Having over four decades of experience within B2B payments, TreviPay processes USD 7 billion in transaction volumes across 34 countries, and 20 currencies, having more than 90,000 active buyers. The company focuses on servicing the enterprise market (with more than USD 100 million revenue, as per information provided in the announcement), whereas Cloudfloat focuses on small to medium-sized enterprises (SMEs), affording each the ability to refer the customers in each other’s servicing market.
Cloudfloat aims to serve an under-served part of the community, providing SMEs with access to ‘hassle-free’ cashflow at the time of paying for any business transaction in an easy manner. The company’s platform enables its customers to pay for goods and services on time, at all times, instead of delaying the payment, with the customer being allowed to carry out fortnightly repayments, with up to 90-day terms and no interest being applied.
Furthermore, suppliers have the option of providing their business customers with flexible payment terms, free of risk, thus helping solve cashflow challenges and allowing business to grow.
When commenting on the collaboration, Cloudfloat officials advised that they are looking forward to partnering with an industry peer in the B2B payment space of the likes of TreviPay, stating that the company’s trust to look after customers who know and trust their brand represents a big endorsement for Cloudfloat. Furthermore, they believe the TreviPay partnership to present an opportunity for their business, as it helps unlock business opportunities which are believed to have the potential to help them grow in an exponential manner.
TreviPay officials added that they are looking forward towards being a referral partner with Cloudfloat, as the company has the belief that there is a significant runway to support all areas of the B2B economy, following the constant maturing of the B2B payments landscape. Bringing forth opportunities for merchants of all sizes, TreviPay’s referral relationship with Cloudfloat is believed to help bring improved payment options to businesses of all sizes.
When talking about retaining digital buyers, B2B merchants are faced with increased competition, which amplifies the need to offer payment solutions that help both drive revenue and support customer loyalty.
A December 2022 interview with Brandon Spear, CEO at TreviPay, highlights that for business sellers, offering trade credit (or Business BNPL) is a good way for increasing sales and loyalty, as it enables B2B buyers to manage their cashflow better with more flexible payment options. Following research that the company conducted, 82% of respondents advised that they would pick one vendor over others if they had the option of choosing from invoicing with 30-, 60- or 90-day terms.
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