News & Insights · Approx. 4 minute read
Spryker and TreviPay Enter Strategic Partnership to Offer More Payment Choices for Global B2B Sellers and Marketplaces
Merchants can now implement TreviPay within the Spryker digital commerce platform to integrate net terms and automate invoicing to help future-proof digital payment experiences and build B2B loyalty
OVERLAND PARK, USA and BERLIN, Germany, May 1, 2023 — TreviPay and Spryker, a leading enterprise commerce platform for sophisticated commerce use cases in B2B, enterprise marketplaces and thing commerce, announced today their partnership at B2B Online Chicago 2023 to integrate TreviPay’s global B2B payments and invoicing network into Spryker’s digital commerce and marketplace platform. As part of Spryker’s composable commerce offering that allows businesses to select best-of-breed solutions and build a highly customized tech stack, TreviPay can now be integrated for merchants to provide choice and convenience to buyers and automate accounts receivables for their business customers.
Through the ever-changing business landscape, digital commerce sellers continue to seek flexible, secure and experienced technology partners to future-proof payments experiences and build customer loyalty. When merchants offer payment terms, accessible credit and digitized invoicing, they make it easier and faster for buyers to spend. In fact, research by TreviPay highlights that 74% of B2B buyers would make a purchase with a competitor if their vendor’s eCommerce store could not keep up with their purchasing expectations as a buyer. With an emphasis on loyalty-building payment experiences, offering trade credit through TreviPay will also increase cash flow for B2B merchants, freeing up their working capital for other value-driving activities.
“To best support the digitization of B2B transactions, sellers must meet today’s buyer expectations of having payments choice at checkout without sacrificing operational efficiency,” said Brandon Spear, CEO of TreviPay. “Our strategic partnership with Spryker’s composable platform will help merchants simplify the purchasing process for their business buyers with B2B-specific checkout APIs to incorporate trade credit and automated invoicing functions.”
In keeping pace with B2B buyer expectations that merchants offer seamless payments experiences, the TreviPay integration will enable Spryker’s B2B clients to offer increased payments choice and invoicing convenience at checkout. Upon joining TreviPay’s global invoicing network, merchants can increase sales while eliminating cross-border complexity and automatically meet regulatory requirements when expanding marketplace sales into new geographies.
“B2B businesses require innovative solutions to address buyer preferences and their evolving digital purchasing needs,” said Manishi Singh, SVP App Composition Platform at Spryker. “We are excited to partner with TreviPay whose B2B payments expertise, customization and scalability will help our enterprise customers boost sales and loyalty.”
To learn more about TreviPay’s global B2B payments and invoicing network for marketplaces, visit us at B2B Chicago Online from May 1-3, 2023 in Booth 106 and Spryker in Booths 100-104.
At TreviPay, we believe loyalty begins at the payment. By understanding the diverse and unique requirements of B2B sellers, TreviPay’s global B2B payments and invoicing network enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables. With more than four decades of experience, TreviPay serves leaders looking to build loyalty while driving efficiency and embracing new digital channels, especially in industries with large distribution networks such as manufacturing, retail, and transportation. For more information, visit trevipay.com.
Spryker is the leading composable commerce platform for enterprises with sophisticated business models to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional business, Spryker’s easy-to-use, headless, API-first model offers a best-of-breed approach that provides businesses the flexibility to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, Thing Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, Hilti, and Ricoh. Spryker was recognized by Gartner® as a Visionary in the 2022 Magic Quadrant™ for Digital Commerce and was also ranked as a Strong Performer in The Forrester Wave™: B2B Commerce Solutions, Q2 2022. Spryker is a privately held technology company headquartered in Berlin and New York. https://spryker.com.