New merchant-branded solution provides faster and more reliable settlement terms to B2B sellers looking to host a frictionless checkout experience
As B2B customer journeys become more digitally influenced, merchant payments offerings and capabilities need to evolve to better secure the sale. Those that embrace digital expectations and implement supportive payments solutions in the “new normal” will provide a better customer experience. This can establish stickiness and loyalty with customers, and offer cost savings, increased revenue potential and better cash flow.
Bold Commerce, an innovative ecommerce technology company, has partnered with TreviPay to extend its customizable checkout solution to B2B merchants looking to offer a B2C-like payments experience. This merchant-branded payment solution will offer a combination of a flexible, customizable ecommerce checkout options designed specifically for B2B needs.
“We are thrilled to align TreviPay’s innovation mindset with Bold’s openness to push forward with new technologies,” said Jeff Coppolo, CRO of TreviPay. “Our collaboration will help B2B retailers offer a stronger, more seamless checkout experience to grow B2B ecommerce sales and increase customer longevity.”
Bold provides customizable, high converting checkout solutions to 90,000+ brands in more than 170 countries to meet the needs of ecommerce companies. These enhancements include different checkout flows by device, segment, or source; A/B testing tools to optimize checkout conversion; integrated subscription offerings; complex pricing and promotions with a single source of truth across all sales channels; and split order shipments.
Adding the TreviPay B2B payments and trade credit solution to this offering will improve B2B buyer loyalty and increase average order value (AOV) within a fully customizable ecommerce checkout experience. Merchants who apply the solution can expect their B2B buyers to see the following benefits:
- Friction-free payment options: This gives B2B buyers the freedom and choice to pay in their preferred method. According to Forrester Consulting, more than 90% of merchants expect that improving payment options for B2B customers will improve customer satisfaction, speed up transactions, free up internal resources, and increase business success.
- B2C transaction experience in B2B. Click-to-purchase Buy Buttons that bypass the traditional shopping cart process help enable a seamless B2C-like transaction that B2B buyers have grown to expect. This helps merchants improve cashflow, establish customer loyalty and enjoy cost savings.
- Flexible payment options, like buy-now-pay-later (BNPL) and trade credit. The most effective embedded payments experiences make a company easier to do business with by letting the buyer interact, and transact, on their preferred terms. Offering long-term trade credit can be challenging for small and medium-sized merchants but TreviPay’s unique payments solution can provide 30-second credit approval for with a B2C-like experience.
- Automation of AP and AR processes: Automated onboarding saves a merchant time and cost by eliminating the need to email forms, lengthy credit decisions and inefficient procedures such as creating PDF invoices or performing manual bank reconciliations.
- Protection against digital identity theft: Merchants are acquiring higher volumes of customers online from new markets and geographies. In fact, according to recent TreviPay and PYMNTS.com research, over 98% of B2B businesses had to contend with payments fraud or fraud attempts last year. This causes a growing risk of B2B business identity theft and other forms of fraud. Leveraging data to offer instant decisioning and credit can strengthen the relationship between buyers and sellers by providing sophisticated fraud detection processes and maintaining a strong track record for risk decisioning.
Commenting on the partnership, Yvan Boisjoli, Co-Founder and CEO of Bold Commerce, said, “We are excited to bring our B2C-like ecommerce checkout enhancements to a whole new set of B2B customers. We love seeing our clients succeed, and this partnership with TreviPay strengthens our services. Our companies share a commitment to creating the very best customer experience. Together, we’ll be able to help even more ecommerce companies grow and thrive.”
If you would like to hear more about the benefits of offering a merchant-branded trade credit payment option to your business buyers, please contact us using the form below.