News & Insights · Approx. 3 minute read
TreviPay Launches B2B Payments Method and Invoicing Networks for Businesses of all Sizes
After creating networks of buyers for major brands around the globe for more than 40 years, TreviPay introduces solutions for the specific needs of large, mid-size and small businesses
OVERLAND PARK, Kan., July 20, 2022 — TreviPay, the global B2B payments and invoicing network, today announced that it is launching specialized networks for the needs of businesses of all sizes: the Private Network for large enterprises, the TreviPay Network for midmarket businesses and the forthcoming Small Business Supplier Network for small businesses. These tailored payments and invoicing networks respond to the specific needs of each business size and build upon TreviPay’s legacy of being the preferred B2B payment method of thousands of corporate sellers and their buyers around the world. TreviPay, which boasts 90,000 buyers and 80,000 seller locations globally, empowers merchants to offer trade credit to business buyers to create more profitable and loyal trading relationships.
“Our legacy is helping businesses increase sales and be more profitable by optimizing the trade credit process. Our specialized networks for businesses of all sizes will support clients with rapidly changing distribution models and global expansion by automating complex billing needs and streamlining A/R and A/P workflows,” said Brandon Spear, CEO of TreviPay. “In much the same way PayPal developed a network on the periphery of the Visa and Mastercard world, TreviPay has created a parallel payments network specifically designed for B2B payments and invoicing. Creating the same ‘network effect’ in B2B commerce will optimize trade and loyalty.”
The TreviPay Payments & Invoicing Networks now address the needs of businesses of all sizes:
- The Private Network allows enterprise sellers to build closed, branded trade credit networks with invoice-based purchasing across all channels for all their customers. Large companies can gain real-time order-to-cash automation while giving their customers a new way to pay with invoicing and commercial terms. Built for enterprises, branded for their companies, and embedded into their systems and processes, the Private Network provides a complete, end-to-end customer experience. Large businesses can rely on the Private Network to provide a seamless payment experience to B2B buyers, accelerate sales and target and retain customers.
- The TreviPay Network works similarly to the Private Network but is tailored for midmarket companies that need to offer instant trade credit and invoicing for business buyers but don’t need a branded solution. This will create a lower barrier for entry for mid-sized companies, and help them to increase conversions, average order value and lifetime value.
- The Small Business Supplier Network, coming soon, will enable banks to offer SMBs flexible payment terms for their customers while eliminating bad debt risk and freeing up capital.
Invoicing and trade credit are essential for B2B commerce, and TreviPay research found that 15% of B2B buyers spend more when offered trade credit and 82% would choose one vendor over others if that vendor offered invoicing at checkout with 30-, 60- or 90-day terms. The TreviPay networks respond to these preferences by enabling B2B merchants to offer the payment terms their customers demand, with a B2C-like purchasing experience that is also expected.
“Payments are a powerful way to create B2B buyer-seller networks that feature strong connections, exclusive payment and invoicing terms, enhanced efficiencies, reduced costs and expanded recurring opportunities,” continued Spear. “Meeting invoice requirements, offering net terms and agreed upon spending controls means trade flows freely without costly friction in either A/R or A/P departments.”
The TreviPay Payments & Invoicing Networks are fully managed including a payment method built specifically for B2B, localized B2B invoicing engineered for global expansion, trade credit with 30-, 45-, 60- or 90-day net terms, managed receivables and fraud and risk management.