check
Virtual Credit Card (VCC)
If a vendor is not enrolled in the AvidXchange payment network, payments are typically issued as checks. Note that checks requiring physical signatures cannot be processed through VendorPay.
Processing Payments through AvidXchange
Once invoices are approved in CINC Core, payment data is sent to AvidXchange daily at 1:30 PM ET. This transmission includes key payment and invoice details such as:
Management company name
Association name
Vendor address
Bank name
Payment amount
Invoice number
Invoice image
Vendor account number and check memo fields as entered in CINC Core)
After the data is transmitted, AvidXchange processes payments based on vendor payment method preferences.
Reviewing Payment Delivery and Status Timing
VendorPay payments follow a defined daily processing schedule:
Payment delivery begins between 2:00 PM and 2:15 PM ET
Payment status updates are processed around 2:30 PM ET
Updated statuses are typically reflected in the system by approximately 3:00 PM ET
This timing allows users to track payment progress shortly after daily processing is completed.
Reviewing AvidXchange Payment Methods and Fees
AvidXchange offers vendors multiple payment options, each with different fee structures:
Using AvidPay Direct (Enhanced ACH)
AvidXchange charges the vendor a processing fee of approximately 0.95%. The vendor receives the full payment amount, while the fee is charged separately.
Processing Check Payments
Vendors incur no fee to receive or deposit check payments.
Processing Virtual Credit Card (VCC) Payments
AvidXchange does not charge vendors for VCC payments. Instead, vendors receive payments through their existing credit card processing systems, such as Square, and any associated processing fees are handled by the vendor’s payment processor.